Brockton man charged with $1.5M in COVID fraud bought cryptocurrency, feds say – Yahoo News
BOSTON — A Brockton man was charged with fraudulently obtaining over $1.5 million in COVID relief funds, the Justice Department said Monday.
Joao Mendes, 59, has agreed to plead guilty to one count of wire fraud after being charged in connection with a scheme to submit false applications to obtain Paycheck Protection Program (PPP) and Economic Injury Disaster Loan Programs (EIDL) funds through the Small Business Administration (SBA), which were made available under the CARES Act.
Beginning in or around June 2020 until around September 2020, Mendes allegedly "submitted or caused to be submitted" multiple fraudulent PPP and EIDL loan applications on behalf of various entities, charging documents said.
As a result, Mendes and others received over $1.5 million in PPP and EIDL funds, which Mendes spent for "his own personal benefit — including for the purchase of cryptocurrency — or transferred the funds into other accounts he controlled or to other individuals," the Justice Department said.
BSU track canceled: 'So unfair': BSU track team gets 1,000 signatures to bring back winter season
The CARES Act was enacted at the start of the pandemic in March 2020 and was designed to provide emergency financial aid to millions of Americans who were "suffering the economic effects caused by COVID-19."
Mendes' fraudulent PPP loan applications "misrepresented the number of employees and the average monthly payroll expenses of his various businesses," according to the Justice Department.
Here's what $1M buys in Easton: 'Spectacular' Easton contemporary sells for $1 million
He also allegedly submitted false tax records in support of his loan applications.
In his EIDL applications, Mendes allegedly misrepresented the number of employees, gross revenues and costs of goods sold for each business.
Mendes' wire fraud charge could get him a sentence of up to 20 years in prison, up to three years of supervised release and a fine of up to $250,000 or twice the gross gain or loss from the offense, according to the Justice Department.
This article originally appeared on The Enterprise: Brockton COVID relief: Joao Mendes charged with CARES Act wire fraud
Dubai police are dropping a second round of non-fungible tokens (NFTs), as digital assets conform to their interests in innovation, security and communication. In a statement on their website, Dubai police claim to be the first government entity in the United Arab Emirates (UAE) to create its own digital assets and the first police organization […]
The automaker is ready to pony up to keep people from doing it…
Biden's illness with COVID looked vastly different than Trump's, but the two did share some similarities in how they communicated with the public.
See it at MAG Auction's Reno event this weekend!
Meet the Arizona Republican candidates who deny the legitimacy of the 2020 election.
A deal among Democrats makes it a little more likely the government will negotiate prices for some drugs. Drugmakers have generally opposed the legislation, but a bill's passage could remove an overhang.
Story at a glance Although previous research has documented the toll of racially motivated discrimination on individuals’ mental health, new data highlight its effect during the COVID-19 pandemic. Those who experienced discrimination more than once a week had a 17-fold increased risk in depressive symptoms and 10-fold increased risk of suicidality. Researchers hope the findings…
Former Lawrenceburg utilities director indicted on 19 felonies
Stores that were robbed were at 11891 Palm Beach Boulevard near State Road 31 and at 15261 Convenience Way near the intersection with Gladiolus Drive.
Los Angeles residents can once again get free recycled water to irrigate their lawns, trees and plants through a Los Angeles Department of Water and Power program, officials announced Thursday.
The Department of Justice and Securities Exchange Commission have brought two separate insider-trading lawsuits against a former manager who worked at Coinbase. Yahoo Finance Senior Reporter David Hollerith spoke with UCLA Professor of Law Andrew Verstein on July 22, 2022.
Pfizer reported a jump in second-quarter profits Thursday behind a near doubling of revenues driven by sales of its Covid-19 vaccine and therapeutic drug Paxlovid.
Story at a glance UPS workers in New York City took to the streets on Thursday to protest unsafe working conditions. Workers rallied outside a UPS distribution center in Brooklyn, and called on leadership to provide air conditioning in delivery trucks. Unlike Amazon and the USPS, UPS trucks do not have AC and workers need…
Quintin Jarnall Larks, 32, of Las Vegas, is charged with attempted murder, home invasion robbery and carjacking, assault with a deadly weapon, evading arrest, and suspicion of DUI.
(Bloomberg) — Liquidators overseeing the wind-down of Three Arrows Capital may soon try to force founders Kyle Davies and Su Zhu to help clean up the mess left behind by the crypto hedge fund’s collapse.Most Read from BloombergRockstar Games Cleaned Up Its Frat-Boy Culture — and Grand Theft Auto, TooUS Economy Shrinks for a Second Quarter, Fueling Recession FearsThe Strong Dollar Is Wreaking Havoc Globally — And It’s Just Getting StartedBiden Considers New Pause on Paying Back Student Loans, $1
The lawsuit was filed April 29 in the United States District Court, and seeks compensatory and punitive damages, as well as legal fees.
Demand for transportation fuels remains strong despite mixed signals from inventory data collected by the U.S. Energy Information Administration (EIA), U.S. fuelmakers said on Thursday. Fears that the U.S. economy is heading into a recession have sent crude oil prices lower as recessions are usually followed by periods of lower fuel demand. Demand for gasoline has remained below the five-year seasonal average since early June, according to EIA data.
Nearly 200 grams of fentanyl were found during a search of an Upstate home this week, according to the Anderson County Sheriff's Office.
Three Akron men accused in death of Ethan Liming at I Promise School following gel gun prank indicted, two on felony charges, one with misdemeanors.
Family members of 9/11 victims have spoken out against the LIV golf tournament and called on Trump to cancel the event given its Saudi Arabia ties.