Dennes Garcia was charged with conspiracy to commit wire fraud, bank fraud, and conspiracy to attempt to commit wire fraud and bank fraud. He was sentenced to 12 months in prison. The case was brought in Miami, Florida. Mr. Mason pleaded guilty on January 4, 2022, and is scheduled to be sentenced on October 12, 2022. The Government alleged that Mr. VanScoyk and Mr. Fiedler conspired to submit fraudulent loan applications seeking almost $3 million in COVID-19 relief funds, of which they received around $1.2 million. Mr. Barosy has pleaded not guilty, and his trial is currently scheduled for September 12, 2022. The case was brought in Atlanta, Georgia. On August 2, 2021, Mr. Gautreaux was sentenced to 70 months in prison. Ms. Wilson was sentenced to 12 months and 1 day in prison on March 23, 2022, and Mr. McLeods was sentenced to 30 months in prison on June 7, 2022. Anuli Okeke was charged with conspiracy to commit wire fraud and bank fraud, wire fraud, bank fraud, and money laundering conspiracy. Princess Terry was charged with wire fraud, making false statements to a bank, and money laundering. PPP data The Government also alleged that Jalloul would charge the clients a 2-20% commission on the loans they received. Joshua Argires was charged in a criminal complaint with making false statements to a financial institution, wire fraud, bank fraud, and money laundering. The case was brought in Beaumont, Texas. Ms. Bain pled guilty and was sentenced to 24 months in prison on December 9, 202. The Government alleged that Mr. Licata, owner of Boca Toxicology LLC, bundled COVID-19 tests with more expensive and unnecessary testing. For the California case Mr. Sadleir pleaded guilty on March 16, 2022 and his sentencing date is scheduled for September 28, 2022. The Government alleged Mr. Stewart submitted fraudulent loan application through The Infinity Group of SC, LLC to obtain approximately $300,000.00 in COVID-19 relief funds. The case was brought in Miami, Florida. Congress enacted law that prohibits PPP loans to "certain entities organized under the laws of the People's Republic of . The case was brought in Atlanta, Georgia. This case was brought in Greenville, South Carolina. Mr. Licata pleaded guilty to one count of conspiracy to commit health care fraud on January 13, 2022. On May 14, 2021, Mr. Clark pleaded guilty to one count of conspiracy to commit wire fraud. Izzat Freitekh and Tarik Freitekh were charged with conspiracy to commit wire fraud, bank fraud scheme, money laundering, and other related charges. Scott Davis was charged with wire fraud and engaging in a monetary transaction with criminally derived property. Mr. Shah has pleaded not guilty. He is scheduled to be sentenced on August 15, 2022. Soto pleaded guilty on February 24, 2022, and is scheduled to be sentenced on August 3, 2022. Tonye Johnson was charged with conspiracy to commit wire fraud and bank fraud, wire fraud, and bank fraud. The case was brought in Miami, Florida. Don Cisternino was extradited from Croatia to face wire fraud, identity fraud, and illegal monetary transaction charges. The Government alleged that Darakhshan conspired with other individuals to file fraudulent loan applications and obtained over $1.3 million in COVID-19 relief funds. The Government alleged that Mr. Bellamy, a former NFL player, worked with several others to submit fraudulent loan applications seeking more than $24 million in COVID-19 relief funds, and that Mr. Bellamy obtained $1.2 million as a result. The Government alleged Zhang through Cloud Optimization, LLC submitted fraudulent loan applications obtaining approximately 41,525,000.00 in COVID-19 relief funds. IRS Criminal Investigation (CI) pledges continued commitment to Which Federal Agencies Investigate PPP Loan Fraud? Hackstadt pleaded guilty on May 19, 2022, and is scheduled to be sentenced on October 6, 2022. Shashank Shekhar Rai was charged with wire fraud, bank fraud, false statements to a financial institution, and false statements to small business administration. On November 2, 2021, Charles Petty pleaded guilty to conspiracy to commit wire fraud, and his sentencing is scheduled for February 23, 2022. The case was brought in Atlanta, Georgia. Mr. Buoi was found guilty of all charges on February 24, 2022. | Frequently Asked Questions , by Moiz Syed and Derek Willis, July 7, 2020. All rights reserved. According to analysis by Bloomberg, while FinTechs processed just 15 percent of PPP loans overall, they are associated with 75 percent of the approved PPP loans that the Department of Justice 3(DOJ) connected with fraud. The case was brought in