Again, thorough documentation is imperative, and companies must ensure that all relevant internal personnel are clear about the types of activities that can increase the companys risk of liability in the event of a PPP loan fraud audit or investigation. He allegedly transferred a quarter million dollars of proceeds to his personal brokerage account. Around 1.8 million of the PPP's 11.8 million loans showed signs of fraud, according to an academic working paper cited by The New York Times. 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. But keep it all in perspective. The complaint alleges George provided false and misleading documents and apparently couldnt keep his fake employees straight. However, the alternative of waiting would not have served the country well. I was put on furlough for almost 2 months from mid April to end of June. - Federal Lawyer We Will Protect Your Rights, Reputation and Freedom. The government was able to seize $6.5 million. Court documents allege that handwritten notes recovered from his trash describe how he planned to use $3 million of it for personal investments. Along with Lawson and Quarterman, the federal indictment includes: Charges against the named co-conspirators include various counts of bank fraud, mail fraud, wire fraud, conspiracy to commit wire fraud, and money laundering for a total of approximately $714,000, prosecutors said. 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. This means you have to be just as scrupulous when applying for forgiveness as when you applied for the loan initially. 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. Cherry was on supervised release in an unrelated federal case when he applied to the Small Business Administration program. The defendants allegedly abused both programs by submitting fraudulent applications and obtaining thousands of dollars that should have gone to support struggling businesses. Fraudulent Loans List :: PPP Detective Fraudulent Loans List These loans have been flagged by other users as potentially being fraudulent. Learn about careers at Cox Media Group. Two Men, Identity Theft and a Conspiracy (Rhode Island - May 5, 2020) David Staveley, aka Kurt D. Sanborn, and David Butziger were charged with conspiring to seek over $530,000 in PPP money. In reality, however, none of the businesses had employees or payroll expenses. A lock ( Acknowledging PPP loan applicants compliance burdens (and the limited information that was initially made available to applicants), the U.S. Small Business Administration (SBA) offered a grace period within which companies could return improperly obtained PPP loans without penalty. The PPP promissory note you signed will have the terms applicable to you. Moller received close to $600K in stimulus PPP loan. U.S. Attorney Brian T. Moran said in a statement, I am pleased that the systems designed to detect and deny fraudulent payments caught his scheme before federal funds went out the door.. In order to get Paycheck Protection loans forgiven and not have to repay the loan, owners have to show proof that at least 60% was used for payroll and the rest for other permitted expenses. The criminal complaints describe egregious CARES Act abuse, assuming the government ultimately proves the allegations. Number of Loans Approved. Wells Fargo previously fired him for embezzlement, according to news reports. Legitimate small companies and self-employed individuals needed speed. Deon D. Levy and Abdul-Azeem Levy of Ohio also are charged. Former Police Officer Sentenced For Money Laundering. With that kind of speed, no program could be perfect. 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. Jesika Blakely, 34, of Atlanta, Georgia, is charged with conspiracy to commit bank fraud and wire fraud, bank fraud, wire fraud, false statements to a federally insured financial institution, and money laundering in connection with her involvement in several businesses loans. If you got funding after June 5, you have five years to repay. Ex-Microsoft Executive (Washington July 23), 28. Ultimately Ugarte received funds from Transportation Alliance Bank. Help us crowdsource fraud detection in the PPP program! 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. He received $593,590. 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. Our searchable databaseallows users to look up dollar allotments by industry, and lenders. A $106K Mercedes and a Ford F-250 (Florida October 23), 61. Federal authorities claim they used some of the coronavirus pandemic funds to buy luxury automobiles. 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. Allegedly Hsu applied in the names of current and former employees, and incorporated a fake company also. Under 18 U.S.C. A PPP loan is a Small Business Authority-backed loan that helps businesses keep their workforce employed during the COVID-19 crisis. 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. Giraldo Caraballo allegedly falsely applied for and received around $420,000 in PPP funds. But in this PPP fraudulent case, five individuals from three states are charged with conspiracy to fraudulently get over $4 million and misusing the proceeds. ) or https:// means youve safely connected to the .gov website. The complaint alleges Smith bought a $96K Ferrari and other luxury items and withdrew $271,805 in loan proceeds. 