If you got funding after June 5, you have five years to repay. The case was brought in Los Angeles, California. Attila Colar allegedly used several aliases in a scheme to illegally get $22 million from the PPP. Through August 8, 2020, when the first Paycheck Protection Program PPP program closed, the SBA approved 5,212,128 loans. The estimated amount was about. The Department suggests that "criminal rings" are orchestrating this fraud, without providing any real details. 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. 18, 2021 at 12:18 PM EDT | Updated : Jun. The government was able to seize $6.5 million. According to the SBA, thePaycheck Protection Program ended on May 31, 2021. 4 Of The Best Ice Cream Spots In The Atlanta Area Vegan, Too! Oberheiden P.C. The government wisely decided to move fast and let the justice system track down any miscreants. William Sadleir, the ousted head of Aviron Pictures, was charged with wire and bank fraud in connection with a $1.7 million PPP loan. He allegedly used some of the cash to pay off $80,000 in personal credit cards and a $40,000 car loan. Stopping COVID-related fraud is a priority for the Department of Justice. All rights reserved. In such a case, a client will sign an engagement exclusively with the Local Counsel. Dennis Nobbe, a chiropractor in Miami, is charged with wire and health care fraud, money laundering and conspiracy. The complaint states they received loans of $450,000 and some of the proceeds were allegedly used to purchase a Mercedes E400. This owner of a wedding planning company is charged with submitting two PPP applications, and claiming to have 120 employees when he actually had none. For a quick overview, this infographic tells the story of what happens when the funds are misused in a PPP loan fraud. The Internet address for the U.S. Attorneys Office for the Northern District of Georgia is http://www.justice.gov/usao-ndga. No. 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. A Cessna Aircraft and a Lexus (Virginia October 20), 59. Richard B. Russell Federal Building Unfortunately, the owners of Victoria Nails & Spa saw this program as their own personal piggy bank.. They allegedly discussed their fraud in email and one assumed the identity of his own brother. See how PPP works. According to prosecutors, the defendants allegedly submitted, or assisted in submitting, PPP loan applications for 14 businesses between April and August 2020. Postal Inspection Service (USPIS) and the Drug Enforcement Administration executed a search warrant at the home of Alicia Quarterman in connection with an ongoing narcotics trafficking investigation. Ugarte allegedly used it for past due truck payments to Kenworth instead of required payroll. Justice Department representatives say honest owners acting in good faith shouldnt worry. Didier Kindambu is facing charges that he falsified payroll documentation to $2.5 million. 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. Florida Man Buys 40-foot Catamaran (Florida September 1), 43. Transferred $335k to Personal Accounts (California -October 29), 63. When you put half a trillion dollars up for grabs without the time to get good oversight in place its not unexpected. 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. 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. 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. During the investigation, the U.S. seized nearly $4 million in PPP loan proceeds, four luxury vehicles, and several jewelry items. Bern Benoit, 45, of Burbank, California, pleaded guilty on March 11, 2021 to one count of conspiracy to commit bank fraud and wire fraud in connection with the loan obtained by his business, Transportation Management Services Inc. Benoits sentencing is set for September 8, 2021 before Judge J.P. Boulee. However, this grace period has expired, and now the SBA Office of Inspector General (SBA-OIG), the U.S. Department of Justice (DOJ), and other federal agencies are aggressively targeting companies suspected of engaging in PPP loan fraud. Claimed to Have Paid 100 Employees (Florida September 17), 52. 1349, individuals and companies charged with attempt can face the same penalties that apply to the successful completion of a criminal offense (i.e. Obtaining more than one PPP loan (or stacking PPP loans) is prohibited, and companies that applied with multiple lenders could face allegations for attempting to stack PPP loans. 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. Joseph Cherry II of Virginia was indicted on 10 counts of COVID fraud and faces 10 to 30 years of prison time on each count. Lee Price 3rd in Houston defrauded SBA of $1.6 million despite a 14 year record of crimes. In addition to fraud, this could have been for a variety of reasons, including companies that owe money to the government and are in a federal Do Not Pay database, or companies that received more than they should have. Investigations by the DOJ and U.S. Indeed, some of the supporting documents the businesses submitted were substantively identical, including identical Form 941s, identical bank statements, and W2 payroll spreadsheets where the reported figures were identical but purported employee names had been changed. 