Ugarte allegedly used it for past due truck payments to Kenworth instead of required payroll. Atlanta, GA 30303-3309. Ex-Felon Charged With PPP Loan Fraud (Rhode Island September 22), 53. 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. Former Police Officer Sentenced For Money Laundering. This is the latest in an onslaught of PPP fraud cases in Georgia and across the U.S. . Legitimate small companies and self-employed individuals needed speed. David T. Hines of Miami is charged with fraudulently seeking $13.5 million in PPP funds using false statements about various companies payroll expenses. US Attorney's Office for Middle District of Ga. investigates high volume of PPP loan fraud By Jessie Gibson Published : Jun. 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. 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. It is alleged he got over $190,000 in proceeds and managed to withdraw cash or cashiers checks for $140,000. He allegedly used those funds to buy a 33-foot Cruisers Yacht for $300,000, a $1.13 million rowhouse, and a $46,000 luxury Kia Stinger. Oberheiden P.C. How to apply for a loan on your ownhttps://bench.co/blog/operations/how-to-apply-first-ppp-loan/ Leon Miles was charged with obtaining funds intended for business owners harmed by the coronavirus pandemic. 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. Applied for PPP Loan While out on Bail (Tennessee November 9), 64. 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. Official websites use .gov 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. On January 4, 2021, the DOJ announced that Georgia resident Hunter VanPelt, also known as Ellen Corkrum, was sentenced to nearly 3.5 years in prison (41 months) for PPP loan fraud. It will be viewed as a red flag for fraud in the event of an SBA audit or an SBA-OIG or DOJ investigation if a company does not have documented policies and procedures for PPP compliance. He allegedly used the loot to buy a Tesla car, make personal investments and make his home mortgage payments. 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. The Feds froze his bank account and recovered $402,000. In such a case, a client will sign an engagement exclusively with the Local Counsel. This table shows the top 5 industries in Georgia by number of loans awarded, with average loan amounts and number of jobs reported. Someone we know got 4 PPP loans, all under diff businesses, but almost certain he submitted all the same ppwk for each business. Rahul Shah of Evanston is charged with bank fraud and making false statements to a financial institution. 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. 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. 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. Man Charged with Identity Theft (Florida August 10), 34. Recording Artist Buys Ferrari with PPP Money (Florida October 6), 57. Honestly, I think theyll be finding and prosecuting these for years. Las Vegas Man Hits 7 Different Lenders (Nevada January 28, 2021), 79. 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. As part of the court-authorized search, law enforcement seized Quartermans cell phones and discovered a handwritten ledger with the personal and banking information of several individuals. 1014, individuals and companies that submitted fraudulent PPP loan applications can also face charges for bank fraud under 18 U.S.C. 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. He allegedly received over $1.6 million. 1343) and making false statements to the SBA and FDIC-insured banks (18 U.S.C. He was approved for $3.9 million. What to do if the SBA doesnt forgive your loanhttps://www.schwabe.com/newsroom-publications-a-guide-to-the-sba-ppp-loan-forgiveness-review-process. Louis was awaiting trial on unrelated charges dating from 2014 2015. Also, the EIDL loan application date has been extended through 2021. 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. 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. Thats a great point, Alex! However, the alternative of waiting would not have served the country well. To speak with one of our senior federal compliance and defense attorneys in confidence, call 888-680-1745 or request a free PPP risk assessment online now. He got up to $5.7 million in loans. 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. In August 2021, Ms. VanPelt pled guilted to bank fraud related to submitting six fraudulent PPP loan applications on behalf of six companies she owned or controlled. 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. What are the Red Flags for PPP Loan Fraud? Sadleir was Executive Producer on films like, Baoke Zhang, a software engineer at ride share company Lyft, is charged with wire and bank fraud. Justice Department lawyers remind everyone that, A criminal complaint is merely an allegation and a defendant is presumed innocent until proven guilty beyond a reasonable doubt in a court of law.. Along with its application requirements, the CARES Act also establishes requirements for how companies use, and account for the use of, PPP loan funds. 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. (Shutterstock) ATLANTA Federal fraud charges were filed against. Abramovs allegedly got nearly $2 million from seven lenders. Austin Hsu of Issaquah, WA was charged with wire fraud in connection with fraudulently seeking over $1.1 million. 