Marietta Man Convicted in $13 Million Fraud Scheme Involving PPP Loan and IRS Refund
ATLANTA – A federal jury has convicted Carl Delano Torjagbo, also known as Karl Lucius Delano, of Marietta, Georgia, on charges of bank fraud, wire fraud, and money laundering for orchestrating a scheme that defrauded government programs of over $13 million.
According to court documents and evidence presented during the weeklong trial, Torjagbo submitted two fraudulent tax returns to the IRS on February 13, 2021, using different Social Security numbers and claiming multimillion-dollar losses from a purported gold mining business called Kremkov Industries. The IRS issued him a refund check totaling $3,366,240.76 based on the false information.
Three days later, Torjagbo submitted a Paycheck Protection Program (PPP) loan application requesting $9,554,425 for Kremkov Industries. In the application, he falsely claimed the business employed 493 workers, had nearly $4 million in average monthly payroll, and was operating as of February 15, 2020. He submitted fake payroll documents and tax returns, listing well-known celebrities and fictional characters as employees.
Torjagbo received $9.6 million in PPP funds on March 29, 2021, and combined them with the fraudulent IRS refund to finance an extravagant lifestyle. Investigators say he used the money to purchase:
- A $1.7 million personal residence
- A 2014 Lamborghini Aventador for $332,999
- A 2022 BMW M850xi for $120,799
- A 2021 Range Rover Velar for $90,520
- A $51,000 down payment on a 72-foot yacht
- Over $1 million in real estate, trucks, and trailers for a new business
- More than $15,000 for plastic surgery
The jury found Torjagbo, 49, guilty on July 25, 2025. He faces up to 170 years in prison and five years of supervised release. Sentencing is set for November 3, 2025, before U.S. District Judge Michael L. Brown.
The case was investigated by the FBI, IRS Criminal Investigation, and the U.S. Treasury Inspector General for Tax Administration, with assistance from the Social Security Administration’s Office of Inspector General. Assistant U.S. Attorneys Kelly K. Connors and Nicholas L. Evert are prosecuting the case.
