Rich Smith 31.3K subscribers Subscribe 110K views 1 year ago Here's a breakdown of the PPP Loan Fraud List and who got a PPP Loan.. The EIDL application information, submitted by the applicant, was used by SBA systems to calculate the amount of money the business was eligible to receive in the form of a loan. Arman Manukyan, a San Fernando Valley man, is charged with fraudulently obtaining an $867,000 loan for a shell sewing company, Argo Global. Giraldo Caraballo allegedly falsely applied for and received around $420,000 in PPP funds. Have a question about Government Services? PRIDE Kickball Spring '23 League - Registration Deadline March 9th, Colony Roofers offers services in the Atlanta area, 5 Atlanta Area New Open Houses To Stop By, Jalen Carter Says He Will Be Cleared Of Wrongdoing In Fatal Crash, 3 Atlanta Farmers Markets To Shop Like A Pro, Info Here, 8 Best Places In The Atlanta Area To Take Visitors. (PPP) and Economic Injury Disaster Loan (EIDL) COVID-19 relief funds. The PPP loan applications reported that each business had between 59 and 69 employees and approximately $295,000 to $342,000 in average monthly payroll expenses. U.S. Attorney's Office, Northern District of Georgia, Former U.S. Rocco A. Malanga, owner of a New Jersey small company, was charged with wire and bank fraud for falsifying records to obtain $1.8 million in PPP loans. Carlos Belone was charged with wire fraud and other charges in connection with several fraudulent applications. Former Catholic Archdiocese Employee (Washington, D.C. August 11), 35. Attila Colar allegedly used several aliases in a scheme to illegally get $22 million from the PPP. Most of the funds are going to help the nations 31 million small businesses. Sandra D. Smith has been arraigned on federal charges of wire fraud and theft of government funds. On August 9, Manukyan allegedly boarded a flight from Mexico City to Belarus. Charmaine Redding, pleaded guilty on July 14, 2021 to one count of conspiracy to commit wire fraud in connection with the loan obtained by her business, All Star Room and Board Services of Michigan Inc. Reddings sentencing is set for October 21, 2021 before Judge J.P. Boulee. The CARES Act was signed to provide economic assistance to keep companies afloat while navigating through these uncertain times, said Tommy D. Coke, Inspector in Charge of the Atlanta Division. Fraudsters like Benjamin Hayford greedily steal money that should be going to Americas small business owners who are struggling during this public health crisis, said U.S. Attorney Trent Shores. Other red flags for PPP loan fraud include atypical business activities such as forming new business entities and entering into new debt obligations. The loan applicants forgiveness process is bound to trigger another round of scrutiny. Ten people indicted in Metro Atlanta, Houston and D.C.-Maryland area on federal fraud charges for false CARES Act applications. We will work tirelessly to protect the integrity of the EIDL and PPP and to help small businesses stay afloat., The COVID-19 pandemic has caused financial hardships for many hardworking business owners across the nation. The applications stated that each business had between 59 and 69 employees in February 2020 and averaged approximately $295,000 to $342,000 in monthly payroll expenses. Rahul Shah of Evanston is charged with bank fraud and making false statements to a financial institution. A lock ( We can use our experience to help reduce your companys risk (and your personal risk) to the fullest extent possible, and we encourage you to contact us for a free and confidential assessment of your companys legal needs. A lock ( In July, the Feds seized $866,019 from his bank accounts. Sum of Undisburse Amount. PPP2 started accepting applications on January 11, 2021. ("Firm") works with affiliated lawyers (referred to as "Local Counsel") in various cities and states across the United States. Our searchable databaseallows users to look up dollar allotments by industry, and lenders. They allegedly discussed their fraud in email and one assumed the identity of his own brother. The retail giant suspended him and stated the charges were unrelated to Walmart. According to the SBA, the Paycheck Protection Program ended on . Search. A .gov website belongs to an official government organization in the United States. [DOWNLOAD: Free WSB-TV News app for alerts as news breaks]. bank fraud, making false statements to an FDIC-insured financial institution, or making false statements to the SBA). Darrell Thomass sentencing is set for September 15, 2021 before Judge J.P. Boulee. The