Inland Empire Man Pleads Guilty to His Role in Crime Ring that Fraudulently Obtained $3.5 Million in COVID Business-Relief Loans
A Riverside County man pleaded guilty today – making him the third defendant in his case to plead guilty this week – to fraudulently obtaining from COVID-19 business-relief loans then helping others fraudulently obtain COVID business loans in exchange for a cut of the illicit proceeds, causing a total loss to taxpayers of approximately $3.5 million.
What happened
A Riverside County man pleaded guilty today – making him the third defendant in his case to plead guilty this week – to fraudulently obtaining from COVID-19 business-relief loans then helping others fraudulently obtain COVID business loans in exchange for a cut of the illicit proceeds, causing a total loss to taxpayers of approximately $3.5 million.
Why it matters
The development may change operating conditions or market expectations around Regulation. Further confirmation and measurable outcomes matter.
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1 reports · 1 original report · 1 independent
- U.S. Department of JusticePrimary source · Supports · EN · 100%Inland Empire Man Pleads Guilty to His Role in Crime Ring that Fraudulently Obtained $3.5 Million in COVID Business-Relief Loans ↗
Claims
- Inland Empire Man Pleads Guilty to His Role in Crime Ring that Fraudulently Obtained $3.5 Million in COVID Business-Relief Loans Observed
Conflicts
No material conflict detected in the available evidence.
Timeline
- First reported
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