75 Ted Turner Dr. SW 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. Diamond Blue Smith, a recording artist, is charged with being part of the nationwide $24 million scam ring mentioned above. Aditya Raj Sharma, the founder and former CEO of Crosscode Inc., a cloud-based software development company, was charged with misrepresenting facts to get a PPP loan. They allegedly used the proceeds to make down payments on personal homes. Or do you want to know whichcompanies got taxpayer-fundedloans? The loan applicants forgiveness process is bound to trigger another round of scrutiny. This is based on the adage that where there is smoke, there is fire if someone seems concerned about what might be found, there is usually a reason why. 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. Bank Fraud (18 U.S.C. Forged account statements. He allegedly obtained $841,000 in PPP funds for a defunct contracting company with no employees, called True-Cut. Kyle William Brenizer of St. Paul is charged with wire fraud and money laundering. Search. He has contested the charges. Authorities claims Yates used a name generator on the Internet to create names of fake staff. He will just out of prison. Want to know if your employer got aPaycheck Protection Planor PPP loan? A PPP loan is a Small Business Authority-backed loan that helps businesses keep their workforce employed during the COVID-19 crisis. The complaint alleges he ultimately received a loan for over $1 million. 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. Woman Achieves Distinction as 50th Defendant Charged with PPP Fraud (Florida September 3), 46. A .gov website belongs to an official government organization in the United States. Suite 600 Shashank Rai, an engineer from Beaumont, is charged with multiple counts of fraud and false statements to the SBA for seeking more than $10 million in PPP loans. On March 16, 2020, Attorney General William Barr directed all 94 U.S. Attorneys Offices to prioritize investigating and prosecuting PPP loan cases of fraud. See the SBA website for updated forgiveness information. Man Under Indictment (Wisconsin July 8), 21. Andrew Marnell of Los Angeles is charged with bank fraud. Why: The plaintiffs say the bank misled small business owners into taking out pandemic-era Paycheck Protection Program loans that would not be forgiven by the government. Married Couple Attempting to Flee (Virginia June 24), 17. Great Article! Izzat and Tarik Freitekh, a father-son duo, were charged with lying and forging IRS records to obtain $1.7 million in PPP funds for three different businesses. Hopefully someone will find this. The impact of COVID-19 on small businesses around the country has been devastating, said Acting U.S. Attorney Kurt R. Erskine. We have a new Administration in Washington, but government officials in the Justice Department have not signaled a change in enforcement policy. Ten people indicted in Metro Atlanta, Houston and D.C.-Maryland area on federal fraud charges for false CARES Act applications. Call 888-680-1745 for Central Intake with Dr. Nick Oberheiden Criminal Law & Process, PPP fraud What are the Red Flags for PPP Loan Fraud? payments for travel, vehicles, and home office expenses) can also create risk. According to the SBA, the Paycheck Protection Program ended on . Ahmad Kanan, formerly of Madison, is charged with wire fraud and money laundering. 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. Authorities say he went on a personal spending spree with taxpayer money. According to Acting U.S. Attorney Erskine, the indictment, and other information presented in court: On August 11, 2020, agents with the U.S. 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 indictment alleges Kanan was under federal indictment on an unrelated matter at the time. 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 Uzoamaka Leonard Ohaebosim was charged for allegedly falsifying payroll documents to obtain $1.2 million for his movie company, Spite the Movie. Law enforcement recovered all the proceeds. Kindambu made some expensive personal purchases that authorities say were not permissable under the loan terms, including the plane the Lexus. A discovery by the U.S. Sadleir was Executive Producer on films like, Baoke Zhang, a software engineer at ride share company Lyft, is charged with wire and bank fraud. Prominent CEO of Hawaii Government Contractor (Hawaii -September 30), 55. He allegedly claimed to have 250 employees when there is no record of any in his business, Rai Family LLC. According to U.S. Attorney James Kennedy, Mr. Lock Chanchikyan has pleaded not guilty, and his trial is scheduled for October 4, 2022. Man Charged with Identity Theft (Florida August 10), 34. 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. 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. But they apparently werent creative enough, as they submitted nearly identical applications each with 16 employees, and used identical fraudulent quarterly tax returns. Share sensitive information only on official, secure websites. With few case-by-case exceptions, Firm's practice is limited to matters and questions of federal law and federal procedure. A 2020 Bentley Continental and Cadillac Escalade (New York December 21), 77. 