Fraudsters potentially stole more than $280 billion COVID-19 relief funding; another $123 billion was wasted or misspent. Combined, the loss represents 10 percent of the $4.2 trillion the U.S. government has so far disbursed in EDIL loans, PPP loan and other COVID relief aid.
Three Massachusetts residents have been sentenced recently for separate loan and bank fraud cases.
The owner of a Massachusetts food truck business pleaded guilty Tuesday to filing fraudulent loan applications to obtain $1.5 million in federal pandemic relief funds, federal prosecutors said.
An investigation highlights that four prominent fintech companies were nothing more than loan approval factories that lacked the resources and the acumen to detect fraud.
A Massachusetts man who admitted to lying on his application for federal coronavirus business aid will spend time in prison for using some of the money to pay his mortgage.
A Marblehead man and woman are accused of submitting fraudulent loan applications for religious charitable organizations they control.
A former Revere business owner has agreed to plead guilty to filing fraudulent applications to obtain a $2.5 million Paycheck Protection Program loan.
A Wenham man and a Brockton man have separately agreed to plead guilty to schemes to fraudulently obtain Paycheck Protection Program loans.
A Massachusetts man has agreed to plead guilty to fraudulently obtaining about $1.2 million in federal loans intended to help businesses struggling because of the COVID-19 pandemic.
A Stoughton man who lied on his application for federal coronavirus business stimulus funds and then used some of the $400,000 he received to pay his mortgage has pleaded guilty to wire fraud, federal prosecutors said.
A former Revere resident who owned a painting company has been arrested and charged with allegedly filing a fraudulent application to obtain a $2.5 million Paycheck Protection Program loan.
A Massachusetts businessman has been convicted of fraudulently seeking more than $13 million in federal coronavirus pandemic relief loans, federal prosecutors said.
The owner of a Massachusetts pizza parlor lied about the number of employees he had to fraudulently obtain more than $660,000 in federal coronavirus relief funds, then used some of the money to buy and stock an alpaca farm in Vermont, federal prosecutors said Tuesday.