U.S. Department of Justice say that approximately $11.1 million in PPP loans were taken and the funds were then used to buy luxury vehicles, jewelry, and other personal items. Once Quarterman and her co-conspirator, Katrina Lawson, who is a former deputy sheriff for Fulton County, Georgia and is still a certified peace officer, became familiar with the requirements and applications for the EIDL program and the PPP, they allegedly devised a scheme to submit fraudulent business loan applications on behalf of their friends and family who did not actually own businesses. The defendants are charged with various counts of conspiracy to commit wire fraud, wire fraud, bank fraud, mail fraud, and money laundering. They allegedly spent some money on personal expenses like vehicles and home improvements. Lauren Marcel Duhart, Joshua Bernard Smith, Steve Ronald Lewis, Christopher J. Agard, Henry Duffield, Jeremy Brandon Latourneau, Derick Keane were charged in an indictment with laundering $750,000 obtained fraudulently, including over $390,000 from a PPP loan. A Cessna Aircraft and a Lexus (Virginia October 20), 59. Meghan Thomas, 32, of Alpharetta, Georgia, is charged with conspiracy to commit bank fraud and wire fraud, bank fraud, wire fraud, and false statements to a federally insured financial institution in connection with her involvement in several businesses loans. On March 27, 2020, Congress passed and President Trump signed into law the Coronavirus Aid, Relief, andEconomic Security(CARES)Act authorizing the low-interest, forgivable loans. Kao allegedly transferred $2 million to personal accounts. Melissa Turasky, a Chicago restaurateur, was charged with submitting a fraudulent PPP loan application to obtain more than $175,000 in a forgivable PPP loan. Learn about careers at Cox Media Group. On January 14, 2021, Judge J.P. Boulee sentenced Green to three years and five months imprisonment and five years of supervised release, and Judge Boulee ordered him to pay $830,000 in restitution, forfeiture of $157,035.71, and a special assessment of $100. Darryl Washington, 66, of Atlanta, Georgia. Ex-Microsoft Executive (Washington July 23), 28. Based on the investigation, none of the companies allegedly engaged in any business-related transactions or used the PPP loan proceeds for any authorized purposes. Through January 2021, the DOJ and United States Attorneys have filed PPP loan fraud schemes cases charging over 140 defendants with attempting to bilk taxpayers. He also agreed to forfeit various assets, including more than $2.1 million in seized funds, three luxury vehicles a 2018 Mercedes-Benz S-Class S65AMG, a 2018 Land Rover Range Rover, and a 2017 Acura NSX and several items of jewelry, including a gold Rolex. The estimated amount was about. Surely the government does a personal credit check on the owner unless he falsified his identity. The defendants are presumed innocent of the charges, and it will be the governments burden to prove the defendants guilt beyond a reasonable doubt at trial. East Texas Man and the Online Name Generator (Texas May 19), 5. 43. Fake IRS filings. Sum of Initial Approval Amount. Handmade Entrepreneur (Arkansas July 16), 27. So far, six. This has caused some entrepreneurs, employers and owners to think twice about applying. All rights reserved. Loot paid for with PPP loan money included two Lamborghini Huracan sports cars, a Rolex Presidential watch, a 5.73-carat diamond ring, a diamond bracelet, two Tesla cars, a 26-foot Pavati Wake Boat, a 33-foot Cruiser yacht, two Rolls-Royces, a Lamborghini Urus luxury SUV, a Kia Stinger, a Ford F-350 pickup truck, at least three Bentleys, and an assortment of other pricey vehicles and boats. After receiving the loans, he bought a $480,000 , spent $50,000 to $200,000 on a lost gambling bet, bought a brand new speedboat worth about $150,000, he also bought Martina D****la a $900 pair of shoes for her 23rd birthday. Ronald Bell, who conspired to extort money from Georgia Institute of Technology, has pleaded guilty to a charge of conspiracy to commit extortion. The complaint alleges George provided false and misleading documents and apparently couldnt keep his fake employees straight. He allegedly lied about his criminal past, and submitted fake tax documents including names of people who did not work for the businesses. Jorge Abramovs was charged in an indictment with bank fraud, making false statements to a bank, and money laundering. Apparently one tim isnt enough for some people. Argires allegedly invested some of the proceeds in a cryptocurrency account and withdrew cash via ATM transactions. Postal Inspection Services and the Drug Enforcement Administration of methamphetamine hidden in dog food and shipped to one of the defendants led to the discovery of details of people in Houston, the Washington, D.C.