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Department of Justice

Koreatown Man Arrested on Charges that He Obtained More Than $2 Million in COVID Business Loans That He Invested in Cryptocurrency

A rideshare driver from the Koreatown neighborhood of Los Angeles has been arrested on a five-count federal indictment charging him with fraudulently obtaining more than $2 million in COVID-19 pandemic business-relief loans on behalf of his nonexistent companies, which he instead used to buy cryptocurrency, the Justice Department announced today.
Department of Justice

Four individuals charged in COVID-19 loan fraud scheme

A 13-count indictment has now been unsealed alleging a scheme to defraud the Small Business Administration and Paycheck Protection Program-affiliated lenders during the COVID-19 pandemic