The U.S. Attorney’s Office for the Western District of Tennessee announced that Renata Walton, 44, and Nicole Jones, 36, both from Olive Branch, Mississippi, have been indicted on a 53-count charge related to defrauding the government of COVID-19 relief funds. The indictment accuses Walton, the owner of R&B Tax Express in Moscow, Tennessee, and Jones of preparing fraudulent tax returns to unlawfully claim COVID-related tax credits and other financial aid.
From 2020 to 2024, Walton and Jones allegedly falsified information to claim tax credits like the Employee Retention Credit and the Sick and Family Leave Credit for clients who were not eligible. These false filings led to six-figure tax refunds from the IRS, which Walton and Jones collected substantial fees for. The women are also accused of laundering the ill-gotten funds through local banks.
Furthermore, Walton is charged with submitting fraudulent Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) applications to the Small Business Administration to secure even more fraudulent relief funds. In total, Walton and Jones allegedly sought over $65 million through these schemes, resulting in significant financial losses.
The charges against the two women include conspiracy to commit wire fraud, wire fraud, money laundering, preparing false tax returns, failing to file taxes, and obstruction of justice. Walton and Jones have been released on a $100,000 bond, pending further proceedings.
