Reports

A Riverside County man who purported to own a pothole-repair company was found guilty by a federal jury today of fraud charges for using hundreds of thousands of dollars from the Paycheck Protection Program (PPP) for personal expenses such as luxury cars after he obtained a PPP loan for more than $7 million on behalf of his business.

A federal jury convicted a California man today of misappropriating hundreds of thousands of dollars in forgivable Paycheck Protection Program (PPP) loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief and Economic Security (CARES) Act.

WASHINGTON – Elias Eldabbagh, 30, of Washington, D.C., pleaded guilty in federal court today to carrying out a scheme to steal more than $31 million under the CARES Act and laundering the proceeds of his scheme. Eldabbagh succeeded in stealing $2,385,000 under the Paycheck Protection Program (PPP) loans and Economic Injury Disaster Loans (EIDL).

A Texas woman was sentenced today to 70 months in prison for her scheme to defraud the Paycheck Protection Program (PPP) of over $1.9 million in loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

A Texas woman was sentenced today to 70 months in prison for her scheme to defraud the Paycheck Protection Program (PPP) of over $1.9 million in loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

A federal jury convicted a California man yesterday for submitting fraudulent applications seeking money from the Paycheck Protection Program (PPP), submitting false statements to a financial institution, and money laundering.

Two downtown Los Angeles residents were arrested today on a federal criminal complaint alleging they fraudulently obtained more than $300,000 – and attempted to obtain an additional $1 million – in COVID-relief loans for several companies they claimed to own and operate.