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. Eight other defendants include Damion O. Mckenzie, Andre M. Clark, Keyaira Bostic, Wyleia Nashon Williams, James R. Stote, and Ross Charno, all of Florida. Its alleged they falsely claimed to have dozens of workers at 4 different businesses, including a restaurant neither owned. Surely the government does a personal credit check on the owner unless he falsified his identity. He is charged with false statements to a financial institution, bank fraud and engaging in unlawful monetary transactions. ("Firm") works with affiliated lawyers (referred to as "Local Counsel") in various cities and states across the United States. Tranesha Quarterman, 33, 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. He then allegedly transferred the illicit gains to his personal bank accounts. They allegedly discussed their fraud in email and one assumed the identity of his own brother. Sum of Forgiven Amount. Main Office: 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. is headquartered in Dallas, Texas and it only maintains a fully equipped office in Dallas and Houston. But the program attracted a few rotten apples that committed PPP loan fraud. Its easy to take risks on day trading and gambling when youre using taxpayer money. Ophthalmologist Already Under Indictment (New York June 24), 19. She deposited the proceeds into four bank accounts, but that didnt hide it from authorities who seized her ill-gotten gains. 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. Anecdotally, however, courts are routinely handing down . Applied for PPP Loan While out on Bail (Tennessee November 9), 64. By using this website, you accept the terms of our Visitor Agreement and Privacy Policy, and understand your options regarding Ad Choices. She is alleged to have obtained nearly $600,000. Sum of Initial Approval Amount. According to the SBA, thePaycheck Protection Program ended on May 31, 2021. Man Uses Forgery to Get EIDL and PPP Loans (North Carolina August 25), 38. Heres a list of the PPP loan prosecutions to date: 1. 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. The government issued a seizure warrant for a Mercedes Benz SUV and more than $500,000 from a bank account. NEED I SAY MORE! Have we seen the last of Paycheck Protection Program PPP loan fraud prosecutions? 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. 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. 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 Feds froze his bank account and recovered $402,000. Suite 600 IRS-CI will continue to help illuminate these criminal deeds with our financial expertise., The Treasury Inspector General for Tax Administration aggressively pursues those who endeavor to defraud programs afforded to the American people under the CARES Act, said J. Russell George, the Treasury Inspector General for Tax Administration. He allegedly lied about his criminal past, and submitted fake tax documents including names of people who did not work for the businesses. This federal statute imposes penalties of up to a $1 million fine and 30 years of federal imprisonment for, "knowingly execut [ing], or attempt . Use our searchable database to see who in Georgia received funds. The complaint states he applied on behalf of fake companies with names like White Walker, Khaleesi, and The Nights Watch. Six individuals, including the schemes mastermind, Darrell Thomas, have pleaded guilty. Lyft Software Engineer (Washington May 22), 9. 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. Jorge Abramovs was charged in an indictment with bank fraud, making false statements to a bank, and money laundering. Robert, youre probably right about finding fraud for years to come. He also allegedly squandered cash at luxury retailers and Miami resorts. Joshua Thomas Argires of Houston was arrested on various fraud charges. 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. Georgia has a total of 553,322 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration. Acting U.S. Attorney Kurt Erskine issued an update on his office's efforts to combat fraud related to schemes targeting the Paycheck Protection Program (PPP), a loan program created by Congress to help small businesses pay payroll, interest on mortgages, rent, and utilities during the COVID-19 pandemic. Darryl Washington, 66, of Atlanta, Georgia. Then turns around and starts writing checks to Lamborghini dealerships. Andre Lee Gaines, 67, of Dallas, Georgia, pleaded guilty on June 17, 2021 to one count of making false statements to the FBI in connection with the loan obtained by his business, Gaines Reservation and Travel. * * * DOJ will almost certainly expect cooperating institutions to provide investigative leads and will likely pursue those leads primarily through its own resources where it can., So imagine this scenario. While this information may constitute attorney advertising in some jurisdictions, merely reading this information does not create an attorney-client relationship. 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. 