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. Millions of dollars of coronavirus relief funds meant to keep employees on the payroll were instead blown on extravagant personal spending sprees all by a relatively small handful of people. He is charged with false statements to a financial institution, bank fraud and engaging in unlawful monetary transactions. Woman Achieves Distinction as 50th Defendant Charged with PPP Fraud (Florida September 3), 46. They allegedly discussed their fraud in email and one assumed the identity of his own brother. When seeking forgiveness, companies are required to provide documentation, and they must affirmatively certify as to the accuracy of this documentation and as to compliance itself. 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. Fugitive defendant who fled during trial convicted by federal jury for laundering millions of dollars stolen from fraud victims throughout the U.S. 10 Defendants Indicted In Multi State, Fraudulent COVID 19 Related Business Loan Scheme. A few individuals will be arrested stripped of their material things. Man Flashes $100 Bills in Rap Video (New York September 10), 48. 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. He allegedly blew through about $200,000 in Las Vegas casinos, where he was caught on surveillance cameras at a Bellagio blackjack table. Are you personally at risk as a company owner, board member, executive? 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.. 22-Year Old Hair Extensions Entrepreneur (Texas September 15), 50. The PPP promissory note you signed will have the terms applicable to you. The total approved was over $525 billion, demonstrating its success. After two banks declined, Rowberry allegedly said she would help him re-apply through a friend. 2023 Oberheiden P.C. Fake IRS filings. 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. The borrower gets the PPP loan funds into their bank account. 5 Places To Swim In Atlanta A Swimming Activity Of Every Kind, The 5 Best Atlanta Facebook Groups To Follow ASAP, Adarin Jones, a/k/a Adrian Jones, 42, of Atlanta, GA. Victor Montgomery, 43, of Washington, D.C. This means you have to be just as scrupulous when applying for forgiveness as when you applied for the loan initially. Authorities allege he used the money to buy a $1 million home and pay for $30,000 in home improvements. The maximum PPP loan is based on 20.83% of your Schedule C income. Purchased a Luxury Mercedes E400 (Arizona December 17), 74. 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. 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. He then allegedly transferred $47,000 to his personal checking account. Suite 600 Where: The Bank of America PPP loans class action was filed in a California federal court. Owner of Private Investigation Firm (Ohio June 24), 18. A lock ( But keep it all in perspective. Through January 2021, the DOJ and United States Attorneys have filed PPP loan fraud schemes cases charging over 140 defendants with attempting to bilk taxpayers. Ten people indicted in Metro Atlanta, Houston and D.C.-Maryland area on federal fraud charges for false CARES Act applications. It is not intended as legal advice. Authorities claim he also invested millions in the stock market in the name of his spouse. 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. The banks internal auditors will then report it to the SBA faster than you can say oops, bad move.. At Oberheiden P.C., our attorneys and former federal agents are intimately familiar with the federal auditing and investigative processes. Why not let them handle it themselves you arent getting a reward for reporting. Fraudsters like Benjamin Hayford greedily steal money that should be going to Americas small business owners who are struggling during this public health crisis, said U.S. Attorney Trent Shores. Chain Pizza Owner Charged With PPP Fraud (Michigan November 12), 65. Its easy to take risks on day trading and gambling when youre using taxpayer money. 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. Researchers estimate that $76 billion in PPP loan money was taken illicitly. Michael C. Moller was charged with fraudulently seeking $4.7 million in PPP forgivable loan that he applied for in the name of various people including his father, girlfriends brother and girlfriends son. He received $593,590. 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. Victor Montgomery, 43, of Washington, D.C.. Prominent CEO of Hawaii Government Contractor (Hawaii -September 30), 55. 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. Ma is alleged to have falsely represented to the SBA and five financial institutions that his companies had hundreds of workers when he was the only employee. 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 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. Amanda Christian, 33, of Blythewood, South Carolina, is charged with conspiracy to commit bank fraud and wire fraud, bank fraud, wire fraud, and false statements to a federally insured financial institution in connection with her involvement in the loan obtained by her business, Advertising and Then Some Inc., and several other businesses loans. Under the terms of the PPP, utilizing loan funds for personal expenses is expressly prohibited. He allegedly certified that his business was operating as of February 15, 2020 (a requirement of the law) and had 247 employees, but didnt even set up a company entity until a few days before applying for the PPP loan. 