Wilmington, Delaware. They have not yet been sentenced. The City of West Haven received over $1.15 million in COVID-19 relief funds. The case was brought in Providence, Rhode Island. Mr. Mills pleaded guilty to the charge on September 20, 2021. On May 17, 2021, Mr. Staveley pleaded guilty to conspiracy to commit bank fraud and failure to appear in court. The Government has dismissed the complaint against Mr. Olugbuyi without prejudice, meaning they may still indict him in the future. The case was brought in Tulsa, Oklahoma. The case was brought in Detroit, Michigan. The case was brought in Atlanta, Georgia. The Government alleges that the defendants engaged in a scheme where they obtained other peoples personal identifying information to apply for COVID-19 relief loans, which they obtained for people in exchange for kickbacks. The Government alleged that Mr. Pan submitted fraudulent loan applications seeking over $6 million in COVID-19 relief funds. Federal prosecutors and criminal investigators from various federal agencies are actively looking for possible PPP loan fraud, EIDL loan fraud, and other CARES Act violations in an attempt to recover money that may have been fraudulently obtained from COVID-19 relief programs. Chandra Norton was charged with one count of conspiracy to commit fraud. The Government alleged that Mr. Ridge submitted fraudulent loan applications seeking almost $500,000 in COVID-19 relief loans, of which he obtained $160,000. Danielle Miller was charged with three counts of wire fraud and two counts of aggravated identity theft. Northern District of Georgia | Twenty-two defendants charged in Paul and Michelle Kwak were charged with conspiracy to commit wire fraud, wire fraud, and money laundering. Phillip Augustin was charged with wire fraud, bank fraud, attempt and conspiracy to commit wire fraud and bank fraud and obstruction of justice. Kevin Mancieri was charged with conspiracy to commit bank fraud. On October 25, 2021, he was sentenced to 72 months in prison. PPP loan fraud investigations are on the rise across the country. The Government alleged that Mr. The Government alleged that Ms. Lawson and Ms. Quarterman submitted fraudulent loan applications on behalf of the other defendants seeking over $700,000 in COVID-19 relief funds. This case was brought in Baton Rouge, Louisiana. The Government alleged that Mr. Hsu submitted fraudulent loan applications seeking $1.1 million in COVID-19 relief funds. Diamond Blue Smith was charged with conspiracy to commit and offense against the United State, i.e., wire fraud. Mr. Henley pleaded guilty to one count of bank fraud. The Government alleged that Smith submitted fraudulent loan applications seeking over $212,000 in COVID-19 relief funds. On June 7, 2021, Manuk Grigoryan pleaded guilty to bank fraud and aggravated identity theft. The case was brought in Detroit, Michigan. Tiyari Collins and Farah Collins were each charged by separate information with one count of conspiracy to defraud the United States, and Mr. Tiyari was also charged with one count of fraud and false statements based on his filing of fraudulent tax returns. The Government alleged that Mr. Tolliver submitted fraudulent loan applications seeking $7.6 million in COVID-19 relief funds, of which he obtained over $1.1 million. The case is currently pending. Mr. Bischoff pleaded guilty on November 23, 2020. Damion McKenzie and Keyaira Bostic were charged with conspiracy to commit wire fraud and bank fraud, wire fraud, and bank fraud. Andrew Tezna was charged with one count of bank fraud. Marvin Fitzgerald was charged with false statements. Baoke Zhang was charged with wire fraud. The Government alleged that Ms. Shearod, along with 21 other individuals, conspired to submit fraudulent loan applications seeking over $3.8 million in COVID-19 relief funds. Mr. Gautreaux pleaded guilty to one count of making false statements to a financial institution. WTSD (AM) - Wikipedia He was sentenced to 51 months in prison on June 7, 2022. On March 25, 2022, Mr. Benlevi was found guilty on all counts at trial. Moon pleaded guilty. Christina McConnell was charged with two counts of illegal monetary transactions. On June 9, 2021, Mr. Bellamy pleaded guilty to one count of conspiracy to commit wire fraud. The Government alleged that Mr. Olugbuyi submitted fraudulent loan applications seeking $400,000 in COVID-19 relief funds. The case was brought in San Francisco, California. On June 22, 2021, Mr. Hamilton was sentenced to 6 months in prison. Mr. Bernardo pleaded guilty on June 14, 2022, and his sentencing date is to be determined. Anthony Boncimino was charged with