Troy Campbell, a 57-year-old businessman from Taylorsville, Utah, has been sentenced to 18 months in prison for wire fraud and money laundering related to defrauding the Paycheck Protection Program (PPP) out of $437,230. The sentencing took place in Salt Lake City.
The PPP was established to provide financial assistance to small businesses for obligations such as payroll and rent during the COVID-19 pandemic. According to court records, Campbell was the registered agent and owner of Salt IT Solutions LLC. Between July 2020 and February 2023, he submitted a fraudulent PPP loan application on behalf of Salt IT Solutions, falsely claiming a monthly payroll of $174,892.17 and listing 22 employees. He also provided fake tax documents that had never been filed with the IRS.
Campbell received $437,230 through this fraudulent application and subsequently transferred $75,000 of those funds to another participant in his scheme. In addition to his prison term, U.S. District Court Judge David Barlow ordered Campbell to serve two years of supervised release and pay full restitution.
“Mr. Campbell’s crimes impacted all taxpaying citizens and small business owners that legitimately needed pandemic-related assistance during a challenging time,” said U.S. Attorney Melissa Holyoak of the District of Utah. “My office, along with our law enforcement partners are committed to bringing justice to those who exploited the pandemic for their personal gain.”
“This sentencing underscores SBA-OIG’s unwavering commitment to recovering stolen taxpayer dollars” said SBA OIG’s Western Region Acting Special Agent in Charge Tim Larson. “We are thankful for the U.S. Attorney’s Office and our law enforcement partners for their continued dedication to ensuring justice is served.”
“Mr. Campbell enriched himself with money meant to keep Americans working during a national crisis,” said Special Agent in Charge Robert Bohls of the Salt Lake City FBI. “This sentence reflects the FBI’s commitment to uncovering fraud and ensuring that those who steal from the public are held accountable.”
The investigation was conducted by the FBI Salt Lake City Field Office and the U.S. Small Business Administration Office of Inspector General (SBA OIG). The prosecution was handled by Assistant United States Attorneys Mark E. Woolf and Mark Y. Hirata from the U.S. Attorney’s Office for the District of Utah.
The Justice Department’s Fraud Section leads prosecutions related to schemes exploiting the PPP under the CARES Act and has charged over 150 defendants across more than 95 criminal cases involving fraudulent claims on PPP funds since its inception, seizing over $75 million as well as various assets purchased with these funds. Additional information is available at Justice.gov/OPA/pr/justice-department-takes-action-against-covid-19-fraud.