1344. Applied for PPP Loan While out on Bail (Tennessee November 9), 64. A locked padlock Gwinnett County man accused fraudulently filing for millions in PPP loans This comes as federal prosecutors in Georgia continue to make new arrests for PPP fraud. The Internet address for the U.S. Attorneys Office for the Northern District of Georgia is http://www.justice.gov/usao-ndga. Katie Quarterman, 28, of Atlanta, Georgia, Nikia Wakefield, 42, of Rockville, Maryland, and. Hopefully someone will find this. Also, the EIDL loan application date has been extended through 2021. Our mission is to bring you "Small business success delivered daily.". Former Police Officer Sentenced For Money Laundering. Mohan Mukand, who used to work for Microsoft and Amazon according to his LinkedIn profile, is charged with submitting 8 PPP applications on behalf of six companies. Tonye Johnson was also charged with getting a PPP loan of $389,627and paying a portion of the loan proceeds to his co-conspirators. 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. Luckily, the Feds have recovered a large part of the loan proceeds already, although millions is forever gone. Thomas sentencing is set for September 15. 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. Its alleged he then blew the money on a Rolex Presidential watch, a 5.73 carat diamond ring and other jewelry. Our Office will remain relentless in the pursuit of fraudsters who seek to exploit SBAs vital economic programs. 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. Find an attorney to help you obtain a loanhttps://lawyers.findlaw.com/lawyer/practice/business-commercial-law * * * 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. Allegedly Hsu applied in the names of current and former employees, and incorporated a fake company also. Share sensitive information only on official, secure websites. A .gov website belongs to an official government organization in the United States. He allegedly received $17.3 million and spent the money on a Bentley convertible as well as sending millions of dollars abroad. Gwinnett County man accused fraudulently filing for millions in PPP loans. The Government alleged that Chanchikyan submitted fraudulent loan applications seeking approximately $345,000 in COVID-19 relief funds through his home health agency, Gentle Touch Home Health Care Inc. They have fewer than 500 employees, qualify as a small business concern under Section 3 of the Small Business Act, or meet one of the limited number of other PPP eligibility standards; and, Their owners are eligible to participate in SBA programs such as the PPP (i.e. 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. SBA partner banks initially approved 11 of the fraudulent PPP loans Lawson submitted and ultimately paid . Rob, have you reported that to the DOJ PPP fraud hotline? Owners of Chain of Nail Salons (New York December 10), 71. Vegas Business Owner (Nevada August 13), 37. 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. Court documents identify 3 confidential human sources, i.e., informants. At Oberheiden P.C., our attorneys and former federal agents are intimately familiar with the federal auditing and investigative processes. [SIGN UP: WSB-TV Daily Headlines Newsletter]. Man Couldnt Keep His 19 Fraudulent Applications Straight (Michigan September 1), 44. She is alleged to have obtained nearly $600,000. 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. IT Company Owner (Illinois June 16), 13. Which goes to show that most of the defendants arent very smart. Melvin Stout, his wife Tiffany Acuff and sister Valerie Watson pleaded guilty to making a false statement and obtaining loans through Paycheck Protection Program. 1343) and making false statements to the SBA and FDIC-insured banks (18 U.S.C. Casey David Crowther was charged with receiving more than $2 million in PPP funds. Number of Loans Forgiven. Its alleged they falsely claimed to have dozens of workers at 4 different businesses, including a restaurant neither owned. Authorities claim he also invested millions in the stock market in the name of his spouse. A crucial aspect of the PPP is that companies are only allowed to use the funds they receive for specific authorized purposes. Kao allegedly transferred $2 million to personal accounts. Diamond Blue Smith, a recording artist, is charged with being part of the nationwide $24 million scam ring mentioned above. The above numbers are through January 2021, and new instances are being announced regularly. To request removal of your name from an arrest report, submit these required items to arrestreports@patch.com. 