West Bloomfield residents Peter Valente and Angela Toma have been charged with conspiracy to commit wire fraud in connection with pandemic assistance loans totaling more than $2.6 million, according to an announcement from United States Attorney Jerome F. Gorgon Jr. Valente is also facing a charge of obstruction of justice.
Jared Murphey, acting Special Agent in Charge of Homeland Security Investigations Detroit, joined Gorgon in the announcement.
The criminal complaint, which was unsealed today, alleges that Valente and Toma worked together to obtain $2,609,210 from the Paycheck Protection Program through fraudulent means. The pair are accused of submitting false loan applications using inactive businesses and falsified bank records. When federal agents began their investigation into the alleged loan fraud, Valente reportedly told them that Toma was solely responsible and claimed he had no knowledge of the crime until it was completed. However, investigators later found evidence indicating that Valente actively participated in the scheme and celebrated with Toma when a fraudulent loan was approved.
“A complaint is only a charge and is not evidence of guilt. Trial cannot be held on felony charges in a complaint. When the investigation is complete, determinations will be made whether to seek felony indictments,” stated the U.S. Attorney’s Office.
Assistant U.S. Attorney K. Craig Welkener is prosecuting the case, which is being investigated by Homeland Security Investigations.
