JEFFERSON CITY, Mo. – A Jefferson City man has been indicted by a federal grand jury for a more than $27.1 million fraud scheme that included more than $12.4 million in PPP loans for four businesses, as well as a fraudulent loan for a development in Indiana.

Tod Ray Keilholz, 59, was charged in a 52-count indictment returned under seal by a federal grand jury in Jefferson City on Wednesday, Sept. 14. That indictment was unsealed and made public today after Keilholz was arrested without incident at his home.

Keilholz remains in federal custody pending a detention hearing on Sept. 20, 2022. The court granted the government’s motion for a detention hearing, which cited evidence that Keilholz posed serious risks of flight and obstruction of justice, as well as a threat to the safety of other persons and the community.

The federal indictment charges Keilholz with eight counts of bank fraud, six counts of making false statements to a financial institution, and four counts of making false statements to the Small Business Administration. These charges are related to four fraudulent Paycheck Protection Program loans and a multi-million-dollar fraud scheme related to a development in Valparaiso, Indiana.

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