A federal grand jury has charged Springfield business owner Jason L. Hemingway, 47, with obtaining $316,062 in Paycheck Protection Program loans through false statements and with laundering more than $35,000 of those funds, according to an indictment that outlines two separate PPP applications, transfers to personal and related accounts, and a forfeiture claim tied to the alleged scheme.
A federal indictment lists multiple criminal counts after prosecutors say Hemingway used deceptive information to secure two PPP loans for Principal Transfer Group, LLC. The filing accuses him of two counts each of bank fraud and making false statements on a loan application, plus three counts of money laundering. Authorities say the total questioned proceeds equal $316,062 and that additional proceeds tied to laundering exceed $35,000.
The first loan application was submitted electronically on Feb. 9, 2021, under the CARES Act programs created to help small businesses during the COVID-19 pandemic. Prosecutors say Hemingway misrepresented who owned the business and provided inflated payroll figures to qualify for relief funds. The indictment frames these statements as foundational to obtaining a first tranche of PPP money.
On that initial application, Hemingway allegedly listed another person as the business owner and certified an average monthly payroll of $63,212 and 25 employees—claims the government says were false. The papers assert he signed the form using the name of the person he claimed was president and owner. The result, according to the indictment, was a PPP disbursement of $158,031.
A second PPP application followed on April 8, 2021, again submitted in another individual’s name, the complaint states. That application certified that a prior PPP loan had been received and spent only on eligible expenses, which prosecutors say was untrue. The April filing repeated the payroll figure of $63,212 but listed just eight employees, and it yielded another payment of $158,031.
The indictment says Hemingway diverted funds away from permitted uses and into accounts tied to himself and to another business he owned. Specifically, prosecutors allege transfers of $11,000 of PPP money to 417 Print Shop, LLC, $11,000 into a personal bank account, and $13,851.16 into a Robinhood account controlled by Hemingway. Robinhood is a retail trading platform that the filing notes as the destination of that investment account transfer.
Beyond the criminal counts, the indictment includes a forfeiture allegation seeking the return of property derived from the scheme. That claim would require forfeiture of at least $316,062 as a money judgment tied to the loan fraud, plus an additional $35,851.16 tied to alleged money laundering proceeds. Forfeiture is presented in the filing as a remedy designed to strip ill-gotten gains from defendants if guilt is proved.
The document makes clear the allegations remain accusations and not established guilt. It notes that any proof must be presented to a federal trial jury, whose duty is to decide guilt or innocence after hearing evidence. The case record will move through established federal procedures, including arraignment and potential pretrial litigation over evidence and legal issues.
Prosecutors on the case are identified as Assistant U.S. Attorney Casey Clark, with investigative work credited to IRS Criminal Investigation and the Federal Bureau of Investigation. Those agencies have frequently handled PPP-related probes since the pandemic relief programs began, focusing on false claims, identity misuse, and diversion of funds. This indictment joins a broader pattern of law enforcement efforts to recover funds and criminally pursue suspected abuse of emergency relief programs.
The allegations in the indictment detail dates, dollar amounts, account movements, and repeated certifications on loan forms, painting a picture of how federal prosecutors say the scheme operated. As the matter proceeds through the federal court system, the details in the public filing will guide pretrial motions and any factual disputes that may arise. The indictment itself does not resolve those disputes; it launches the formal criminal process.
