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Department of Justice
San Diego Man Charged with $4 Million Covid-Related Loan Fraud and Money Laundering
SAN DIEGO – Denny Bhakta of San Diego was arraigned in federal court today on additional charges that he fraudulently obtained $4 million in Paycheck Protection Program loans through several entities he managed and controlled. Bhakta was first indicted in December 2021 for defrauding investors in his companies; a grand jury returned a superseding indictment this week that includes additional charges.
Department of Justice
West L.A. Man Gets More Than 6 Years in Prison for Illicitly Obtaining Nearly $9 Million in COVID Loans, Some of Which He Used for Las Vegas Gambling
A West Los Angeles man was sentenced today to 79 months in federal prison for fraudulently obtaining approximately $9 million in COVID-19 business loans, some of which he used on gambling excursions to Las Vegas and transferred to his stock trading accounts.
Department of Justice
Justice Department Announces New Charges, Convictions, and Sentencings in Ongoing Initiative Targeting Pandemic Relief Fraud
The Department of Justice announced today new criminal charges, convictions, and sentences as part of its ongoing initiative to prosecute fraud in connection with various pandemic relief programs under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, including the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) program, as well as other crimes relating to the COVID-19 pandemic.
Department of Justice
Irvine Man Sentenced to 4 Years in Federal Prison for Obtaining More Than $5 Million in COVID-Relief Loans for Sham Businesses
An Orange County man was sentenced today to 48 months in federal prison for fraudulently obtaining more than $5 million in COVID-relief loans for three shell companies.
Department of Justice
Orange County Man Agrees to Plead Guilty to Federal Charges for Obtaining More Than $5 Million in COVID Loans for Sham Companies
An Orange County man has agreed to plead guilty to federal criminal charges that he fraudulently obtained more than $5 million in COVID-relief loans for three sham companies.
Department of Justice
San Fernando Valley Family Members Sentenced to Years in Prison for Fraudulently Obtaining Tens of Millions of Dollars in COVID Relief
Three members of a San Fernando Valley family have been sentenced – two of them in absentia after they fled justice following their convictions at trial – to years in federal prison for scheming to fraudulently obtain more than $20 million in Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) COVID-19 relief funds.
Department of Justice
Seven Members of Los Angeles-Based Fraud Ring Sentenced for Multimillion-Dollar COVID-19 Relief Scheme
Seven members of a Los Angeles-based fraud ring were sentenced for a scheme to fraudulently obtain more than $20 million in Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) COVID-19 relief funds.