Former Mocs basketball star charged with fraud

CHATTANOOGA, Tenn. (WDEF)- A former Chattanooga basketball star turned pastor is at the center of federal Covid-19 pandemic fraud investigation.

Ricky Taylor is being charged with wire and tax fraud in relation to PPP loans he took out during the pandemic.

Federal prosecutors say that he falsely applied for loans on behalf of several business entities, including his church Arena of Praise, and an AAU basketball team that he coaches.

They say the documents he filed inflated the wages of the employees that worked under him, resulting in him receiving one point million dollars in loans.

Taylor is required to forfeit nearly $950,000 in assets related to this case.