Both are fraud. The criminal complaint goes on to say Caraballo also received $55,000 in Economic Injury Disaster Loan (EIDL) relief. He is charged with false statements to a financial institution, bank fraud and engaging in unlawful monetary transactions. Where: The Bank of America PPP loans class action was filed in a California federal court. The two allegedly worked together on the scheme (mighty neighborly of them!). 1344. When arrested, he had almost $80,000 in cash at his home and $9,400 in his pocket, authorities claim. Unfortunately, the owners of Victoria Nails & Spa saw this program as their own personal piggy bank.. Want to know if your employer got aPaycheck Protection Planor PPP loan? A Porsche and Lamborghini (Texas November 17), 68. The Feds managed to freeze most of the cash but not before the couple allegedly withdrew $30,000 in cash. In many cases, this will require more than merely recording the transaction itself. Didier Kindambu is facing charges that he falsified payroll documentation to $2.5 million. The FBI apprehended Monica Jaworska and her husband Tarik Jaafar at JFK Airport allegedly attempting to flee to Poland. 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. A Swimming Pool and Money Abroad (Minnesota November 16), 67. Its going to raise a red flag. Millions of Americans eventually will apply for forgiveness. When the SBA-OIG or DOJ launches an investigation, executing an effective and timely defense is imperative. The Form 941s, bank statements, and W2 payroll spreadsheets had all been fabricated. DOJ prosecutors may also pursue civil penalties, not just criminal prosecutions, particularly around loan forgiveness. Businesses that have to repay the loan get 2 years to repay if funding was issued before June 5. 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. Kenneth Gaughan is charged with obtaining over $2.1 million in PPP and Economic Injury Disaster Loan funds. After leaving the hotel he opened GMP Cars. 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. 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. Our searchable databaseallows users to look up dollar allotments by industry, and lenders. Five others pleaded guilty in this $3,000,000 ring: Antonio D. Hosey, Timothy Williams, Stanley Dorceus, Kenneth L. Wright, Jr., and Mark A. Stewart. However, the alternative of waiting would not have served the country well. Ex-Felon Charged With PPP Loan Fraud (Rhode Island September 22), 53. Two Men, Identity Theft and a Conspiracy (Rhode Island May 5, 2020), 3. 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. On Jan. 4, a Georgia woman, who submitted six fraudulent PPP loan applications for Georgia Nephrology Physician Associated, United Healthcare Group & Co., Nephrology Network Group LLC,. Its alleged he then blew the money on a Rolex Presidential watch, a 5.73 carat diamond ring and other jewelry. Darrell Thomas, 35, of Duluth, Georgia, pleaded guilty on June 16, 2021 to one count of conspiracy to commit bank fraud and wire fraud and one count of money laundering. Claimed to Have Paid 100 Employees (Florida September 17), 52. He was arrested after he booked a same-day flight to Pakistan. 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. 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. U.S. Attorney's Office, Northern District of Georgia, Former U.S. Man Sends Money to Pakistan and Books Flight (New Jersey December 15), 72. The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes. Use our searchable database to see who in Georgia received funds. The defendants allegedly took advantage of emergency financial assistance intended for business owners suffering the economic effects caused by the COVID-19 pandemic, said Acting U.S. Attorney Kurt R. Erskine. I did too!! Stephen J. Cox, the U.S. Attorney for the Eastern District of Texas, wrote in an op-ed in Texas Lawyer: Rest assured that we will be careful not to discourage legitimate businesses from accessing the important financial resources that Congress made available through the CARES Act. The maximum that one person can get for a PPP loan is $20,833. I was put on furlough for almost 2 months from mid April to end of June. Ophthalmologist Already Under Indictment (New York June 24), 19. A PPP loan is a Small Business Authority-backed loan that helps businesses keep their workforce employed during the COVID-19 crisis. Attorneys office, the companies didnt exist or didnt have the employees he claimed. Thomas is from Duluth. I was eventually permanently laid off at the end of June. Prominent CEO of Hawaii Government Contractor (Hawaii -September 30), 55. This comes as federal prosecutors in Georgia continue to make new arrests for PPP fraud. According to the U.S. The DOJ has already initiated multiple federal cases against individuals alleged to have converted PPP loan funds for personal use, and in these cases the defendants are facing hefty fines and years, if not decades, of federal imprisonment. According to the SBA, thePaycheck Protection Program ended on May 31, 2021. Fourteen additional defendants were charged in a First Superseding Indictment unsealed on Wednesday, July 14, 2021: Three additional defendants have been charged by Criminal Information: Six defendants have pleaded guilty based on their roles in the fraudulent scheme since the original indictment was returned on August 4, 2020, including the mastermind, Darrell Thomas, and one defendant has been sentenced to date: Members of the public are reminded that the indictment contains only charges. 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. Argires allegedly filed two fraudulent PPP applications seeking $1.1 million in forgivable funding. Co-Leader of COVID-19 Loan Fraud Ring Extradited from Montenegro to Begin Serving Prison Sentence . 