four counts of bank fraud, four counts of money laundering, and six counts of making false statements. Latoya Stanley and her partner, Johnny Philus were both charged with conspiracy to commit wire fraud. On May 19, 2021, Mr. Shah pleaded guilty to one count of wire fraud. The Government alleged Mr. Clark participated in a conspiracy with others that involved submitting fraudulent loan applications seeking a total of $24 million in COVID-19 relief funds. The Government alleged that Mr. Johnson through his company Million Man LLC submitted fraudulent loan application to obtain over $2.6 million in COVID-19 relief funds. The case was brought in Brooklyn, New York. On June 23, 2020, he was charged with wire fraud and aggravated identity theft in the Southern District of New York. The Government alleged that Mr. Cotton submitted fraudulent loan applications seeking over $312,000 in COVID-19 relief funds. 94% of the total 2020 PPP loan value has been forgiven, in full or in part. On June 2, 2021, Ms. Stanley was sentenced to 18 months in prison. The Government alleged that Mr. Shah submitted fraudulent loan applications seeking more than $3 million in COVID-19 relief funds. The Government alleged that Nicoloff submitted fraudulent loan applications seeking over $1.5 million in COVID-19 relief funds. The Government alleged that the defendants submitted fraudulent tax documents to seek over $100,000 in COVID-19 relief funds. Mr. Williams pleaded guilty on October 13, 2020, and his sentencing has not been scheduled. Mr. George also faces separate charges involving tax fraud. Ms. Terry was sentenced to 65 months in the prior healthcare fraud scheme. All rights reserved. On May 23, 2022 Mr. Duffield and Mr. Latourneau were sentenced to time served. The Government alleged that Chung submitted fraudulent loan applications in the name of Jang & Kim, Inc., Jones Loop Marathon, Inc., SJB Auto Parts Wholesale, Inc., Smile Cool tools HVAC, Inc, Berkeley import, LLC, H Caf, Inc., One Dream, Inc. KO Wholesale, Inc., Shannon Chao, Inc., Alpha Construction & Management, Inc., JKK Artworkible, Inc., North Atlanta Construction & Enterprise, Inc., Jiwoos Beauty lounge, MJ Boom entertainment, AJM Remodeling, Inc., and HJJ Investment, Inc. to obtain COVID-19 relief funds. The Government alleged that DiMassa, a Connecticut State Representative, conspired with the other defendants to submit fraudulent invoices for services that were never provided by the City of West Haven. On August 9, 2021, Mr. Cartlidge pleaded guilty to one count of attempt and conspiracy to commit fraud. The Government alleged that the defendants submitted fraudulent loan applications seeking $7.6 million in COVID-19 relief funds. It is also alleged that Santana used the funds to purchase vehicles and invest in cryptocurrency. The Government alleged that Mr. Kindambu submitted fraudulent loan applications and obtained over $2.5 million in COVID-19 relief funds. The case was brought in West Palm Beach, Florida. The case was brought in Atlanta, Georgia. On December 8, 2021, he was sentenced to 24 months in prison. The case was brought in Orlando, Florida. Jerrica Rosado was charged with conspiracy to defraud the United States. The Government alleged that Ms. Jackson submitted fraudulent loan applications seeking $2.5 million in COVID-19 relief funds. Darius McCants was charged with attempt and conspiracy and multiple counts of wire fraud. Mr. Santemores pleaded guilty on April 27, 2022, and was sentenced on July 25, 2022 but the terms of his sentence are under seal. On September 23, 2021, Mr. Henley was sentenced to 6 months in prison. Mr. Casutt pleaded not guilty and is scheduled for trial on October 17, 2022. Mr. Rai pleaded guilty to one count of false statements to a financial institution on February 9, 2021. The Government alleged that Mr. Etwaru submitted fraudulent loan applications to obtain approximately $57,750.00 in COVID-19 relief funds. PPP loans and fraud - the red flags that could have been spotted Amanda DuPont September 09, 2021 6 min Approximately $800 billion went out in the CARES Act's Paycheck Protection Program (PPP), providing nearly 12 million loans between April 2020 and May 2021 to U.S. businesses. Jabari Ogbonna Edwards and Antwann Richardson were charged with attempt and conspiracy to commit mail fraud, fraud by wire, radio or television, statements or entries generally and money laundering. This case was brought in Aberdeen, Mississippi. The case is brought in Atlanta, Georgia. Largest PPP Loan Recipients List Nationwide A total of 108,968 businesses across the United States have received