A woman arrested at her Little Rock home on Thursday has been indicted on eight counts of financial crimes.
31-year-old Chandler Wilson Carroll is the CEO and founder of WilCarr Innovations LLC along with two other companies. The government alleges she used pandemic-era Paycheck Protection Program loans to buy a house, jewelry and two Ford cars.
Carroll founded WilCarr Innovations in February of 2020. In an interview with Little Rock Soirée magazine, she claimed the company serves “the regulatory needs of medical device and health insurance companies across the U.S.” The company does not appear to have a website, and the secretary of state's office lists its license as “revoked.”
The government indictment lists two other companies she owned: Wilson Carroll Research Services (WCRS), founded in 2017, and Brook Haven Lodge, also founded in 2020.
In January of 2020, Carroll took out a COVID-19 EIDL, or Economic Injury Disaster Loan, for her WCRS company. The indictment said she was lying to get the money. On her 2022 tax form, Carroll claimed WRCS made about $500,000 for the year with zero employees.
On her loan application, she claimed it made over $90 million in gross revenue. She was eventually granted $150,000 in loans. The complaint says she used the money to buy a Ford car and jewelry from Sissy's Log Cabin.
Later in April 2020, she is alleged to have done the same thing with Paycheck Protection Program (PPP) loans for her WCRS company. These were federal loans designed to help payroll costs during the pandemic. Millions of loans were eventually forgiven.
Carroll applied for two PPP loans, one for over $188,000 and another for over $190,000. On the loan application she said she had 13 employees. Again, this money was used for another car and jewelry purchases.
In May of 2020, Carroll applied for another PPP loan for her company Wilcarr. She claimed this company had 121 employees and $640,000 in profits, but they did not have IRS fillings. According to the indictment, one employee told the FBI that only four people worked at the company. Carroll received $1.6 million from the loan. She used the funds to purchase a house. The indictment does not list the location of this property.
In 2021, she received another PPP loan totaling over $146,000.
Carroll was released from jail on Thursday. She must forfeit two cars, two watches, diamond earrings and any property associated with the companies.
This is not the first time Carroll has clashed with regulatory authorities. In 2018, the Department of Finance and Administration sent Carroll a certificate of indebtedness for over $39,000 in unpaid income tax.
Carroll's trial for wire fraud and loan fraud is scheduled for May 21.