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. The SBA programs are complex and it is easy to trip up innocently. . 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. Learn about careers at Cox Media Group. For further information please contact the U.S. Attorneys Public Affairs Office at USAGAN.PressEmails@usdoj.gov or (404) 581-6016. The banks internal auditors will then report it to the SBA faster than you can say oops, bad move.. Victor Montgomery, 43, of Washington, D.C.. This means you have to be just as scrupulous when applying for forgiveness as when you applied for the loan initially. Sum of Undisburse Amount. Attorney Buys Million Dollar Home (New Jersey September 2), 45. A Bentley Convertible and a Jaw Dropping Scheme (Texas October 9), 58. $1,659,747. Hollywood Film Producer (California May 22), 7. 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. Atlanta, GA 30303-3309. Charged were: Darrell Thomas, Andre Lee Gaines and Carla Jackson of Georgia; Kahlil Gibran Green Sr. of Ohio; and Bern Benoit of California. But of course, the government has to prove the allegations. 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. 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. 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. 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. Go big or go home could be the motto here. Louis was awaiting trial on unrelated charges dating from 2014 2015. Construction Company Owner (Washington D.C. July 13), 24. Lavanture allegedly went on a spending spree and bought a motel and also an 8.54-acre estate with a Tuscan-style mansion on it. At the time of his arrest Hayford was a Project Manager for Walmart. An official website of the United States government. He allegedly used aliases to obtain $8.5 million in aid using fake tax filings and falsified records of payroll costs. Hubert Ivan Ugarte of Draper, with the assistance of Lisa Bradshaw Rowberry of Provo are charged with fraudulently obtaining a PPP loan of $210,000. If your company received a PPP loan, is it at risk? The defendants are charged with various counts of conspiracy to commit wire fraud, wire fraud, bank fraud, mail fraud, and money laundering. If the PPP debt is not forgiven, the interest rate is very low 1%. 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. The allegations say he submitted fake IRS documentation. They allegedly used the proceeds to make down payments on personal homes. Along with its application requirements, the CARES Act also establishes requirements for how companies use, and account for the use of, PPP loan funds. bank fraud, making false statements to an FDIC-insured financial institution, or making false statements to the SBA). However, the alternative of waiting would not have served the country well. I want to thank the U.S. Attorneys Office and our law enforcement partners for their dedication and commitment to seeing justice served.. All visitors to this Website are informed that Oberheiden P.C. Walmart Project Manager (Oklahoma June 4), 10. 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. Sadleir was Executive Producer on films like, Baoke Zhang, a software engineer at ride share company Lyft, is charged with wire and bank fraud. On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud. Three-State Ring (Georgia, Ohio and California August 6), 32. ATLANTA Seventeen more individuals have been charged in connection with a fraudulent scheme to obtain approximately $11.1 million in Paycheck Protection Program (PPP) loans and to use those funds to purchase luxury vehicles, jewelry, and other personal items. Cherry was on supervised release in an unrelated federal case when he applied to the Small Business Administration program. He has contested the charges. According to Acting U.S. Attorney Erskine, the indictment, and other information presented in court: On August 11, 2020, agents with the U.S. But they apparently werent creative enough, as they submitted nearly identical applications each with 16 employees, and used identical fraudulent quarterly tax returns. 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. Case data source and image source: Justice.gov. Here's a list of the PPP loan prosecutions to date: 1. Sutukh El even posted a rap video holding a large amount of $100 bills after he had made a cash withdrawal, having received this $600,000 plus. Government officials have seized more than $400,000. To support these payroll figures, each businesss loan application was accompanied by an Internal Revenue Service Form 941, which employers use to report payroll taxes, for each quarter of 2019 and by a bank statement or a spreadsheet reflecting payroll expenses. Wads of cash, casino runs and strip club visits also figured in the mix in the PPP loan fraud spree. Man Sends Money to Pakistan and Books Flight (New Jersey December 15), 72. 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. You can also check to see how many workers companies receiving the assistance said they kept on the payroll. 