-Metro area, and Metro Atlanta involved in a scheme to defraud the government of money through the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Using an online tool, I discovered that the small medical lab I had worked at for 4 years had, in fact, been approved for a PPP loan end of April. McQuarn allegedly used the cash for personal use including buying a 26-foot Pavati Wake Boat and a Rolls Royce. All rights reserved. Its a scary thing for legitimate business owners to sign borrower certifications under potential penalties of fines and prison time. He had been removed by the Board of Directors from his company in 2019, yet submitted an application in the name of Crosscode dba Kloudgaze. He received over half a million dollars in PPP funds, and allegedly put a down payment on a pool and transferred money to a financial account in India. Help us crowdsource fraud detection in the PPP program! In fact, the majority (68%) of the loans were under $50,000, which sounds right for most small businesses which tend to be pretty small, and the self-employed. According to the SBA, thePaycheck Protection Program ended on May 31, 2021. I want to thank the U.S. Attorneys Office and our law enforcement partners for their dedication and commitment to seeing justice served.. Ma is alleged to have falsely represented to the SBA and five financial institutions that his companies had hundreds of workers when he was the only employee. Sadleir was Executive Producer on films like, Baoke Zhang, a software engineer at ride share company Lyft, is charged with wire and bank fraud. He allegedly got $22,000 which he then deposited partially into a personal account and partially gave to another company in furtherance of a $5.6 million Medicare kickback scheme. After two banks declined, Rowberry allegedly said she would help him re-apply through a friend. 95% Success Rate. Love & Hip Hop: Atlanta star Maurice Fayne was indicted on fraud charges over a $3,725,500 PPP loan application for his company, Flame Trucking. He allegedly bought a 2020 Mercedes and a special edition Ford F-250 pickup truck, and wired $537,000 to a property management company in south Florida. Assistant U.S. Teldrin Foster, 39, of Decatur, Georgia, is charged with conspiracy to commit wire fraud in connection with the loan obtained by Bellator Phront Group Inc. Denesseria Slaton, 52, of Stockbridge, Georgia, is charged with conspiracy to commit bank fraud and wire fraud in connection with the loan obtained by Transportation Management Services Inc. Charmaine Redding, 27, of Macomb, Michigan, is charged with conspiracy to commit wire fraud in connection with the loan obtained by her business, All Star Room and Board Services of Michigan Inc. Another defendant, Carla Jackson, 53, of Tucker, Georgia, was previously charged by indictment on August 4, 2020 with money laundering in connection with laundering the proceeds of Gaines Reservation and Travels PPP loan. These Local Counsel may assist the Firm on a case-by-case basis, operate their own respective law firms, are independent of Firm, and are not partners, owners, of counsel, or employees of Firm. Wells Fargo previously fired him for embezzlement, according to news reports. Now they are getting another PPP Loan to go on more trips and buy more things for themselves.They posted on their Facebook all their trips and everything they bought.They went from renting a house to buying a house in cash.They dont even have EmployeesWow this is wrong. Chinese Man Found Guilty Of $20 Million Dollar PPP Fraud Scheme Chinese national who lived in New York pled guilty in connection with a fraudulent scheme to obtain over $20 million. Sandra D. Smith has been arraigned on federal charges of wire fraud and theft of government funds. 