India Post News Paper

 Breaking News

Indian-American pleads guilty to Covid relief fraud

Indian-American pleads guilty to Covid relief fraud
March 26
16:11 2021

WASHINGTON: A Texas-based Indian-American man has pleaded guilty to a $24.8 million Covid-19 relief fraud scheme, according to media reports.

In a statement issued on Thursday, the Justice Department said that Dinesh Sah, 55, admitted that he submitted 15 fraudulent applications under the names of various purported businesses that he owned or controlled, to eight different lenders, the American Bazaar reported.

Sah claimed that these businesses had numerous employees and hundreds of thousands of dollars in payroll expenses when, in fact, no business had employees or paid wages consistent with the amounts claimed in the Paycheck Protection Program (PPP) applications. Sah admitted that he submitted fraudulent documentation in support of his applications, including fabricated federal tax filings and bank statements for the purported businesses, according to court documents.

“The Paycheck Protection Program was designed to aid struggling business owners, not to line the pockets of crafty profiteers,” Acting US Attorney Prerak Shah of the Northern District of Texas said. “Even as fellow businesspeople tried desperately to procure the funds they needed to keep their business afloat, Sah dipped into federal coffers to fund his lavish lifestyle.”

Sah admitted that, based on his false statements and fabricated documents, he received over $17 million in PPP loan funds and diverted the proceeds for his personal benefit.

As part of his guilty plea, Sah agreed to forfeit, among other property, eight homes, numerous luxury vehicles, and more than $7.2 million in fraudulent proceeds that the government has seized to date. Sah pleaded guilty to one count of wire fraud and one count of money laundering in the Northern District of Texas.

He will be sentenced at a later date and faces a maximum penalty of 30 years in prison.

Comments

comments

Related Articles

youtube-subscribe-png

E-paper Latest Edition

ADVERTISEMENT – SHEA Homes

SHEA Homes

ADVERTISEMENT – Boomi Coffee

Best Instant Coffee in The USA

ADVERTISEMENT – MY BETTING

best indian betting sites

ADVERTISEMENT – SONA9

SONA9 Indian Betting Website

We make it easier for you by providing you with the latest news, celebrity gossip, and useful articles. Today we are bringing you a new form of entertainment, online casino India.

Casinoexpressindia.com is a website specialized in providing the folk of India with the best online casino out there.

Time to read some reviews about online casinos and start playing some fun games.

ADVERTISEMENT – ASIABET 2020

Asiabet

50 SPIRITUAL APPETIZERS – VINOD DHAWAN

50-ad-Indiapost

It’s a lovely book. It feels energetically clear and light. It’s easy to read, dip in and out and most importantly it offers information without fluff! Blessings on this project.

Jac O’Keeffe
Spirituality teacher based in USA.

*Available on Amazon, Flipkart & other online stores*

ADVERTISEMENT – JOBSORA- FIND A JOB NOW!

Jobsora Jobs

POPULAR CATEGORIES

Follow us On Twitter

@TimesNow: #NewsAlert | Indore: Curfew extended for 5 more days. https://t.co/ftcY4M9CIF
h J R
@PTI_News: About 24,000 COVID-19 cases reported in Delhi in last 24 hours. Beds and oxygen supply running out slowly: CM Arvind Kejriwal
h J R

Download Media Kit

India Post Media Kit