Coronavirus-related Paycheck Protection Loans (PPP) loans from the Small Business Administration of the MAXIMUM available amount of $10,000,000 (ten million dollars). Together, more than 5.5 million PPP loans were approved totaling more than $557.8 billion. The case was brought in Raleigh, North Carolina. Robert Benlevi was charged with bank fraud, making false statements to a financial institution, and money laundering. Dinesh Sah was charged with several counts of wire fraud, bank fraud, and money laundering. PPP Loans List :: PPP Detective Mr. Smith pleaded guilty to one count of bank fraud. Deon Petty was charged with one count to defraud the United States. This case was brought in New Orleans, Louisiana. The Government alleged that the defendants conspired together to submit fraudulent loan applications and obtained over $7 million in COVID-19 relief funds. The Government also alleged that Ms. Miller submitted fraudulent requests for unemployment benefits. The Government filed a criminal complaint on October 11, 2021. Mr. Oudomsine was charged by an information on October 19, 2021, and he pleaded guilty to one count of wire fraud on October 28, 2021. SBA Office of Inspector General (SBA-OIG) The SBA Office of Inspector General (SBA-OIG) is the integrity and accountability arm of the SBA. On November 1, 2021, he pleaded guilty to an information and was sentenced to 24 months on February 2, 2022. On December 9, 2020, Mr. Suber pleaded guilty to an information. The Government alleged that Mr. Hayford submitted fraudulent loan applications seeking $8 million in COVID-19 relief funds. Izzat and Tarik were found guilty at trial on March 17, 2022. The Government alleged that Ms. Okeke, a former bank employee, conspired with another employee to fraudulently obtain over $3 million in COVID-19 relief funds by helping borrowers fill out false loan applications. The Government alleged that Mr. Augustin submitted fraudulent loan applications for his company Clear Vision Music Group LLC obtaining more than $24 million dollars in COVID-19 relief funds. On September 15, 2021, Mr. Fayne was sentenced to 210 months in prison. Jean Rabbitt and Kevin Aguilar were charged with bank fraud and conspiracy to engage in monetary transaction charges. . Call us or complete the form below. Mr. Mancieri has a change of hearing plea scheduled for August 15, 2022. The Government alleged that Mr. Casutt submitted fraudulent loan applications and obtained $500,000 in COVID-19 relief funds. On March 21, 2022, he was sentenced to 188 months in prison, and he filed a notice of appeal on March 29, 2022. The case was brought in Milwaukee, Wisconsin. The case was brought in Providence, Rhode Island. Lauren Duhart, Joshua Smith, Steve Lewis, Christopher Agard, Henry Duffield, Jeremy Latourneau and Derick Keane were charged with attempt and conspiracy to commit mail fraud, and money laundering. On November 2, 2021, she was sentenced to 78 months in prison. Banks will likely be targeted in the coming months for their roles with the Paycheck Protection Program and other lending during the pandemic. On November 11, 2021, Mr. Montgomery pleaded guilty, but the terms of his plea are under seal, and he is scheduled for sentencing on September 29, 2022. Her sentencing is scheduled for January 12, 2022. The case was brought in Miami, Florida. This case was brought in Milwaukee, Wisconsin. The Government alleged that Mr. McKenzie and Ms. Bostic participated in a conspiracy with others that involved submitting fraudulent loan applications seeking a total of $24 million in COVID-19 relief funds. Ms. Falgoust pleaded guilty to an information on July 22, 2021. The case was brought in Atlanta, Georgia. The case was brought in Columbus, Georgia. The case was brought in Sherman, Texas. Mr. Kanyike has pleaded guilty. The Government alleged that Mr. Kao, a former Government Contractor, submitted fraudulent loan applications seeking approximately $10 million in COVID-19 relief funds. The Government alleged that Mr. Defrees submitted multiple loan applications at two different banks seeking $1.7 million in COVID-19 relief funds. The Government alleged that Mr. Foster submitted fraudulent loan applications through Bellator Phront Group Inc., Impact Creations LLC, Gaines Reservation and travel, Transportation Management Service Inc., Lee Operations LLC, RK Painting Co., D Parker Holdings Inc., Continuing Success Inc., All Star Room & Board Services of Michigan Inc., Infinite Education Services Inc., ML Exotic Customs Inc., Bellevie Corp, Advertising and Then Some Inc., and Mickies Auto and Tires LLC obtained approximately $11.1 