Ex-Olympian Allison Baver Accused of $10M in PPP Fraud

Federal prosecutors say that a former Olympic speed skater fraudulently obtained $10 million in COVID relief funds, using some of that money to finance a movie made by “Lord of the Rings” actor Elijah Wood about serial killer Ted Bundy.

According to published reports, Allison Baver, 41, is accused of fraudulently filing several applications in April 2020 for Paycheck Protection Program (PPP) loans, claiming that her eponymous entertainment company had as many as 430 workers and a $4 million monthly payroll.

However, federal prosecutors in Utah say Baver had neither employees nor a payroll when she applied for and received the money. She now faces eight counts of lying to a bank and one count of money laundering.

Baver apparently used $150,000 to help finance “No Man of God,” the story of a relationship between Bundy and an FBI agent. Wood, who played the agent, produced the movie under his production firm, Company X.

Neither Wood nor Baver had commented on the allegations as of Friday afternoon (Dec. 17).

Baver won a bronze medal at the 2010 Winter Olympics, despite a major leg injury the previous year that almost spelled the end of her career. She also skated in the 2002 and 2006 installments of the games. She now works as motivational speaker, model and actress, in addition to running Allison Baver Entertainment. Baver is listed as an executive producer in the credits for “No Man of God,” and had an uncredited role in the movie.

Read more: FinTechs Face PPP Probe Long After Emergency Business Loans Were Dispersed

Earlier this year, the U.S. Department of Justice reported it was conducting a civil probe into whether some FinTechs made mistakes when distributing PPP loans.

As in the case of the allegations against Baver, some of that money went to businesses that turned out to be fake. One FinTech, Kabbage, secured 300,000 PPP loans and made disbursements to 378 companies – totaling $7 million – to companies that ended up being fake.