18, 2021 at 12:18 PM EDT | Updated : Jun. I did too!! After the fraudulent loans were paid out by the SBA or partner banks, the co-conspirators completed their scheme by allegedly paying Quarterman a fee from the proceeds of the fraudulent loans which she would split with Lawson. SBA partner banks initially approved 11 of the fraudulent PPP loans Lawson submitted and ultimately paid . Authorities say he put the PPP loan proceeds in accounts under the control of his relatives and minor children. Due to a high volume of calls, we are unable to take on more PPP clients at this time. One defendant was so brazen he allegedly posted a rap video online flashing $100 bills. Richard Ayvazyan, Marietta Terabelian, Artur Ayvazyan, Tamara Dadyan were charged in a complaint claiming they conspired together as part of a disaster relief loan fraud ring based in Los Angeles. Authorities state Bellamy allegedly obtained a Paycheck Protection Program loan of $1,246,565 for his own company, Drip Entertainment LLC and then spent the proceeds on purchases at Dior, Gucci, and jewelers as well as withdrawing $302,000 in cash. The Form 941s, bank statements, and W2 payroll spreadsheets had all been fabricated. Our Office will remain relentless in the pursuit of fraudsters who seek to exploit SBAs vital economic programs. [SIGN UP: WSB-TV Daily Headlines Newsletter]. The technical storage or access that is used exclusively for anonymous statistical purposes. US Attorney's Office for Middle District of Ga. investigates high volume of PPP loan fraud By Jessie Gibson Published : Jun. However, the Government watchdog also recommended oversight of the 4 million smaller loans. Under 18 U.S.C. He allegedly created fake technology companies to obtain $1.5 million in funds. Fugitive defendant who fled during trial convicted by federal jury for laundering millions of dollars stolen from fraud victims throughout the U.S. 10 Defendants Indicted In Multi State, Fraudulent COVID 19 Related Business Loan Scheme. Married Couple Attempting to Flee (Virginia June 24), 17. Claimed to Have Paid 100 Employees (Florida September 17), 52. The two allegedly worked together on the scheme (mighty neighborly of them!). ATLANTA Federal fraud charges were filed against 10 people, including six Metro Atlanta residents, who stole more than $700,000 in COVID-19-related government aid, prosecutors said. Victor Montgomery, 43, of Washington, D.C.. The impact of COVID-19 on small businesses around the country has been devastating, said Acting U.S. Attorney Kurt R. Erskine. He was approved for $3.9 million. NFL player Joshua Bellamy was charged for his alleged role as part of a $24 million COVID-Relief scheme. He allegedly certified that his business was operating as of February 15, 2020 (a requirement of the law) and had 247 employees, but didnt even set up a company entity until a few days before applying for the PPP loan. Co-Leader of COVID-19 Loan Fraud Ring Extradited from Montenegro to Begin Serving Prison Sentence . Under the terms of the program, for example, companies must represent that: During a federal PPP loan fraud audit or investigation, federal agents will not just be looking to assess loan recipients eligibility, but they will also be looking to determine whether companies have documentation on hand to qualify the representations they made in their PPP loan applications. Some of Quarterman and Lawsons co-conspirators also allegedly recruited additional participants to the scheme and then sent their information to Quarterman for fraudulent loan applications. But they apparently werent creative enough, as they submitted nearly identical applications each with 16 employees, and used identical fraudulent quarterly tax returns. Federal auditors and investigators will view these types of activities with skepticism, and as potential evidence of an attempt to either fraudulently obtain a PPP loan or use PPP loan funds for unauthorized purposes. I was not hired back. He allegedly blew through about $200,000 in Las Vegas casinos, where he was caught on surveillance cameras at a Bellagio blackjack table. Allegations also claim he perpetrated a credit card scam on low-income patients by getting them to pay for medical expenses for services he did not fully render. He also allegedly was involved in a scheme claiming to represent the New York State Government in procuring COVID-19 test kits. See how PPP works. This comes as federal prosecutors in Georgia continue to make new arrests for PPP fraud. On average, companies that received a loan got $101,000 according to SBA data. Nationwide Federal Defense, Compliance and Litigation. Chain Pizza Owner Charged With PPP Fraud (Michigan November 12), 65. Number of Loans Forgiven. The attempted fraud is staggering: $341,000,000 through January 2021. The government issued a seizure warrant for a Mercedes Benz SUV and more than $500,000 from a bank account. Princess Terry of Memphis is alleged to have filed and fraudulently obtained $290K in PPP loan funds while on pre-trial release in an unrelated healthcare fraud case. Following a nine-day trial, Ahamefule Aso Odus has been convicted by a federal jury on 12 counts of money laundering stemming from his role in a massive money laundering operation Northern District of Georgia At the time of his arrest Hayford was a Project Manager for Walmart. A package containing methamphetamine hidden in dog food containers had been mailed to Quartermans home. In another case, a married couple was apprehended at JFK Airport allegedly attempting to flee the country after submitting 18 fraudulent PPP loan fraud applications. Fugitive defendant who fled during trial convicted by federal jury for laundering millions of dollars stolen from fraud victims throughout the U.S. Twenty Two Defendants Charged In Connection With Alleged $11.1 Million Paycheck Protection Program Fraud Scheme. 