million in COVID-19 relief funds. On March 2, 2022, Ms. Martins pleaded guilty to the charges and is scheduled to be sentenced on August 4, 2022. The Government alleged that Mr. Thompson recruited the other defendants to submit fraudulent loan applications on behalf of each of their companies, seeking approximately $3 million total in COVID-19 relief funds. Both defendants were sentenced to 21 months in prison in June 2022. Data last refreshed on 1/31/2022. Because PPP lending is closed to new applications, SBA's challenge is to effectively handle potentially fraudulent PPP loans to reduce the risk of financial loss and ensure only eligible borrowers receive forgiveness in accordance with program requirements. Rahul Shah was charged with bank fraud, making false statements on a loan application, and identity fraud. Peter Peacock Blood was charged with two counts of making false statements on a loan application. The case was brought in Washington, D.C. The data shown has been made available to the public by the SBA. Ms. Williams was sentenced to time served with 6 months home confinement on May 25, 2022. The case was brought in Los Angeles, California. The case was brought in Brooklyn, New York. IR-2021-65, March 25, 2021 The Internal Revenue Service's Criminal Investigation Division (IRS-CI) marks the one-year anniversary of the Coronavirus Aid, . prevent identity theft and provide assistance to victims of Unemployment Insurance and PPP loan fraud. The Government alleged that Hackstadt submitted fraudulent loan applications and obtained over $250,000 in COVID-19 relief funds. Mr. Brown was sentenced to time served on April 26, 2022. The case was brought in Ft. Lauderdale, Florida. She is scheduled to be sentenced on December 6, 2021. All the other defendants have pleaded not guilty, and their cases are pending. The Government alleged that Mr. Brown filed fraudulent loan applications seeking over $60,000 in COVID-19 relief funds. She was sentenced to 12 months and 1 day. Mr. Knight has pleaded guilty on March 25, 2022, and his sentencing date is to be determined. Brandon Lewis was charged with two counts of wire fraud and one count of making false statements. The case was brought in Newark, New Jersey. This case was brought in Greenville, South Carolina. Adam Arena was charged with attempt and conspiracy to a commit mail fraud and engaging in monetary transactions. The case was brought in Newark, New Jersey. The Government alleged that Mr. Gaughan submitted fraudulent loan applications seeking approximately $2.1 million in COVID-19 relief funds. Jae Choi was charged with several counts of bank fraud, making a false statement on a loan application, money laundering, and aggravated identity theft, The Government alleged that Mr. Choi submitted fraudulent loan applications and obtained approximately $9 million in COVID-19 relief funds. Chanchikyan has pleaded not guilty, and his trial is scheduled for October 4, 2022. Mr. Smith pleaded guilty to one count of bank fraud. The Government alleged that Mr. Mohan submitted fraudulent loan applications seeking over $5.5 million in COVID-19 relief funds. On February 14, 2022, Mr. Cartlidge was sentenced to 72 months in prison, Mr. Redfern was sentenced to 60 months in prison, and Mr. McMiller was sentenced to 66 months in prison. Her trial is scheduled for July 28, 2022. A Florida man was sentenced today to 33 months in prison for fraudulently seeking over $7,263,564 in Paycheck Protection Program (PPP) loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The case was brought in Providence, Rhode Island. Vinicius Santana was charged with one count of wire fraud. On March 9, 2022, he was sentenced to 36 months in prison. This case was brought in Boston, Massachusetts. This case was brought in Albany, New York. On June 16, 2021, Darrell Thomas pleaded guilty to one count of conspiracy to commit bank and wire fraud and one count of money laundering, and he also admitted to additional fraud as part of his plea deal, including obtaining fraudulent automobile loans. Artur Chanchikyan was charged with wire fraud, theft of government property and concealment money laundering. Jase Gautreaux was charged with making false statements to a financial institution, bank fraud, wire fraud, and money laundering. The case was brought in San Diego, California. The Government alleged that Mr. Kanyike submitted several fraudulent loan applications seeking over $1.8 million in COVID-19 relief funds, of which he received $1.3 million. The case was brought in Los Angeles, California. The case was brought in Newark, New Jersey. The Government alleged