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. Diverted Funds to Relatives and Minor Children (New Jersey November 19), 70. He allegedly lied about not being under criminal charges he in fact was under indictment for a bribery scheme. Well at least the Feds got that back. Transferred $335k to Personal Accounts (California -October 29), 63. The charges allege he applied several times to get aid totaling $3 million, in the names of businesses with no actual operations. Ganell Tubbs, the entrepreneur owner of Little Piglet Soap Company and Suga Girl Customs, an Etsy shop, is charged with fraudulently obtaining nearly $2 million in PPP loan. Lets hope the entire government is on the same page as Mr. Cox. As part of his guilty plea, Darrell Thomas admitted his participation in fraudulent conduct totaling more than $14.7 million, including more than $11.1 million in fraudulent PPP loans, more than $1.15 million in fraudulent Economic Injury Disaster Loans, and more than $2.4 million in fraudulent automobile loans. According to prosecutors, the defendants allegedly submitted, or assisted in submitting, PPP loan applications for 14 businesses between April and August 2020. Report fraud/thefthttps://www.sba.gov/funding-programs/loans/covid-19-relief-options/report-id-theft-fraud What are the Red Flags for PPP Loan Fraud? Find an attorney to defend youhttps://lawyers.findlaw.com/lawyer/practice/white-collar-crimes 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. Steven R. Goldstein and his business partner, Raymond Magana are charged with applying for $2.5 million in loans and actually receiving over $1.95 million. Three people she allegedly claimed as staff told investigators they never heard of her company. Attorneys, including the Fraud Section, have resulted in a variety of charges, including wire fraud (18 U.S.C. Businesses that have to repay the loan get 2 years to repay if funding was issued before June 5. The defendants are charged with various counts of conspiracy to commit wire fraud, wire fraud, bank fraud, mail fraud, and money laundering. Carlos Belone was charged with wire fraud and other charges in connection with several fraudulent applications. Besides Alicia Quarterman, 38, of Fayetteville, Georgia, and Katrina Lawson, 41, of Houston, Texas, the following individuals also participated in the scheme and are charged in the indictment: Overall, between July 1, 2020 and August 11, 2020, Quarterman sent Lawson the information for about 48 different individuals, and she allegedly completed approximately 58 fraudulent EIDL applications, seeking $490,000. Firm's lawyers are only licensed to practice state law in the states mentioned in their respective biographies. Fewer than 150 defendants out of of over 5.2 million loans is a minuscule percentage. 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. Agriculture, Forestry, Fishing and Hunting. PPP Loan Fraud List | Who Got a PPP Loan? 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. She allegedly claimed to have 73 employees at her Dayton private investigation company. It is not intended as legal advice. East Texas Man and the Online Name Generator (Texas May 19), 5. The complaint also states he was convicted of four counts of bank robbery and fraud previously. India Middleton, 34, of Accokeek, Maryland. 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. Amir Aqeel, Siddiq Azeemuddin, Rifat Bajwa, Pardeep Basra, Mayer Misak, Maurico Navia, and Richard Reuth allegedly participated together in filing more than 80 fraudulent Paycheck Protection Program applications for $16 million. Azhar Sarwar Rana, 30, of Newton, New Jersey, was charged for submitting a fraudulent application for a real estate development company, and falsified payroll data. 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. You can also check to see how many workers companies receiving the assistance said they kept on the payroll. Tonye Johnson was also charged with getting a PPP loan of $389,627and paying a portion of the loan proceeds to his co-conspirators. Under the terms of the PPP, utilizing loan funds for personal expenses is expressly prohibited. Celebrities, entertainers and business leaders are among 19 people recently indicted in Georgia on charges that they defrauded the Paycheck Protection Program for a total of more than $3 million. John Gaines a/k/a Marty Gaines, 56, of Marietta, Georgia, is charged with conspiracy to commit bank fraud and wire fraud, bank fraud, wire fraud, false statements to a federally insured financial institution, and money laundering in connection with the loan obtained by Gaines Reservation and Travel. I appreciate your consideration/guidance/help/time. He claimed to have 400 employees but actually had zero. I appreciate your consideration/guidance/help/time. In such a case, a client will sign an engagement exclusively with the Local Counsel. Tiara Walker was charged with conspiracy and fraud charges involving a crime ring that prepared at least 90 fraudulent applications and attempted to get $24 million, ultimately receiving $17.4 million dollars. We will work tirelessly to protect the integrity of the EIDL and PPP and to help small businesses stay afloat.. Martin Kao, the CEO of Navatek LLC (now known as Martin Defense Group LLC), was charged in a federal complaint with fraudulently obtaining $12.8 million in CARES Act loans. The Internet address for the U.S. Attorneys Office for the Northern District of Georgia is http://www.justice.gov/usao-ndga. Justice Department representatives say honest owners acting in good faith shouldnt worry. A Cessna Aircraft and a Lexus (Virginia October 20), 59. Former Police Officer Sentenced For Money Laundering. For years to repay if funding was issued before June 5 they used of. Actual operations this website, you accept the terms of the PPP promissory you! William Brenizer of St. Paul is charged with being part of the PPP program Tennessee November 9 ),.! The Paycheck Protection program ended on will Protect your Rights, Reputation and.!, 46 the allegations we have a New Administration in Washington, but that didnt hide it from who... 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