Official websites use .gov 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. The bank recalled one loan and the Government seized funds for the other two. Fahad Shah got $1.5 million in funds. The Feds managed to freeze most of the cash but not before the couple allegedly withdrew $30,000 in cash. He allegedly applied for $441,000 under the Federal Paycheck Protection program. He allegedly obtained $200,000 in Paycheck Protection Program and Economic Injury Disaster loans and used the cash for personal expenses. Transferred $335k to Personal Accounts (California -October 29), 63. He allegedly applied for two loans totaling $119,560 acting as owner of Altin Labs, Inc. India Middleton, 34, of Accokeek, Maryland. Bank of America PPP loans class action overview: Who: Three small businesses are suing Bank of America over its management of PPP loans. Sadleir was Executive Producer on films like, Baoke Zhang, a software engineer at ride share company Lyft, is charged with wire and bank fraud. Man Charged with Identity Theft (Florida August 10), 34. While this information may constitute attorney advertising in some jurisdictions, merely reading this information does not create an attorney-client relationship. Larry Jordan and Sutukh El, two brothers, are charged with fraudulent PPP loan applications to the tune of $7 million, and actually receiving over $600,000. A crucial aspect of the PPP is that companies are only allowed to use the funds they receive for specific authorized purposes. 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. Former Police Officer Sentenced For Money Laundering. Khalil Gibran Green, Sr., 47, of Cleveland, Ohio, pleaded guilty on September 1, 2020, to one count of conspiracy to commit bank fraud and wire fraud in connection with the loan obtained by his business, Impact Creations LLC. Nine EIDL and PPP Loan Applications (Washington October 27), 62. A PPP loan is a Small Business Authority-backed loan that helps businesses keep their workforce employed during the COVID-19 crisis. Postal Inspectors are committed to aggressively pursuing investigations in which the U.S. Mails are used to facilitate criminal schemes.In August 2020, DEA and Postal inspectors tracking drugs mailed to the Fayetteville home of 38-year-old Alicia Quarterman found a written ledger with personal and banking information for several individuals, prosecutors said. The case was brought in Los Angeles, California. This federal statute imposes penalties of up to a $1 million fine and 30 years of federal imprisonment for, "knowingly execut [ing], or attempt . Due to a high volume of calls, we are unable to take on more PPP clients at this time. Three people she allegedly claimed as staff told investigators they never heard of her company. According to the SBA, thePaycheck Protection Program ended on May 31, 2021. Both are fraud. 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. Search our database that is tracking this information. The complaint states he applied on behalf of fake companies with names like White Walker, Khaleesi, and The Nights Watch. Dinesh Sah of Dallas was indicted on charges he filed 15 fraudulent loan applications to 8 lenders in the total amount of $24.8 million. Melvin Stout, his wife Tiffany Acuff and sister Valerie Watson pleaded guilty to making a false statement and obtaining loans through Paycheck Protection Program. In July, the Feds seized $866,019 from his bank accounts. Clients and prospective clients should be aware that when referencing to Firm's experience, this experience may combine the knowledge and experience of both Firm and its frequently used Local Counsel in the aggregate. Dr. Nick Oberheiden, founder of Oberheiden P.C., focuses his litigation practice on white-collar criminal defense, government investigations, SEC & FCPA enforcement, and commercial litigation. A few individuals will be arrested stripped of their material things. Firm's lawyers are only licensed to practice state law in the states mentioned in their respective biographies. Under 18 U.S.C. PPP Loan Fraud List | Who Got a PPP Loan? Federal authorities are targeting companies and individuals suspected of defrauding the Paycheck Protection Program (PPP). Check with your attorney and/or accountant with questions. 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. 95% Success Rate. Millions of Americans eventually will apply for forgiveness. Terry was sentenced to 65 months in federal prison for other cases. IT Services Company Owner (Massachusetts June 22), 15. I turner a small business in for Fraud that got a PPP Loan and nothing happened to them. Call 888-680-1745 for Central Intake with Dr. Nick Oberheiden, https://lawyers.findlaw.com/lawyer/practice/white-collar-crimes, https://lawyers.findlaw.com/lawyer/practice/business-commercial-law, https://www.sba.gov/funding-programs/loans/covid-19-relief-options/report-id-theft-fraud, https://bench.co/blog/operations/how-to-apply-first-ppp-loan/, https://www.schwabe.com/newsroom-publications-a-guide-to-the-sba-ppp-loan-forgiveness-review-process, request a free PPP risk assessment online, Anti-Counterfeiting & Brand Protection Attorneys. They allegedly used the proceeds to make down payments on personal homes. Thomas Smith, Stephen Smith, Samuel Davis Jr., Robert Hamilton, and Jonathan Henley were indicted for an alleged scheme to fraudulently obtain more than $1.1 million in PPP loans. 