Investigations

On August 22, 2023, the U.S. District Court for the Southern District of Ohio filed a criminal complaint charging Lorie A. Schaefer and Latisha C. Holloway with wire fraud related to loans for $1,893,333 and $980,833, respectively. Schaefer and Holloway obtained the loans through the Paycheck Protection Program (PPP), a provision of the Coronavirus Aid, Relief, and Economic Stimulus Act. Schaefer and Holloway were arrested on August 25, 2023, and August 30, 2023, respectively.

 

As part of the PPP loan applications, both individuals allegedly submitted falsified bank statements and falsified tax documents. Specifically, Schaefer submitted a PPP loan application falsely claiming ownership of a restaurant and overstating the number of people employed; however, Schaefer was not the owner of or affiliated with the restaurant. Schaefer erroneously received the PPP funds and purchased items for their own benefit, to include spending over $786,000 to purchase a home. Holloway also submitted a PPP loan application falsely overstating the number of employees and total gross income of Holloway’s business, Jaguar Logistics, LLC.

 

DOT-OIG, as part of a Pandemic Response Accountability Committee detail, is conducting this investigation with the Federal Bureau of Investigation.

 

Note: Indictments, informations, and criminal complaints are only accusations by the Government. All defendants are presumed innocent unless and until proven guilty.