Help us crowdsource fraud detection in the PPP program! 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. Brandon Casutt of Henderson, Nevada, is charged with EIDL and PPP fraud to the tune of $500,000. Have we seen the last of Paycheck Protection Program PPP loan fraud prosecutions? Days later he allegedly bought a 2020 Lamborghini Huracan sports car for $318,000. 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. Still, a June 2020 report by the Government Accountability Office found, there is a significant risk that some fraudulent or inflated applications were approved. Treasury Secretary Steven Mnuchin then announced that the Treasury Department would review loan recipients over $2 million. The COVID-19 pandemic has caused financial hardships for many hardworking business owners across the nation. 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. Elijah Majak Buoi, president of Sosuda Tech LLC, is charged with fraudulently applying for over $13 million in PPP aid. The SBA programs are complex and it is easy to trip up innocently. She deposited the proceeds into four bank accounts, but that didnt hide it from authorities who seized her ill-gotten gains. See how PPP works. 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. To this end, all companies that received PPP loans would be well-advised to proactively conduct an internal PPP compliance investigation. The allegations claim he submitted a tax return reporting $175,565 income for tax year 2019. Kyle William Brenizer of St. Paul is charged with wire fraud and money laundering. The complaint alleges George provided false and misleading documents and apparently couldnt keep his fake employees straight. 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. Man Sends Money to Pakistan and Books Flight (New Jersey December 15), 72. The defendants allegedly participated in an extensive nationwide scheme in exchange for illegal kickbacks of portions of the loan proceeds, said Acting Assistant Attorney General Brian C. Rabbitt of the Justice Departments Criminal Division in a statement. Its intended to offer news and peer perspective on an important issue that affects us as business owners. He allegedly received $17.3 million and spent the money on a Bentley convertible as well as sending millions of dollars abroad. Rahul Shah of Evanston is charged with bank fraud and making false statements to a financial institution. Our searchable database allows users to look up dollar allotments by industry, and lenders. He was approved for $3.9 million. Married Couple Attempting to Flee (Virginia June 24), 17. 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 is charged with false statements to a financial institution, bank fraud and engaging in unlawful monetary transactions. Former Senior Trial Attorney U.S. Department of Justice, Former U.S. Attorney & Former District Attorney. The Small Business Administration has released a list of businesses that have received emergency pandemic loans. Authorities allege they falsely claimed to be farmers in the yards of their small homes. Manhattan Businessman (New York May 21), 6. You can search and filter the list, but only flagged loans will be shown. Case data source and image source: Justice.gov. The total approved was over $525 billion, demonstrating its success. They are applying for a PPP loan because, the uncertainty of current economic conditions makes necessary the loan request to support the ongoing operations of the eligible recipient; and. Depending on the charges, penalties could include up to $1 million in fines and up to 30 years in prison, legal experts say. He then went on a buying extravaganza, spending on a Tesla, a Bentley, two condominiums, and paying his home mortgage. Check with your attorney and/or accountant with questions. The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. Share sensitive information only on official, secure websites. A Swimming Pool and Money Abroad (Minnesota November 16), 67. With that kind of speed, no program could be perfect. A .gov website belongs to an official government organization in the United States. Secure .gov websites use HTTPS 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. Lastly, along with all of the red flags for PPP loan fraud discussed above, there are various other issues that can tip off federal authorities during audits and investigations as well. Due to a high volume of calls, we are unable to take on more PPP clients at this time. Authorities say he put the PPP loan proceeds in accounts under the control of his relatives and minor children. 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. He also allegedly submitted forged tax documents. Andre Gainess sentencing is set for October 6, 2021 before Judge J.P. Boulee. A .gov website belongs to an official government organization in the United States. I did too!! The case was brought in Los Angeles, California. Sadleir was Executive Producer on films like, Baoke Zhang, a software engineer at ride share company Lyft, is charged with wire and bank fraud. They allegedly spent some money on personal expenses like vehicles and home improvements. Its a scary thing for legitimate business owners to sign borrower certifications under potential penalties of fines and prison time. 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. Former Police Officer Sentenced For Money Laundering. After two banks declined, Rowberry allegedly said she would help him re-apply through a friend. They allegedly filed fake tax documents to support the loan applications. Where: The Bank of America PPP loans class action was filed in a California federal court. But it may not take that long. After receiving the loans, he bought a $480,000 , spent $50,000 to $200,000 on a lost gambling bet, bought a brand new speedboat worth about $150,000, he also bought Martina D****la a $900 pair of shoes for her 23rd birthday. She allegedly claimed to have 73 employees at her Dayton private investigation company. The only way to get more money than that is to either 1) claim to have employees that you didn't really have, or 2) inflate your earnings amount on the application. A second PPP2 program was authorized by Congress for $275 billion. [SIGN UP: WSB-TV Daily Headlines Newsletter]. 