14 people, mostly Indian-origin, charged in alleged $53 mn in US Covid relief fraud

[Konebhar6]

https://www.cbsnews.com/texas/news/u-s-attorneys-office-charges-cfo-controller-corporate-officers-in-53m-pandemic-relief-fraud-scheme/

Federal charges have been filed against 14 people for taking advantage of pandemic relief in a $53 million fraud scheme, U.S. Attorney for the Northern District of Texas Leigha Simonton announced.

The CFO, controllers and corporate officers were arrested Tuesday and Wednesday in Texas, California and Oklahoma. According to Simonton, they were operating recycling companies.

A series of indictments accuse the defendants of submitting at least 29 Paycheck Protection Program (PPP) loan applications that inflated payroll expenses, as well as reporting false business income through doctored bank statements. The documents also accuse them of routing PPP loan funds through a series of bank accounts to create a false paper trail of payroll expenses.

The Department of Justice continued its allegations against at least two defendants who, officials say, submitted false applications to financial institutions in relation to their so-called recycling companies to get millions of dollars in business loan proceeds.

"Defrauding the government is an affront to American taxpayers. Defrauding the government during a pandemic – at a time when millions of hardworking entrepreneurs struggled to make payroll and rent – is pouring salt in a wound," said Simonton in an emailed statement. "These defendants allegedly conspired to steal tens of millions of dollars from the Paycheck Protection Program – funds which could have helped legitimate businesses pay their bills and keep their employees afloat. We are thankful to the officers and agents who meticulously investigated this case, especially the data scientists at the Pandemic Analytics Center of Excellence, whose sophisticated analysis ensures that those who abused the PPP will be brought to justice." 

If convicted, officials say the defendants are facing up to 30 years in federal prison for each count of conspiracy to commit bank fraud, bank fraud and aiding and abetting, bank fraud and making a false statement to the Federal Deposit Insurance Corporation. In addition, they could face 20 years for wire fraud and 10 years for conspiracy to commit money laundering.

[Konebhar6]

And one defendant, Bhavesh aka Bobby Patel of Chief Business Development Officer for Sunshine Recycling, allegedly lied to the Federal Deposit Insurance Commission (FDIC) by stating that he did not know several of his other alleged coconspirators.

Some of those charged in the sixteen count-indictment filed last week include Mihir Patel, Chief Financial Officer of Sunshine Recycling for conspiracy to commit bank fraud, bank fraud and aiding and abetting, and conspiracy to commit money laundering; Kinjal Patel, Controller at Sunshine Recycling for bank fraud, bank fraud and aiding and abetting, and conspiracy to commit money laundering; Prateek Desai, owner of West Texas Scrap; Chirag Gandhi, aka Chris Gandhi, President and owner of 5G Metals and Sunshine Recycling, for bank fraud and bank fraud and aiding and abetting; Dharmesh Patel, aka Danny Patel, Co-President and co-owner of Elephant Recycling for conspiracy to commit bank fraud and bank fraud and aiding and abetting; Bhargav Bhatt, aka Brad Bhatt, NTC Industries employee for conspiracy to commit bank fraud, conspiracy to commit money laundering.

Those charged in separate indictments include Mrunal Desai, Chintak Desai, Ambreen Khan and Usha Sharma for bank/wire fraud and aiding and abetting.

[Sreeven]

Motham gujju batch la vundi

[surfroshan]

2 hours ago, Konebhar6 said:

And one defendant, Bhavesh aka Bobby Patel of Chief Business Development Officer for Sunshine Recycling, allegedly lied to the Federal Deposit Insurance Commission (FDIC) by stating that he did not know several of his other alleged coconspirators.

Some of those charged in the sixteen count-indictment filed last week include Mihir Patel, Chief Financial Officer of Sunshine Recycling for conspiracy to commit bank fraud, bank fraud and aiding and abetting, and conspiracy to commit money laundering; Kinjal Patel, Controller at Sunshine Recycling for bank fraud, bank fraud and aiding and abetting, and conspiracy to commit money laundering; Prateek Desai, owner of West Texas Scrap; Chirag Gandhi, aka Chris Gandhi, President and owner of 5G Metals and Sunshine Recycling, for bank fraud and bank fraud and aiding and abetting; Dharmesh Patel, aka Danny Patel, Co-President and co-owner of Elephant Recycling for conspiracy to commit bank fraud and bank fraud and aiding and abetting; Bhargav Bhatt, aka Brad Bhatt, NTC Industries employee for conspiracy to commit bank fraud, conspiracy to commit money laundering.