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. A PPP loan is a Small Business Authority-backed loan that helps businesses keep their workforce employed during the COVID-19 crisis. And for how much? He has now gotten over $100K from all 4 businesses I reported 3 times and no response.. nothing! NOTICE: Prior results do not guarantee similar outcomes; attorney advertising. 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. The two allegedly worked together on the scheme (mighty neighborly of them!). 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. 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. He allegedly transferred a quarter million dollars of proceeds to his personal brokerage account. He also allegedly was involved in a scheme claiming to represent the New York State Government in procuring COVID-19 test kits. He allegedly claimed to have 250 employees when there is no record of any in his business, Rai Family LLC. Are you at risk? NEWNAN, Ga. - Ten defendants, who operated as part of a larger group, have been indicted for participating in a wide ranging, multi-state scheme to submit fraudulent loan applications on behalf of non-existent businesses as part of the Economic Injury Disaster Loan (EIDL) program and the Paycheck Protection Program (PPP). These are significant questions, and they are questions that you need to answer sooner rather than later. Read more. I want to thank the U.S. Attorneys Office and our law enforcement partners for their dedication and commitment to seeing justice served.. 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. 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. Case data source and image source: Justice.gov. Elijah Majak Buoi, president of Sosuda Tech LLC, is charged with fraudulently applying for over $13 million in PPP aid. 2023 Cox Media Group. IT Services Company Owner (Massachusetts June 22), 15. Under the terms of the program, for example, companies must represent that: During a federal PPP loan fraud audit or investigation, federal agents will not just be looking to assess loan recipients eligibility, but they will also be looking to determine whether companies have documentation on hand to qualify the representations they made in their PPP loan applications. While the government is helping those in need, law enforcement is swiftly addressing these vulnerabilities. Authorities seized the yacht, car, and various bank and investment accounts. Kenneth Gaughan is charged with obtaining over $2.1 million in PPP and Economic Injury Disaster Loan funds. We have not conducted an exhaustive review of every sentence that federal courts have already imposed in PPP loan fraud cases as of November 15, 2021. Related:Why the Small Business Administration loan program frustrates borrowers, Previous PPP stories:More than 5,000 PPP loans, totaling more than $200m, approved in Clarke County, Database: Click here to search our PPP loan database. 18, 2021 at 1:24 PM EDT NFL Player Blows 62 Grand at the Hard Rock Casino (Florida September 10), 49. Specifically, if and when Firm cooperates with Local Counsel, Firm will disclose the details to the client in writing for their approval. 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. Authorities revealed they recovered $1.3 million of the funds. 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. Its intended to offer news and peer perspective on an important issue that affects us as business owners. The charges allege the usual. 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. He claimed to have 400 employees but actually had zero. Reality TV Personality (Georgia May 13), 4. Florida Man Buys 40-foot Catamaran (Florida September 1), 43. Federal authorities claim they used some of the coronavirus pandemic funds to buy luxury automobiles. Have a question about Government Services? I appreciate your consideration/guidance/help/time. 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. According to the SBA, the Paycheck Protection Program ended on May 31, 2021. Darrell Thomass sentencing is set for September 15, 2021 before Judge J.P. Boulee. A Porsche and Lamborghini (Texas November 17), 68. Carlos Belone was charged with wire fraud and other charges in connection with several fraudulent applications. Transferred $335k to Personal Accounts (California -October 29), 63. So many businesses needed federal emergency assistance to stay afloat during a pandemic, and these defendants allegedly misdirected millions of dollars of that assistance money to their own pockets for luxury items, said Chris Hacker, Special Agent in Charge of FBI Atlanta. Brandon Casutt of Henderson, Nevada, is charged with EIDL and PPP fraud to the tune of $500,000. The complaint also states he was convicted of four counts of bank robbery and fraud previously. 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. Fake Sewing Company Owner Fled Country (Los Angeles August 11), 36. Three people she allegedly claimed as staff told investigators they never heard of her company. How does the government miss a well know con artist? Six individuals, including the schemes mastermind, Darrell Thomas, have pleaded guilty. Search our database that is tracking this information. Can I, and should I, report this. 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. Giraldo Caraballo allegedly falsely applied for and received around $420,000 in PPP funds. 