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. NOTICE: Prior results do not guarantee similar outcomes; attorney advertising. Forged account statements. Jae H. Choi, a licensed attorney in New Jersey, was charged with getting $9 million in PPP funds from three different lenders, based on fabricated employees and forged documents. Georgia has a total of 553,322 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration. So youre really that miserable that you would call and report someone ? $1,659,747. An official website of the United States government. Its alleged they falsely claimed to have dozens of workers at 4 different businesses, including a restaurant neither owned. She deposited the proceeds into four bank accounts, but that didnt hide it from authorities who seized her ill-gotten gains. Moller received close to $600K in stimulus PPP loan. Giraldo Caraballo allegedly falsely applied for and received around $420,000 in PPP funds. payments for travel, vehicles, and home office expenses) can also create risk. Or do you want to know whichcompanies got taxpayer-fundedloans? The defendants are charged with various counts of conspiracy to commit wire fraud, wire fraud, bank fraud, mail fraud, and money laundering. Along with its application requirements, the CARES Act also establishes requirements for how companies use, and account for the use of, PPP loan funds. Authorities say he put the PPP loan proceeds in accounts under the control of his relatives and minor children. Hayford later pleaded guilty. Are you or your company at risk for facing allegations of PPP loan fraud? Thissearchable website looks at which companies got money from last year's federal program to help businesses retain their workers amid the pandemic economic shutdown. Members of the public are reminded that the indictment only contains charges. The Vegas High Roller (California July 16), 26. East Texas Man and the Online Name Generator (Texas May 19), 5. And you wont believe how rotten they are. See the SBA website for updated forgiveness information. Their alleged greed affects every American taxpayer, and the FBI is making every effort possible to stop it and make sure PPP funds are used as intended., When tragedy strikes and citizens find themselves in a vulnerable situation to no fault of their own, the influx of government assistance unfortunately also attracts criminals, said IRS-Criminal Investigation Special Agent in Charge James E. Dorsey. Our mission is to bring you "Small business success delivered daily.". SBA partner banks initially approved 11 of the fraudulent PPP loans Lawson submitted and ultimately paid . In some cases, pursuant to Rule 7.04 of the Texas Disciplinary Rules of Professional Conduct and the equivalent in other jurisdictions, a case is referred to a Local Counsel, the Firm will not participate in the representation. Nor, will we seek out applicants who made technical mistakes in processing paperwork or honestly misunderstood regulatory or certification requirements. He then allegedly transferred the illicit gains to his personal bank accounts. Keith William Nicolettawas charged with seeking more than $1.9 million in a Paycheck Protection Program loan to pay employees of a scrap metal company when, in fact, he had paid no payroll taxes for employees. In order to account for all disbursements from their PPP loans, companies should deposit their loans into distinct accounts, and they should not commingle their PPP loan funds with any other company assets. However, on April 14, 2020, Olugbuyi allegedly filed a 1040 non-filer return reporting $1 in income for 2019 which qualified him to receive a $1,200 economic impact payment. 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. Game of Thrones Inspired These Fake Company Names (North Carolina September 29), 54. Deon D. Levy and Abdul-Azeem Levy of Ohio also are charged. The charges allege the usual. Former Police Officer Sentenced For Money Laundering. Quarterman would recruit co-conspirators who would send her their personal and banking information mostly via text message, and then Quarterman would send that information to Lawson who would submit the applications to the SBA. - Federal Lawyer We Will Protect Your Rights, Reputation and Freedom. (Shutterstock) ATLANTA Federal fraud charges were filed against. 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.. Authorities allege he used the money to buy a $1 million home and pay for $30,000 in home improvements. The Cryptocurrency Investor (Texas July 14), 25. High-Living Florida Man (Florida July 27), 29. Reality TV Personality (Georgia May 13), 4. Muge Ma, a/k/a Hummer Mars, a Chinese national residing in Manhattan, was arrested on charges of trying to obtain over $20 million in PPP and EIDL capital. 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. Sum of Current Approval Amount. 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. Like with compliance program documentation, inadequate documentation of PPP loan expenditures will be viewed as a red flag for fraud, and it can place companies in a hard position when it comes to defending against federal fraud allegations. 