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Little Rock Businesswoman Fraudulently Collected $2.1M in Pandemic Loans, Indictment Says

2 min read

A federal indictment unsealed Thursday alleges that Little Rock businesswoman Chandler Wilson Carroll fraudulently collected $2.08 million in pandemic-era small business loans.

Authorities said Carroll spent the money on a house, two vehicles and multiple items from Little Rock-based jeweler Sissy’s Log Cabin.

She faces counts of wire fraud and money laundering.

The indictment filed in U.S. District Court for the Eastern District of Arkansas says that Carroll fraudulently obtained four loans by falsifying payroll and employee records. She submitted the loan applications through different banks, including JPMorgan Chase, Simmons Bank of Pine Bluff and Celtic Bank.

Authorities said the scheme began in May 2020, when Carroll received a $1.6 million Paycheck Protection Program loan for Wilcarr Ventures LLC. She reported her average monthly payroll as $640,000 and said she employed 121 people. But a former employee told authorities that the business had just been launched and did not have more than four employees.

The same month, Carroll listed the same LLC when she applied for and received a PPP loan of $190,875, according to the indictment. In a letter, she claimed to employ 13 people with monthly payroll of $75,250. Tax filings again showed different employee and payroll figures.

In June 2020, Carroll received a $149,900 Economic Injury Disaster Loan for her Texas-based LLC, Wilson Carroll Research Services. She claimed the LLC collected $90.6 million in revenue over the previous 12 months, but tax filings showed only $499,999 in revenue in 2019. Carroll also claimed that she employed 11 people when IRS records showed that the LLC had no employees.

In March 2021, Carroll obtained a PPP loan of $146,848 on behalf of Wilson Carroll Research Services. Carroll said the business employed 14 people and had revenue of $1.6 million the previous year. Once again, the figures didn’t match what Carroll had reported to the IRS .

Items listed for forfeiture under the indictment include a 2020 Ford F-150, a 2020 Ford Explorer a Rolex watch and diamond earrings.

The FBI raided Carroll’s home in Little Rock at 5024 Crestwood Drive on Thursday morning, the Arkansas Democrat-Gazette reported. She was arrested and released after an arraignment before U.S. Magistrate Judge J. Thomas Ray.

A trial date was set for May 21.

Carroll told Little Rock Soiree in 2020 that she founded the “WilCarr team of companies to serve the regulatory needs of medical device and health insurance companies across the U.S.” She claimed to lead a multinational operation that helped shepherd devices through the U.S. Food and Drug Administration and other regulatory bodies with consulting, resource and funding support.

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