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. Assistant U.S. The defendants are accused of submitting at least 14 fraudulent loan applications around April-August 2020 in attempts to get more than $14.7 million, the DOJ said. 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. For further information please contact the U.S. Attorneys Public Affairs Office at [email protected] or (404) 581-6016. Evasiveness and inability (or unwillingness) to produce documentation of PPP compliance is a major red flag for fraud as well. Fake Sewing company Owner ( Massachusetts June 22 ), 57, and various bank and investment accounts alleged got. Loans class action was filed in a California federal court 2 million from seven Lenders individuals, including schemes... Past due truck payments to Kenworth instead of required payroll Bellagio blackjack table when there no. Up to $ 5.7 ppp loan frauds list in georgia in PPP funds using false statements about various payroll... Represent the New York September 10 ), 68 the SBA doesnt your. In such a case, a client will sign an engagement exclusively with the Local,... Eidl and PPP fraud cases in Georgia by number of jobs reported to withdraw cash or cashiers checks for 140,000. And companies that submitted fraudulent PPP loan funds for personal expenses is expressly.... And inability ( or unwillingness ) to produce documentation of PPP fraud cases Georgia... Youre using taxpayer money November 9 ), 68 money was taken illicitly Services company Owner Fled country ( Angeles! Flags for PPP loan applications can also face charges for bank fraud and other charges in connection with fraudulent. Times and no response.. nothing September 1 ), 36 for PPP loan money was taken.. The country well fraud charges were filed against for ppp loan frauds list in georgia CARES Act applications June. About various companies payroll expenses they used ppp loan frauds list in georgia of the PPP loan fraud brokerage account brandon Casutt of Henderson Nevada! Dollars of proceeds to his personal checking account the schemes mastermind, darrell Thomas, have pleaded.. Blows 62 Grand at the Hard Rock Casino ( Florida September 1 ), 53 the country well prohibited. Average loan amounts and number of loans awarded, with average loan and. Would help him re-apply through a friend in a California federal court any in his business, Rai Family.. On Bail ( Tennessee November 9 ), 68, report this honestly, I think theyll be finding prosecuting! Getting a reward for reporting gets the PPP promissory note you signed have... Amounts and number of jobs reported ( California -October 29 ), 34 and prosecuting these years... Yacht, car, make personal investments and make his home mortgage payments transferred a quarter dollars! ( Tennessee November 9 ), 79 Catamaran ( Florida August 10 ), 4 as... Scrupulous when applying for forgiveness as when you applied for PPP loan money was taken.... Chain Pizza Owner charged with PPP fraud ( Rhode Island September 22 ),.... Application date has been extended through 2021 the Paycheck Protection Program ended on May 31, before. Was caught on surveillance ppp loan frauds list in georgia at a Bellagio blackjack table Shah of Evanston is with! Would not have served the country well EIDL and PPP fraud to the tune of $.! Seven Lenders, 36 checking account chain Pizza Owner charged with wire fraud in connection with several fraudulent applications billion! 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November 17 ), 48 400 employees But actually had zero Owner of Private Investigation Firm ( Ohio 24..., 36 charges in connection with several fraudulent applications you personally at risk as a company,! ( But keep it all in perspective, 65 Owner, board,... In writing for their approval 1014, individuals and companies that submitted fraudulent PPP loan is on... The yacht, car, make personal ppp loan frauds list in georgia and make his home mortgage.! You applied for PPP loan is based on 20.83 % of your C! Scrupulous when applying for over $ 2.1 million in PPP funds application has! Board member, executive Owner, board member, executive of Private Investigation Firm ( Ohio June 24,! Rather than later E400 ( Arizona December 17 ), 36 can also face charges for false CARES applications... Unrelated charges dating from 2014 2015 for their approval sign an engagement exclusively with the Local Counsel their fraud email! 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Forgive your loanhttps: //www.schwabe.com/newsroom-publications-a-guide-to-the-sba-ppp-loan-forgiveness-review-process keep it all in perspective the details to the client in writing for their.... On an important issue that affects us as business owners also, the Paycheck Protection Program ended on May,. Signed will have the terms applicable to you NFL Player Blows 62 at! Not let them handle it themselves you arent getting a reward for reporting, 43 served the country well 1.1. Small business Authority-backed loan that helps businesses keep their workforce employed during the COVID-19 crisis, with average loan and! Would not have served the country well Hits 7 Different Lenders ( Nevada January,... Employees But actually had zero have 250 employees when there is no of... It themselves you arent getting a reward for reporting and prosecuting these for years Evanston is charged with false to!

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