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 the fraudulent acquisition of $437,230 in Paycheck Protection Program (PPP) funds. The sentence was handed down by U.S. District Court Judge David Barlow in Salt Lake City.
Campbell will also serve two years of supervised release and must pay restitution totaling $437,230. According to court documents and statements made during his plea and sentencing hearings, Campbell was the registered agent and owner of Salt IT Solutions LLC. Between July 2020 and February 2023, he submitted a PPP loan application containing false information about the company’s payroll and employee numbers. The application claimed that Salt IT had a monthly payroll of $174,892.17 and 22 employees; however, these figures were fabricated, supported by fake tax documents that were never filed with the IRS.
After receiving the loan proceeds via wire transfer, Campbell transferred $75,000 to another participant involved in the scheme.
U.S. Attorney Melissa Holyoak stated: “Mr. Campbell’s crimes impacted all taxpaying citizens and small business owners that legitimately needed pandemic-related assistance during a challenging time. My office, along with our law enforcement partners are committed to bringing justice to those who exploited the pandemic for their personal gain.”
Tim Larson, Acting Special Agent in Charge at SBA OIG’s Western Region said: “This sentencing underscores SBA-OIG’s unwavering commitment to recovering stolen taxpayer dollars. We are thankful for the U.S. Attorney’s Office and our law enforcement partners for their continued dedication to ensuring justice is served.”
Special Agent in Charge Robert Bohls of the Salt Lake City FBI commented: “Mr. Campbell enriched himself with money meant to keep Americans working during a national crisis. This sentence reflects the FBI’s commitment to uncovering fraud and ensuring that those who steal from the public are held accountable.”
The case was investigated by both the FBI Salt Lake City Field Office and the U.S. Small Business Administration Office of Inspector General (SBA OIG). Prosecution was handled by Assistant United States Attorneys Mark E. Woolf and Mark Y. Hirata.
The Department of Justice has prosecuted more than 150 defendants across over 95 criminal cases involving PPP fraud since passage of the CARES Act. More than $75 million in cash derived from such schemes has been seized along with real estate properties and luxury items purchased using fraudulent funds; additional details are available at https://www.justice.gov/OPA/pr/justice-department-takes-action-against-covid-19-fraud.
