More Joliet Police PPP Loan Fraud Arrests: $1 Million Bail For This Man

JOLIET, IL — Will County Judge Art Smigielski set bail at $1 million for a 25-year-old Joliet resident who was arrested Tuesday by Joliet police in connection with allegations that He allegedly defrauded the US government of at least $20,833 in Paycheck Protection Program loan money.

Monroe Lincoln Jr.., who lives in the 4200 block of Mound Road, was carried away in handcuffs by Joliet police. At the time, police spokesman Dwayne English told Patch he could not release details surrounding the arrest.

“The case in which Monroe Lincoln was arrested is still under investigation and involves multiple law enforcement entities. I am unable to share any further information at this time, but I will have information to share in the future in reference to this case,” English said.

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Lincoln’s criminal complaint was filed in the Will County Courthouse on Friday, and these documents provide insight into the circumstances of Lincoln’s detention.

Lincoln is charged with two counts of theft by deception, two counts of loan fraud, one count of wire fraud and one count of forgery.

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According to the complaint, Lincoln submitted “a document being an application for a Paycheck Protection Program loan in the amount of $20,833 in which it indicated that the defendant’s sole proprietorship had gross revenues of $114,790 for the year 2019, when the defendant knew that such representation was false…”

The theft by deception charge indicates that Lincoln intended to deprive the Small Business Administration of cash in excess of $10,000 but less than $100,000 under the CARES Act.

As a result of Lincoln’s fraud, he received $20,833 from the Small Business Administration through Fountainhead SBF LLC on or about May 25, 2021, the charges reflect.

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