2023 Cox Media Group. Two Men, Identity Theft and a Conspiracy (Rhode Island May 5, 2020), 3. 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. Richard Ayvazyan, Marietta Terabelian, Artur Ayvazyan, Tamara Dadyan were charged in a complaint claiming they conspired together as part of a disaster relief loan fraud ring based in Los Angeles. Many cases involve forged IRS filings one of the easiest things for the government to check. All visitors to this Website are informed that Oberheiden P.C. Las Vegas Man Hits 7 Different Lenders (Nevada January 28, 2021), 79. A Cessna Aircraft and a Lexus (Virginia October 20), 59. Man Uses Aliases to Seek $22 Million (California October 2), 56. Gaughan is also charged separately with allegedly embezzling $472,000 from the Catholic Archdiocese of Washington, D.C. where he previously worked. In reality, however, none of the businesses had employees or payroll expenses. The complaint also states he was convicted of four counts of bank robbery and fraud previously. Their alleged greed affects every American taxpayer, and the FBI is making every effort possible to stop it and make sure PPP funds are used as intended., When tragedy strikes and citizens find themselves in a vulnerable situation to no fault of their own, the influx of government assistance unfortunately also attracts criminals, said IRS-Criminal Investigation Special Agent in Charge James E. Dorsey. Sign up for free Patch newsletters and alerts. 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. The maximum that one person can get for a PPP loan is $20,833. The defendants allegedly took advantage of emergency financial assistance intended for business owners suffering the economic effects caused by the COVID-19 pandemic, said Acting U.S. Attorney Kurt R. Erskine. 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. On March 16, 2020, Attorney General William Barr directed all 94 U.S. Attorneys Offices to prioritize investigating and prosecuting PPP loan cases of fraud. 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. Man Flashes $100 Bills in Rap Video (New York September 10), 48. 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. 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. Made Down Payments on Million Dollar Homes (California November 18), 69. If there is evidence of fraud, people can go to jail for a $20,000 PPP loan, just like someone whose PPP loan was $100,000 or $1 million. Kenneth Gaughan is charged with obtaining over $2.1 million in PPP and Economic Injury Disaster Loan funds. 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. Although the amount of the loans, $9,400 and $20,800, are not as large as some on the list, United States government agencies are not giving them any slack. 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. Attorneys office, the companies didnt exist or didnt have the employees he claimed. He was arrested after he booked a same-day flight to Pakistan. . Two-Man Fraud Ring for PPP Loans (Oklahoma December 18), 76. 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. The Feds managed to freeze most of the cash but not before the couple allegedly withdrew $30,000 in cash. On Jan. 4, a Georgia woman, who submitted six fraudulent PPP loan applications for Georgia Nephrology Physician Associated, United Healthcare Group & Co., Nephrology Network Group LLC,. I appreciate your consideration/guidance/help/time. The complaint alleges he ultimately received a loan for over $1 million. 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. Following a nine-day trial, Ahamefule Aso Odus has been convicted by a federal jury on 12 counts of money laundering stemming from his role in a massive money laundering operation Northern District of Georgia 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. Last Updated: 2023-02-05 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. Its going to raise a red flag. Louis was awaiting trial on unrelated charges dating from 2014 2015. The Department suggests that "criminal rings" are orchestrating this fraud, without providing any real details. - Federal Lawyer We Will Protect Your Rights, Reputation and Freedom. All rights reserved. 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. If you got funding after June 5, you have five years to repay. PPP Loan Recipient List By State Georgia 553,322 TOTAL PPP LOANS $24.9B TOTAL LOAN AMOUNT $44,956 AVERAGE PPP LOAN 5 AVG COMPANY SIZE Georgia has a total of 553,322 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration. To request removal of your name from an arrest report, submit these required items to arrestreports@patch.com. 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. Nor, will we seek out applicants who made technical mistakes in processing paperwork or honestly misunderstood regulatory or certification requirements. At the time of his arrest Hayford was a Project Manager for Walmart. He allegedly created fake technology companies to obtain $1.5 million in funds. 