JEFFERSON CITY − A Jefferson City man was indicted by a federal grand jury for more than a $27.1 million fraud scheme.
Tod Ray Keilholz, 59, was charged in a 52-count indictment in September. The indictment was unsealed and made public Thursday after he was arrested without incident at his home, according to a news release from the U.S. Department of Justice.
The indictment charges Keilholz with eight counts of bank fraud, six counts of making false statements to a financial institution and four counts of making false statements to the Small Business Administration. It also charges Keilholz with 24 counts of money laundering and 10 counts of aggravated identity theft.
It alleges the scheme included more than $12.4 million in Paycheck Protection Program (PPP) loans for Keilholz's four businesses: TRK Construction, LLC, TRK Valpo, LLC, TL Builders, LLC, and Project Design, LLC.
In each of his loan applications, Keilholz is accused of failing to disclose his ownership in the other three businesses and made materially false and fraudulent claims in the applications and supporting documents. It also accused Keilholz of inflating the income of the businesses and its claimed payrolls of employees who did not exist or no longer work for him.
Keilholz allegedly used the PPP loans for unauthorized purposes, including paying off debts to a number of lenders.
The indictment includes a forfeiture allegation, which would require Keilholz to forfeit to the government any property involved in the alleged offenses, including five properties in Jefferson City, two properties in Indiana, six vehicles, a tractor, track loader and multiple trailers, according to a news release.
Keilholz remains in federal custody pending a detention hearing on Sept. 20.
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Stephanie Southey is the digital content editor for KOMU 8. You can reach her by email at ssouthey@missouri.edu or find her on Twitter at @ssoutheyyy.
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