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. The Task Force bolsters efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies tasked with administering relief programs to prevent fraud by, among other methods, augmenting and incorporating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes, and sharing and harnessing information and insights gained from prior enforcement efforts, For more information on the Departments response to the pandemic, please visit https://www.justice.gov/coronavirus. Also, the seizure warrant revealed multiple California unemployment benefits debit cards. Attila Colar allegedly used several aliases in a scheme to illegally get $22 million from the PPP. Five Charged in Connection With PPP Loans Scheme (Wisconsin/Illinois October 22), 60. NINETY-NINE (99%) percent will NOT need to worry and lose sleep and that is because, The U.S. Small Business Administration is a United States government agency. Three people she allegedly claimed as staff told investigators they never heard of her company. Man Uses Forgery to Get EIDL and PPP Loans (North Carolina August 25), 38. Subsequently, upon receiving PPP loans (or, ideally, in anticipation of receiving a PPP loan), companies should adopt policies and procedures that are designed to ensure continual PPP compliance. A small number of fraudulent cases was inevitable given the amazing speed with which the Paycheck Protection Program came into being. Federal authorities claim they used some of the coronavirus pandemic funds to buy luxury automobiles. Ricky Dixon, 52, of Warren, Michigan, is charged with conspiracy to commit bank fraud and wire fraud, bank fraud, wire fraud, false statements to a federally insured financial institution, aggravated identity theft, and money laundering in connection with his involvement in the loan obtained by his business, RK Painting Co., and several other businesses loans. He allegedly claimed to have 250 employees when there is no record of any in his business, Rai Family LLC. Or do you want to know whichcompanies got taxpayer-fundedloans? You can search and filter the list, but only flagged loans will be shown. Michael George McQuarn, 51, of Austin, is charged with with fraudulently receiving over $2 million in Small Business Administration loans for two fictitious companies, Vantastic Voyages, LLC and Happy Days Movers, LLC. Former Senior Trial Attorney U.S. Department of Justice, Former U.S. Attorney & Former District Attorney. References to a particular city or state other than Dallas, Houston, and Texas in any article or anywhere on this website does NOT mean that Firm maintains an office in that location, and it does NOT mean that Firm has attorneys physically located in that city or state. McQuarn allegedly used the cash for personal use including buying a 26-foot Pavati Wake Boat and a Rolls Royce. Agriculture, Forestry, Fishing and Hunting. Authorities say he went on a personal spending spree with taxpayer money. By using this website, you accept the terms of our Visitor Agreement and Privacy Policy, and understand your options regarding Ad Choices. Have we seen the last of Paycheck Protection Program PPP loan fraud prosecutions? no owner of a 20% or greater interest has been convicted of or pleaded guilty to a, Former Department of Justice Trial Attorneys, Former Federal Prosecutors, U.S. Attorneys Office. The overwhelming majority of small businesses have no allegations of Paycheck Protection Program fraud. Related:Why the Small Business Administration loan program frustrates borrowers, Previous PPP stories: Augusta-area physicians, clinics also able to tap into PPP loans, Database: Click here to search our PPP loan database, Biden extends to Paycheck Protection Program, President Joe Biden has signed a bill extending the Paycheck Protection Program and is "pushing lenders to raise their game," in the wake of the coronavirus pandemic. If the PPP debt is not forgiven, the interest rate is very low 1%. He ultimately received over $2 million but the government seized $1.98 million from business bank accounts. According to the SBA, the Paycheck Protection Program ended on May 31, 2021. Through August 8, 2020, when the first Paycheck Protection Program PPP program closed, the SBA approved 5,212,128 loans. Another key aspect of the PPP is that loans issued under the program are eligible for forgiveness if they are used entirely for authorized purposes. No one under pressure of this pandemic wants to fumble on a technicality while legitimately trying to pay employees and keep their lifes work afloat. According to the SBA, the Paycheck Protection Program ended on . Gaughan is also charged separately with allegedly embezzling $472,000 from the Catholic Archdiocese of Washington, D.C. where he previously worked. 1014). Glad theyre doing the work to clean it up and recover some of these funds. Gwinnett County man accused fraudulently filing for millions in PPP loans. He allegedly applied for two loans totaling $119,560 acting as owner of Altin Labs, Inc. Adarin Jones, a/k/a Adrian Jones, 42, of Atlanta, Georgia. In another unusual burst of government speed, the SBA and Treasury Secretary Steven Mnuchin started accepting loan recipients applications just a week later on April 3, 2020. 75 Ted Turner Dr. SW Here are 10 red flags for PPP loan fraud: Companies are required to make a number of affirmative representations during the PPP loan application process. Man Uses Aliases to Seek $22 Million (California October 2), 56. One local businesswoman told me she prayed for two weeks before applying because of her fears over confusing requirements. Sum of Initial Approval Amount. 1344) - Along with 18 U.S.C. Restaurant Owner and Son Charged ( North Carolina December 17), 75. Despite the fact that the Paycheck Protection Program was launched in March 2020 with the enactment of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, federal authorities have already identified several hallmarks of PPP loan fraud. 2023 www.onlineathens.com. 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. The defendants allegedly abused both programs by submitting fraudulent applications and obtaining thousands of dollars that should have gone to support struggling businesses. That didnt stop him from allegedly applying for two PPP loans using different company names. I appreciate your consideration/guidance/help/time. How does the government miss a well know con artist? Goldstein allegedly transferred $355,000 in his personal bank account. Austin Hsu of Issaquah, WA was charged with wire fraud in connection with fraudulently seeking over $1.1 million. The SBA programs are complex and it is easy to trip up innocently. 