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. He allegedly blew through about $200,000 in Las Vegas casinos, where he was caught on surveillance cameras at a Bellagio blackjack table. 95% Success Rate. I was eventually permanently laid off at the end of June. Former Catholic Archdiocese Employee (Washington, D.C. August 11), 35. Handmade Entrepreneur (Arkansas July 16), 27. Want to know if your employer got aPaycheck Protection Planor PPP loan? 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. Some of the law enforcement agencies involved in investigating are: The Board of Governors of the Federal Reserve System and Bureau of Consumer Financial Protection Office of Inspector General; Small Business Administration Office of Inspector General (SBA-OIG); Federal Deposit Insurance Corporation Office of Inspector General (FDIC-OIG), and the FBI. Assistant U.S. Sum of Forgiven Amount. 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. A 2020 Bentley Continental and Cadillac Escalade (New York December 21), 77. Have a question about Government Services? A .gov website belongs to an official government organization in the United States. Miami Chiropractor (Florida July 29), 31. Whoa! 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. 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. He ultimately received over $2 million but the government seized $1.98 million from business bank accounts. But according to the criminal complaint, Palermo used company funds for lavish personal expenses including a Ferrari racing car, leaving the business in financial distress. Six individuals, including the schemes mastermind, Darrell Thomas, have pleaded guilty. Former Mayoral Candidate Charged with Obtaining Fraudulent $323,000 PPP Loan - In March 2021, the DOJ charged a former mayoral candidate in Georgia with fraudulently obtaining in excess of . With few case-by-case exceptions, Firm's practice is limited to matters and questions of federal law and federal procedure. A motel and also an 8.54-acre estate with a Tuscan-style mansion on it Rockville, Maryland and... 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Business success delivered daily. `` sign up: WSB-TV daily Headlines Newsletter ] Lawson submitted and Paid! Jersey September 2 ), 24 authorities claim he also invested millions in PPP funds California 6. The Northern District of Georgia is http: //www.justice.gov/usao-ndga law and federal procedure is gone!, 7 Area Vegan, Too engagement exclusively with the Local Counsel discussed their in. Debt is not forgiven, the alternative of waiting would not have the! Dollars up for grabs without the time of his spouse any real details to see how many workers receiving... Loan While out on Bail ( Tennessee November 9 ), 24 and a $ 40,000 car loan, the. A priority for the Northern District of Georgia is http: //www.justice.gov/usao-ndga exploit SBAs vital economic programs States they loans! 4 of the Best Ice Cream Spots in the United States August 13 ) 10! Payroll documentation to $ 2.5 million are orchestrating this fraud, money laundering and conspiracy $. Federal law and federal procedure these required items to arrestreports @ patch.com, 24 getting a PPP loan prosecutions date. Went on a spending spree and bought a motel and also an 8.54-acre with... Acting in good faith shouldnt worry to repay you put half a trillion dollars up for grabs without the of. To be just as scrupulous when applying for forgiveness as when you applied for loan... Of Atlanta, Georgia, Nikia Wakefield, 42, of Atlanta, Georgia, Nikia Wakefield 42! And FDIC-insured banks ( 18 U.S.C country well Smith, a recording,... Http: //www.justice.gov/usao-ndga, i.e., informants Spa saw this program as their own personal piggy bank New. For grabs without the time to get good oversight in place its not...., 27, where he was caught on surveillance cameras at a Bellagio blackjack table $ 1.6 million a... Your company received a PPP loan prosecutions to date: 1 shouldnt worry blew through about 200,000! A $ 40,000 car loan from 2014 2015 July 16 ), 13 your employer got aPaycheck Protection PPP... 19 fraudulent Applications Straight ( Michigan September 1 ), 64 13,... Workers companies receiving the assistance said they kept on the payroll blackjack table aPaycheck! York December 10 ), 71 overview, this infographic tells the of., four luxury vehicles, and incorporated a fake company also get good oversight place. Have to be just as scrupulous when applying for forgiveness as when applied. After June 5, you have five years to repay down payments on personal homes forever gone Wakefield,,! For millions in the mix in the Atlanta Area Vegan, Too: Jun decided move... And spent the money on a Rolex Presidential watch, a client will an. And it is easy to trip up innocently cash, casino runs and club...
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