Former Olympian Allison Baver has been charged with several counts arising from a $ 10 million PPP loan she received in 2020 (KSL-TV)
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SALT LAKE CITY – A former Olympic speed skater and current Utah resident faces charges of lying to a bank to get millions of dollars in CARES law funding for her entertainment company.
On Wednesday, a federal grand jury in the U.S. District Court in Utah indicted Allison Baver on nine counts consisting of one count of money laundering and eight counts of making false statements to a bank, according to court records.
The prosecution documents allege that Baver made false statements to two banks when applying for the Paycheck Protection Program through the US Small Business Administration in 2020. The program was part of the CARES Act, which was providing temporary financial assistance during the COVID-19 outbreak.
Throughout April 2020, Baver applied for a PPP loan from two banks: Northeast Bank, based in Portland, Maine, and Meridian Bank, based in Paoli, Pa. PPP requests indicated that Baver’s company, Allison Baver Entertainment, had an average monthly payroll of over $ 4 million. She also claimed that her company had more than 100 employees. Those numbers would vary in its statements to the two banks, as the largest demand for PPP indicated the company had an average monthly payroll of $ 4,770,583 and 430 employees.
However, federal law enforcement alleges that the company actually had no monthly payrolls or employees. The indictment documents detail eight statements made to the two banks, which form the basis of most of his accusations.
In May 2020, Meridian Bank funded the company’s PPP loan for $ 10 million. Billing documents show that all but $ 500 of the loan amount was transferred from one ABE bank to another within the same bank.
The loan was one of the largest PPP amounts ever given to a Utah company, as only four other companies in the state received the same amount, according to PPP loan data.
On July 23, 2020, Baver allegedly transferred $ 150,000 in a PPP loan to another company “for the purpose of investing in a movie called” No Man of God “,” according to the prosecution documents. This transfer is the basis of the charge of money laundering.
According to IMDB, âNo Man of Godâ was a film released earlier this year about the years leading up to the execution of infamous serial killer Ted Bundy. Drool is listed as having a role in the film.
The prosecution documents contain a notice that federal officials wish to seize more than $ 9.5 million from Baver and an additional sum equal to any property that cannot be recovered from Baver. Federal officials also want to recoup the investment of $ 150,000 in the movie “No Man of God”.
Court records show Baver received a subpoena on Wednesday. She is due to appear on January 18, 2022 for a first appearance by video appeal before investigating magistrate Cecilia Romero. Baver does not have a lawyer listed in court records.
On Wednesday, the Baver’s business license was listed as expired by the Utah Corporations and Business Code Division.
The large amount of Baver’s loan caught the attention of the Utah media, as Salt Lake Tribune article published on July 14, 2020, questioned the company. The Tribune detailed how Baver’s company was formed the previous October before claiming to have 430 employees.
Baver, who was quoted in the article, then filed a lawsuit against the newspaper in July 2021, claiming the Tribune article was defamatory, and she sought more than $ 300,000 in damages. Two months later, Baver’s attorneys filed a motion to step down as an attorney, and the trial has no additional filing or a court date on Wednesday.
According to USA Team Website, Baver competed in short track speed skating and won a bronze medal in the women’s 3,000-meter relay at the 2010 Olympic Winter Games.