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. Attorney Buys Million Dollar Home (New Jersey September 2), 45. A PPP loan is a Small Business Authority-backed loan that helps businesses keep their workforce employed during the COVID-19 crisis. Our searchable databaseallows users to look up dollar allotments by industry, and lenders. Can I, and should I, report this. These purposes include the payment of payroll and related expenses, the payment of insurance premiums, the payment of rent and mortgage interest under pre-existing obligations, and the payment of business utility bills. Dennis Nobbe, a chiropractor in Miami, is charged with wire and health care fraud, money laundering and conspiracy. Specifically, if and when Firm cooperates with Local Counsel, Firm will disclose the details to the client in writing for their approval. Which goes to show that most of the defendants arent very smart. James McFarland, 56, of Atlanta, Georgia. Ugarte allegedly used it for past due truck payments to Kenworth instead of required payroll. He also allegedly squandered cash at luxury retailers and Miami resorts. Teldrin Foster, 39, of Decatur, Georgia, is charged with conspiracy to commit wire fraud in connection with the loan obtained by Bellator Phront Group Inc. Denesseria Slaton, 52, of Stockbridge, Georgia, is charged with conspiracy to commit bank fraud and wire fraud in connection with the loan obtained by Transportation Management Services Inc. Charmaine Redding, 27, of Macomb, Michigan, is charged with conspiracy to commit wire fraud in connection with the loan obtained by her business, All Star Room and Board Services of Michigan Inc. Another defendant, Carla Jackson, 53, of Tucker, Georgia, was previously charged by indictment on August 4, 2020 with money laundering in connection with laundering the proceeds of Gaines Reservation and Travels PPP loan. However, the Government watchdog also recommended oversight of the 4 million smaller loans. 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. Five Charged in Connection With PPP Loans Scheme (Wisconsin/Illinois October 22), 60. Lola Shalewa Barbara Kasali, 22, of Houston was charged with several counts in which she allegedly received more than $1.9 million for two companies, including Charm Hair Extensions. (PPP) and Economic Injury Disaster Loan (EIDL) COVID-19 relief funds. Atlanta, GA 30303-3309. (Shutterstock) ATLANTA Federal fraud charges were filed against. bank fraud, making false statements to an FDIC-insured financial institution, or making false statements to the SBA). Jae H. Choi, a licensed attorney in New Jersey, was charged with getting $9 million in PPP funds from three different lenders, based on fabricated employees and forged documents. Subsequently, upon receiving PPP loans (or, ideally, in anticipation of receiving a PPP loan), companies should adopt policies and procedures that are designed to ensure continual PPP compliance. He allegedly used aliases to obtain $8.5 million in aid using fake tax filings and falsified records of payroll costs. 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 defendants are charged with various counts of conspiracy to commit wire fraud, wire fraud, bank fraud, mail fraud, and money laundering. 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. 75 Ted Turner Dr. SW Austin Hsu of Issaquah, WA was charged with wire fraud in connection with fraudulently seeking over $1.1 million. Reality TV Personality (Georgia May 13), 4. Charged were: Darrell Thomas, Andre Lee Gaines and Carla Jackson of Georgia; Kahlil Gibran Green Sr. of Ohio; and Bern Benoit of California. 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. U.S. Attorney Brian T. Moran said in a statement, I am pleased that the systems designed to detect and deny fraudulent payments caught his scheme before federal funds went out the door.. The PPP allows the interest and principal on the PPP loan to be entirely forgiven if the business spends the loan proceeds on these expense items within a designated period of time and uses a certain percentage of the PPP loan proceeds for payroll expenses. Members of the public are reminded that the indictment only contains charges. 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.. Darrell Thomass sentencing is set for September 15, 2021 before Judge J.P. Boulee. The criminal complaint goes on to say Caraballo also received $55,000 in Economic Injury Disaster Loan (EIDL) relief. So far, six. You can also check to see how many workers companies receiving the assistance said they kept on the payroll. 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. Tristan Bishop Pan was charged for allegedly seeking $6 million in Paycheck Protection Program loan. "Small Business Trends" is a registered trademark. Following a nine-day trial, Ahamefule Aso Odus has been convicted by a federal jury on 12 counts of money laundering stemming from his role in a massive money laundering operation Northern District of Georgia 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. Sandra D. Smith has been arraigned on federal charges of wire fraud and theft of government funds. Game of Thrones Inspired These Fake Company Names (North Carolina September 29), 54. The allegations say he submitted fake IRS documentation. Read more. 1343) and making false statements to the SBA and FDIC-insured banks (18 U.S.C. Applied for PPP Loan While out on Bail (Tennessee November 9), 64. 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. So far, six people, including the schemes mastermind, Darrell Thomas, have pleaded guilty. 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. Ophthalmologist Already Under Indictment (New York June 24), 19. According to the SBA, the Paycheck Protection Program ended on May 31, 2021. Check Out These 30 eCommerce Web Design Ideas, Stop Worrying About Mobile Ad Fraud Thanks to This New Tool, Shutterstock Revenue for 2015 Sees 30 Percent Increase, Pairing People with Platforms for Better CX, How to Protect Your Small Business from the Latest Scam -- A More Elaborate 419 Fraud, See the SBA website for updated forgiveness information, David Staveley, aka Kurt D. Sanborn, and David Butziger were charged with conspiring to seek over $530,000 in PPP money. Jesika Blakely, 34, of Atlanta, Georgia, is charged with conspiracy to commit bank fraud and wire fraud, bank fraud, wire fraud, false statements to a federally insured financial institution, and money laundering in connection with her involvement in several businesses loans. 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