Erie Man Charged with Bank Fraud and Money Laundering in Relation to Falsified Applications for Pandemic Relief Funds

ERIE, Pa. - A resident of Erie, Pennsylvania, has been indicted by a federal grand jury in Erie on charges of bank fraud and money laundering, United States Attorney Troy Rivetti announced today.

The 16-count Indictment named Aaron B. Collins, 50, as the sole defendant.

According to the Indictment, Collins falsified applications for Coronavirus Aid, Relief, and Economic Security (CARES) Act funds under the Paycheck Protection Program, which was designed to authorize forgivable loans to small businesses for job retention and certain other expenses during the COVID-19 pandemic. The Indictment further alleges that Collins engaged in a series of monetary transactions involving the funds he fraudulently obtained through his falsified applications.

The law provides for a maximum total sentence of up to 40 years in prison, a fine of up to $1,250,000, or both. Under the federal Sentencing Guidelines, the actual sentence imposed would be based upon the seriousness of the offenses and the prior criminal history, if any, of the defendant.

Assistant United States Attorney Paul S. Sellers is prosecuting this case on behalf of the government.

The Internal Revenue Service-Criminal Investigation conducted the investigation leading to the Indictment.

An indictment is an accusation. A defendant is presumed innocent unless and until proven guilty.