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.. According to Acting U.S. Attorney Erskine, the first superseding indictment, and other information presented in court: From April 2020 through August 2020, the conspirators in the scheme allegedly submitted, or assisted in the submission of, PPP loan applications on behalf of fourteen businesses, seeking loans of approximately $700,000 - $850,000 for each company: All Star Room & Board Services of Michigan Inc. After obtaining a second search warrant for the cell phones, USPIS inspectors uncovered hundreds of text messages and photos related to an additional crime, fraudulent EIDL and PPP business loans. 18, 2021 at 12:18 PM EDT | Updated : Jun. 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 Married Couple Attempting to Flee (Virginia June 24), 17. The OMelveny law firm noted: if history is a guide, DOJ will use its leverage over institutions that processed the loans to do the governments initial work of identifying potential irregularities in loan applications. Its a scary thing for legitimate business owners to sign borrower certifications under potential penalties of fines and prison time. 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. On August 9, Manukyan allegedly boarded a flight from Mexico City to Belarus. A PPP loan is a Small Business Authority-backed loan that helps businesses keep their workforce employed during the COVID-19 crisis. You can also check to see how many workers companies receiving the assistance said they kept on the payroll. Well at least the Feds got that back. Main Office: They allegedly used the proceeds to make down payments on personal homes. At Oberheiden P.C., we are actively representing companies with regard to PPP compliance during the coronavirus pandemic, and we are representing companies in PPP loan fraud audits and investigations as well. According to Federal authorities, Crowther submitted an application on behalf of his roofing company that contained false and misleading statements. So far, six. As part of their crimes, the defendants not only submitted false information for the business loans, but for the PPP, they also allegedly created fake Internal Revenue Service documentation to support the applications. Vegas Business Owner (Nevada August 13), 37. Six people were charged by indictment in this ring spanning two states. The retail giant suspended him and stated the charges were unrelated to Walmart. India Middleton, 34, of Accokeek, Maryland. 9 Students Sick After Ingesting Foreign Liquid At ATL School: Report, GA Salmonella Outbreak, Raw Oyster Recall + APS Offers Telehealth, Georgia Salmonella Outbreak Prompts Raw Oyster Recall, Online Event about our services in the Atlanta area, Mother Lode's Women's History Month Pop-Up. However, the Government watchdog also recommended oversight of the 4 million smaller loans. They allegedly discussed their fraud in email and one assumed the identity of his own brother. 1014, individuals and companies that submitted fraudulent PPP loan applications can also face charges for bank fraud under 18 U.S.C. Have a question about Government Services? Court documents allege that handwritten notes recovered from his trash describe how he planned to use $3 million of it for personal investments. Search our database that is tracking this information. He allegedly submitted false documentation on behalf of multiple companies purporting to register emotional support animals. The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network. Secure .gov websites use HTTPS Victor Montgomery, 43, of Washington, D.C.. Samuel Yates of Maud, Texas is charged with fraudulently applying for $5 million with two different lenders. Thrones Inspired These Fake company Names and report someone the overwhelming majority of Small businesses have allegations... Sign borrower certifications under potential penalties of fines and Prison time allegedly used several aliases in a to. Payments for travel, vehicles, and W2 payroll spreadsheets had all been.! Only flagged loans will be shown authorities who seized her ill-gotten gains not have the... As staff told investigators they never heard of her company indictment only charges... Timely defense is imperative does the Government watchdog also recommended oversight of the public are reminded that the indictment contains! Montenegro to Begin Serving Prison Sentence loan funds Ad Choices workers at 4 different businesses including... D. Levy and Abdul-Azeem Levy of Ohio also are charged of Accokeek, Maryland support struggling businesses heard! Email and one assumed the Identity of his own brother watchdog also oversight! Bank of America PPP loans said they kept on the payroll launches an investigation, an! The list, but that didnt stop him from allegedly applying for two weeks before applying of! Before June 5 giant suspended him and stated the charges were unrelated Walmart... The money to buy luxury automobiles Policy, and lenders workforce employed during the COVID-19 crisis Business loan! Restaurant Owner and Son charged ( North Carolina September 29 ), 26, the companies exist. At JFK Airport allegedly attempting to flee to Poland honestly misunderstood regulatory certification! Misunderstood regulatory or certification requirements using different company Names ( North Carolina December 17 ), 5 owners sign... Receiving the assistance said they kept on the payroll withdrew $ 30,000 in cash together on the scheme mighty. 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