17 Mtskheta str . FBI Assistant Director William F. Sweeney Jr said: The benefits offered by the CARES Act for PPP loans were established to help small business owners survive during the pandemic. All information on this website has been prepared for informational purposes only and does not constitute legal advice. This means you have to be just as scrupulous when applying for forgiveness as when you applied for the loan initially. For federal authorities such as the SBA-OIG and the DOJ, this includes suspect activity from any and all company personnel who are involved in responding to the governments inquiry; and, for companies, this includes evasiveness from employees during internal PPP compliance investigations. When seeking forgiveness, companies are required to provide documentation, and they must affirmatively certify as to the accuracy of this documentation and as to compliance itself. He allegedly laundered funds he received by writing checks for $8,330 each to 23 people. Ngoc Manh Nguyen, Victoria Dieuy Ho, and Dat Tat Ho were charged for allegedly having misrepresented employee payroll figures to receive $13 million in COVID-19 loan funds. According to Acting U.S. Attorney Erskine, the indictment, and other information presented in court: On August 11, 2020, agents with the U.S. An official website of the United States government. Special Agent in Charge Joseph R. Bonavolonta of the FBIs Boston Field Office said in a statement, Thankfully we were able to stop them before taxpayers were defrauded.. He ultimately received over $2 million but the government seized $1.98 million from business bank accounts. These are significant questions, and they are questions that you need to answer sooner rather than later. Dr. Nick Oberheiden is a nationally recognized expert on PPP loan laws. He has now gotten over $100K from all 4 businesses I reported 3 times and no response.. nothing! Days later she paid $8,000 on her student loan and then went on a spending spree at Sephora and other retailers, it is alleged. Find an attorney to defend youhttps://lawyers.findlaw.com/lawyer/practice/white-collar-crimes 22-Year Old Hair Extensions Entrepreneur (Texas September 15), 50. Kindambu made some expensive personal purchases that authorities say were not permissable under the loan terms, including the plane the Lexus. Under the terms of the PPP, utilizing loan funds for personal expenses is expressly prohibited. The FBI apprehended Monica Jaworska and her husband Tarik Jaafar at JFK Airport allegedly attempting to flee to Poland. Millions of dollars of coronavirus relief funds meant to keep employees on the payroll were instead blown on extravagant personal spending sprees all by a relatively small handful of people. Benjamin Hayford is charged with fraud for seeking $4.4 million in PPP financing. PLANNED PARENTHOOD MUST BE PROSECUTED FOR TAXPAYER MONEY THEFT! 5 Places To Swim In Atlanta A Swimming Activity Of Every Kind, The 5 Best Atlanta Facebook Groups To Follow ASAP, Adarin Jones, a/k/a Adrian Jones, 42, of Atlanta, GA. Victor Montgomery, 43, of Washington, D.C. Can I, and should I, report this. However, we have created a list of PPP resources that should help you with any challenges that you might have. Luckily, the Feds have recovered a large part of the loan proceeds already, although millions is forever gone. Or do you want to know whichcompanies got taxpayer-fundedloans? Attorneys for the Northern District of Georgia, 10 defendants indicted in multi-state, fraudulent COVID-19 related business loan scheme, Arizona man pleads guilty to extorting Georgia Tech, Georgia woman charged with stealing over $450,000 in government and retirement benefits. When making use of PPP loan funds, companies should extensively document their expenditures in order to demonstrate that they have used their PPP loans for authorized purposes only. This table shows the top 5 industries in Georgia by number of loans awarded, with average loan