that Mr. Rivero, a tax preparer, submitted fraudulent loan applications seeking to obtain over 100 loans for $2.3 million in COVID-19 relief funds. Mark Stewart was charged with conspiracy to defraud the United States. On November 9, 2021, Mr. Reuth pleaded guilty to one count of conspiracy to commit wire fraud, and he is scheduled for sentencing on December 12, 2022. Arena pleaded guilty and was sentenced to 60 months in prison on June 8, 2022. Denesseria Slaton was charged separately and has pleaded guilty to one count of conspiracy to commit fraud. The case was brought in Las Vega, Nevada. On November 15, 2021, he was sentenced to 51 months in prison. The Government alleged that Mr. Santemore, an Amtrak employee, submitted fraudulent loan applications seeking over $89,000 in COVID-19 relief funds. Attorneys, including the Fraud Section, have resulted in a variety of charges, including wire fraud (18 U.S.C. The Government alleged Mr. Johnson participated in a conspiracy with others that involved submitting fraudulent loan applications seeking a total of $24 million in COVID-19 relief funds. Petty submitted fraudulent loan applications seeking $155,000 in COVID-19 relief funds. The Government alleged that Mr. Moller submitted several fraudulent loan applications seeking over $4.7 million in COVID-19 relief funds. "The two operating components of the [SBA-OIG] are the Auditing Division and the Investigations Division. Stephen Smith was charged with two counts each of bank fraud and money laundering. Ava Misseldine was charged with passport fraud, social security number fraud, aggravated identity theft and fraud in connection with major disaster or emergency benefits. Mr. Smith pleaded guilty on July 8, 2022, and his sentencing hearing is scheduled for October 21, 2022. What Is PPP Loan Fraud? How Scammers Stole $100+ Billion The Government also alleged that after Rabbitts businesses received the loans, Aguilar created fake payroll companies and accepted checks from Rabbitts businesses indicating that they were for payroll purposes. The Government alleged that Mr. Fitzgerald-Holley submitted fraudulent loan applications and obtained approximately $305,854.00 in COVID-19 relief funds. Mr. Augustin pleaded guilty was sentenced to 78 months in prison on May 6, 2022. Mr. Charno and Ms. Williams both pleaded guilty on January 13, 2022. 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. The Government alleged that Santana submitted a fraudulent loan application to obtain $2.5 million in COVID-19 relief funds. Robert Stewart was charged with wire fraud, theft of government funds, and making false statements. The Government alleged that the two businessmen submitted fraudulent loan applications seeking over $500,000. The case was brought in Buffalo, New York. The Government alleged that Mr. Dorceus owner of Elevate Horizons submitted fraudulent loan applications obtaining approximately $300,000 I COVI-19 relief funds. The Government alleged that Mr. Brenizer submitted fraudulent loan applications and obtained $841, 000 in COVID-19 relief funds. The Government alleged that Mr. Frazier submitted fraudulent loan applications seeking $6.9 million in COVID-19 relief funds, of which he received approximately $2.2 million. The case was brought in Providence, Rhode Island. Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are . The case was brought in Fort Myers, Florida. The case was brought in Los Angeles. The case was brought in Alexandria, Virginia. The case was brought in Harrisburg, Pennsylvania. The defendants have pleaded not guilty, and the case is pending. Select Subcommittee Launches Investigation into Role of FinTech The case was brought in Cleveland, Ohio. Stacy Santemore, Sr. was charged with false statements and theft of government funds. Bluevine, one of the fintechs in this group, processed over $4.5 billion in PPP loans for at least 155,000 businesses, a letter from its CEO says. William Sadleir was charged in two caseshe was charged with wire fraud, making false statements to a bank, bank fraud, and money laundering in the Central District of California on July 17, 2020. His sentencing is scheduled for December 15, 2021. The case was brought in Newark, New Jersey and it is currently pending. They also alleged that he submitted fraudulent loan applications seeking over $6.9 million in COVID-19 relief funds. Mr. Hosey pleaded guilty, and his sentencing date is to be determined. The Government alleged that Ms. Norton submitted fraudulent loan applications seeking over $7.7 million in COVID-19 relief funds.
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