Those charged in separate indictments include Mrunal Desai, Chintak Desai, Ambreen Khan and Usha Sharma for bank/wire fraud and aiding and abetting.

indian ppl stop kelking fbi

[Sanjiv]

Ooru MK lu who think they are smarter than the US govt.

now they can enjoy the rest of their lives in - prison!

[CNR]

Every consulting company took this PPP loans ( average 500 k to 5 million) . I don’t understand why consulting owners took PPP loans. IT jobs are not effected in pandemic and they never had paid consultants if they are out of Job. If this thoroughly investigated all IT consulting companies owners( who took PPP laons)  will go to jail.

I know lot of companies in virginia , texas , California took PPP loans

All these PPP loans are forgiven and all the money is coming into stock market because of this inflation is high

[TotalDesi]

20 minutes ago, CNR said:

Every consulting company took this PPP loans ( average 500 k to 5 million) . I don’t understand why consulting owners took PPP loans. IT jobs are not effected in pandemic and they never had paid consultants if they are out of Job. If this thoroughly investigated all IT consulting companies owners( who took PPP laons)  will go to jail.

I know lot of companies in virginia , texas , California took PPP loans

All these PPP loans are forgiven and all the money is coming into stock market because of this inflation is high

Greed anna Greed!

[Sixers]

1 hour ago, CNR said:

Every consulting company took this PPP loans ( average 500 k to 5 million) . I don’t understand why consulting owners took PPP loans. IT jobs are not effected in pandemic and they never had paid consultants if they are out of Job. If this thoroughly investigated all IT consulting companies owners( who took PPP laons)  will go to jail.

I know lot of companies in virginia , texas , California took PPP loans

All these PPP loans are forgiven and all the money is coming into stock market because of this inflation is high

Konni perlu cheppu report Cheddam

[appaji_pesarattu]

3 minutes ago, Sixers said:

Konni perlu cheppu report Cheddam

@Sucker uncle

[subramanyam_for_sale]

2 hours ago, CNR said:

Every consulting company took this PPP loans ( average 500 k to 5 million) . I don’t understand why consulting owners took PPP loans. IT jobs are not effected in pandemic and they never had paid consultants if they are out of Job. If this thoroughly investigated all IT consulting companies owners( who took PPP laons)  will go to jail.

I know lot of companies in virginia , texas , California took PPP loans

All these PPP loans are forgiven and all the money is coming into stock market because of this inflation is high

people tech 14 reels and ak entertainments and mythri Anni nadavali kada - its all this same money

[subramanyam_for_sale]

7 minutes ago, Sixers said:

Konni perlu cheppu report Cheddam

I think the list was posted sometime ago, about 99.9% desi consulting companies

[veerigadu]

nice happened. 

[Paamu]

guilty aythe (most likely guilty)..... vasool chestara or jail only ?

[Paamu]

3 hours ago, CNR said:

Every consulting company took this PPP loans ( average 500 k to 5 million) . I don’t understand why consulting owners took PPP loans. IT jobs are not effected in pandemic and they never had paid consultants if they are out of Job. If this thoroughly investigated all IT consulting companies owners( who took PPP laons)  will go to jail.

I know lot of companies in virginia , texas , California took PPP loans

All these PPP loans are forgiven and all the money is coming into stock market because of this inflation is high

Correct. But e telivi loans iche mundu enduko ledo naaku artham kaale. Small businesses like restaurants were really impacted ..... vallaki ok.... kaani revenue and expenses choodakunda how did they forgive the PPP loans for consultancies. What magic/fraud chesinaru mestri lu.

[veerigadu]

1 minute ago, Paamu said:

guilty aythe (most likely guilty)..... vasool chestara or jail only ?

LLC meedha theesukunna dhanikii personal liability chala limited. Law lo loopholes will help them get away with minor infraction.