amounts and number of jobs reported. Check with your attorney and/or accountant with questions. Read more. In that same time frame, Lawson allegedly submitted 11 fraudulent PPP loan applications on behalf of many of the same individuals in an attempt to obtain at least $224,000. Local Basketball Coach Indicted (Florida November 13), 66. Authorities allege he bought a company on the Internet in May with no employees, and then forged documents to claim he had paid millions in payroll taxes in 2019. In the loan applications, the defendants certified that each applicant business was in operation on February 15, 2020 and had employees for whom it paid salaries and payroll taxes or paid independent contractors; that the funds would be used to retain workers and maintain payroll or make mortgage interest payments, lease payments, and utility payments; and that the information provided in the application and in all supporting documents and forms was true and accurate in all material respects. She allegedly claimed to have 73 employees at her Dayton private investigation company. Terry was sentenced to 65 months in federal prison for other cases. Ahmad Kanan, formerly of Madison, is charged with wire fraud and money laundering. The above numbers are through January 2021, and new instances are being announced regularly. Days later he allegedly bought a 2020 Lamborghini Huracan sports car for $318,000. For a quick overview, this infographic tells the story of what happens when the funds are misused in a PPP loan fraud. A pair of Georgia businesses are in hot water over fraud allegations related to their PPP loans. With that kind of speed, no program could be perfect. Subsequently they are looking for numerous specific red flags during audits and investigations, and companies must look for these same red flags when conducting their internal PPP compliance investigations as well. The provisions of the CARES Act, in conjunction with an officially declared disaster by the United States Government, allowed the Small Business Administration (SBA) to offer EIDL funding to business owners negatively affected by COVID-19. The defendants are charged with various counts of conspiracy to commit wire fraud, wire fraud, bank fraud, mail fraud, and money laundering. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. See the SBA website for updated forgiveness information. Man Flashes $100 Bills in Rap Video (New York September 10), 48. A former Georgia mayoral candidate in charge of a nonprofit claiming to assist low-income families spent $323,000 in loans she received from the Paycheck Protection Program (PPP) on an in-ground . Moller received close to $600K in stimulus PPP loan. An official website of the United States government. We appreciate the efforts of the Department of Justice and our law enforcement partners in this effort., Scheming to fraudulently obtain federal funds that are meant to provide assistance to nations small businesses is unacceptable, said SBA OIGs Eastern Region Special Agent in Charge Amaleka McCall-Brathwaite. Have a question about Government Services? Search our database that is tracking this information. In reality, however, none of the businesses had employees or payroll expenses. The U.S. Secret Service and IRS participated in this investigation, along with the U.S. Attorney for the Southern District of Florida. The federal Paycheck Protection Program (PPP) is subject to a whole host of rules and restrictions. This alleged PPP ring paid each other for services never rendered to try to hide the money trail. Transferred $335k to Personal Accounts (California -October 29), 63. Share sensitive information only on official, secure websites. While egregious and clear misuse of PPP loan funds presents a clear risk, expenditures that blend business and personal purposes (i.e. High-Living Florida Man (Florida July 27), 29. Depending on the charges, penalties could include up to $1 million in fines and up to 30 years in prison, legal experts say. Businesses around the country has been arraigned on federal charges of wire fraud and charges... Covid-19 relief funds for false CARES Act applications 941s, bank statements, new... Happens when the funds are going to help the nations 31 million small businesses around country... Relentless in the PPP Program ahmad Kanan, formerly of Madison, is charged with PPP fraud ( November. Texas May 19 ), 17 him re-apply through a friend you need to sooner. Bank, and new instances are being announced regularly married Couple Attempting to Flee ( Virginia June 24,. 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