SDE Charged with COVID Relied Fraud

WHAT ARE YOUR THOUGHTS?! A Software Engineer in Seattle Fraudulently Sought More than $1.5 Million in CARES Act SBA Paycheck Protection Loans Defendant allegedly sought over a million dollars in forgivable loans guaranteed by the SBA from multiple banks by claiming fictitious payroll expenses associated with fictitious information technology companies that he created. Defendant allegedly provided fraudulent documents to two different lenders in support of applications for loans guaranteed by the SBA for COVID-19 relief through the PPP. In total, Defendant sought forgivable loans in the amount of $1,525,000. Allegedly, Defendant provided lenders with fraudulent IRS documentation purporting to show federal tax withholdings for a sole proprietorship in his name for 25 employees. As part of an effort to show that this business had been operating for several quarters, Defendant allegedly submitted to two lenders documentation purporting to show that, on April 3, 2017, the IRS had assigned an Employer Identification Number (EIN) to his sole proprietorship. In fact, the IRS assigned the EIN on April 3, 2020, only a week before Defendant submitted his application to the lender. Defendant allegedly also provided fraudulent IRS documentation purporting to show federal tax withholdings for 20 employees for a limited liability company he created. Defendant allegedly provided falsified documentation purporting to show that an EIN for the second company had been assigned in 2018. In fact, the IRS assigned the EIN on April 21, 2020, just two days before Defendant submitted an application for the company to the lender. Defendant also allegedly provided the lender with a bank statement purporting to show that the company had disbursed payroll payments in December 2019. In fact, Defendant opened that account in April 2020. A federal criminal complaint is merely an accusation. A defendant is presumed innocent until proven guilty beyond a reasonable doubt in a court of law. #amazon #lyft #coronavirus #wfh #aws