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. Every case is different, any prior result described or referred to herein cannot guarantee similar outcomes in the future. Attorneys for the Northern District of Georgia, Twenty-two defendants charged in connection with alleged $11.1 million Paycheck Protection Program fraud scheme, https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form, Arizona man pleads guilty to extorting Georgia Tech, Georgia woman charged with stealing over $450,000 in government and retirement benefits. This case is being investigated by the Federal Bureau of Investigation, the Internal Revenue Service-Criminal Investigation, the U.S. Treasury Inspector General for Tax Administration, and the Small Business Administration-Office of the Inspector General. Also, the EIDL loan application date has been extended through 2021. The Coronavirus Aid, Relief, and Economic Security (CARES) Act is a federal law passed in March 2020 that provided $2.2 trillion dollars in emergency financial assistance to the millions of Americans who are suffering the economic effects caused by COVID-19. Dwan Ashong a/k/a Dwan Gilpin, 40, of Jacksonville, Florida, is charged with conspiracy to commit wire fraud, wire fraud, and money laundering in connection with her involvement in several businesses loans. Even if only one PPP loan was obtained, attempting to obtain more than one loan can still lead to criminal prosecution. If you dont know, those are characters from the Game of Thrones TV series. Forged account statements. Number of Loans Approved. Andrew Marnell of Los Angeles is charged with bank fraud. A .gov website belongs to an official government organization in the United States. Jase DePaul Gautreaux aka Jase Dixon, a funeral director in Houston, is charged with seeking $13 million in loans and ultimately receiving over $1.6 million. NOTICE: Prior results do not guarantee similar outcomes; attorney advertising. Use our searchable database to see who in Georgia received funds. Andre Gainess sentencing is set for October 6, 2021 before Judge J.P. Boulee. By using this website, you accept the terms of our Visitor Agreement and Privacy Policy, and understand your options regarding Ad Choices. Phillip J. Augustin of Coral Springs, Florida, is accused of using his talent management agency and connections with professional athletes to engage in an alleged fraud of breathtaking scale, involving 90 PPP loan applications and $17.4 million. 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. Goldstein allegedly transferred $355,000 in his personal bank account. 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. Justice Department announces charges brought against 57 people for PPP fraud, representing $175 million in alleged fraud. The Justice Department alleges that George submitted identical wage information and employee count records for two separate companies, one of which was out of business since 2015. 4 Of The Best Ice Cream Spots In The Atlanta Area Vegan, Too! 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. Authorities seized the yacht, car, and various bank and investment accounts. Argires allegedly filed two fraudulent PPP applications seeking $1.1 million in forgivable funding. Man Out on Charges Buys Harley (Nevada August 21), 37. Agents from the FDIC OIG, SBA OIG and IRS-Criminal Investigation (CI) investigated. But they apparently werent creative enough, as they submitted nearly identical applications each with 16 employees, and used identical fraudulent quarterly tax returns. See the SBA website for updated forgiveness information. And for how much? Attorneys Tal Chaiken and Nathan Kitchens of the Northern District of Georgia and Trial Attorney Siji Moore of the Criminal Divisions Fraud Section are prosecuting the case. In connection with the investigation, the United States seized nearly $4 million in PPP loan proceeds, four luxury vehicles, and several jewelry items. 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. Local Basketball Coach Indicted (Florida November 13), 66. 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. 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. Legitimate small companies and self-employed individuals needed speed. 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. Suite 600 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. The pair are charged with submitting 18 fraudulent Paycheck Protection applications with false payroll tax returns, and receiving $1.4 million. 43. If an applicant knowingly answers any of these questions falsely, it may face False Claims Act liability.. Then he allegedly used $689,000 to buy a luxury catamaran yacht. 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. Man Flashes $100 Bills in Rap Video (New York September 10), 48. Sandra D. Smith has been arraigned on federal charges of wire fraud and theft of government funds. Gaines is set to be sentenced on October 6. He allegedly claimed to have 250 employees when there is no record of any in his business, Rai Family LLC. He then went on a luxury buying blitz acquiring a Lamborghini Urus, a Rolex watch, a 2020 Ford F-350 pickup truck, and real estate according to allegations. Dr. Nick Oberheiden is a nationally recognized expert on PPP loan laws. He allegedly blew through about $200,000 in Las Vegas casinos, where he was caught on surveillance cameras at a Bellagio blackjack table. 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? Secure .gov websites use HTTPS Miami Chiropractor (Florida July 29), 31. The Justice Department is hot on their trail. The Small Business Administration has released a list of businesses that have received emergency pandemic loans. 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. Respective biographies Judge J.P. Boulee alleged fraud, Khaleesi, and receiving $ 1.4 million applications false... 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