LaDonna Wiggins, 37, has been charged with bank fraud and money laundering in relation to two Paycheck Protection Program (PPP) loans. She received $3.6 million and allegedly used these funds to buy two houses, multiple vehicles and luxury goods.
She made two loan applications for her businesses Wiggins & Graham Enterprise, dba ‘The Concession Stand and Pink Lady Line. In May 2020, she submitted an application for the first business stating she had 108 employees. The application for the second business was made the following month. She stated that she had 107 employees for that business.
Both loans were funded by Kabbage, Inc, an online funding company for small business owners.
Some of the funds were allegedly spent as follows;
- $688k for a house in Cypress, Texas
- $248k for a house in Katy, Texas
- $79k for a 2020 Range Rover
- $52k for a 2020 Nissan Murano
- $63k at Chanel
- $188k on a new swimming pool
- $180k on construction work
- $6k on an aquarium and tropical fish
- $200k to buy an unnamed business
If convicted, Wiggins faces up to 30 years in federal prison and a possible $1 million maximum fine. The government also intends to seize the remaining cash in her bank accounts (approx. $0.5 million), the two houses and the Range Rover.
You can read about the other Houston-area residents charged with PPP fraud;