Georgetown couple sentenced to federal prison for COVID-era PPP loan fraud

AUSTIN, Texas - A Georgetown couple has been sentenced to years in federal prison for their part in a COVID-era Paycheck Protection Program (PPP) fraud scheme.

51-year-old Michael Fullerton was sentenced to almost 24 years and 48-year-old Tiffany Fullerton was sentenced to nine years in federal prison. The couple has also been ordered to pay $3,027526.11 in restitution.

According to court documents, the Fullertons and two other co-conspirators used one existing and three expired business names to submit six fraudulent PPP loan applications for a total exceeding $3.5 million.

Five applications were funded, and the four received about $3 million in PPP funds. The money was then used in an attempt to start businesses in Oklahoma, including a marijuana grow and dispensary, a bar and grill, and an auto/boat repair shop. The money was also used to buy a motor home, luxury watches, a boat and other personal expenses.

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Michael Fullerton pled guilty in March to 11 counts in a superseding indictment charging him with multiple counts related to bank and wire fraud, along with aggravated identity theft.

Tiffany Fullerton was found guilty in a federal jury trial on one count of conspiracy to commit bank fraud and one count of conspiracy to commit money laundering.

Crime and Public Safety Coronavirus Georgetown