Fort Myers, FL – A Fort Myers couple has been sentenced to federal prison for orchestrating a massive fraud scheme targeting COVID-19 relief programs, stealing more than $3.4 million, according to the U.S. Attorney’s Office for the Middle District of Florida.
Timothy Craig Jolloff, 48, was sentenced to eight years and one month in prison, while his wife, Lisa Ann Jolloff, 58, received three years behind bars. Both were convicted of wire fraud, bank fraud, and illegal monetary transactions and pleaded guilty on April 24, 2024.
In addition to their prison sentences, the Jolloffs were ordered to pay $3.4 million in restitution to the Small Business Administration (SBA) and forfeit assets equal to the amount they defrauded.
Between April 2020 and March 2021, the Jolloffs submitted false applications for Economic Injury Disaster Loans (EIDL) and Paycheck Protection Program (PPP) loans. They inflated employee numbers and payroll figures, misrepresented their businesses’ revenues, and falsely certified that funds would be used for legitimate purposes.
In reality, the couple secured 11 EIDLs and 8 PPP loans, which they then used to finance a lavish lifestyle. According to court documents, they purchased:
Three pontoon boats totaling over $300,000
Real estate in Fort Myers, Florida, and Angola, Indiana
A 2019 GMC truck and a 2020 Polaris UTV
Jewelry, outdoor kitchens, home furnishings, and even two dogs
This case is part of a broader federal crackdown on pandemic-related fraud, as law enforcement continues to pursue individuals who exploited emergency relief programs meant to aid struggling businesses during the COVID-19 crisis.
