Man convicted of fraudulently seeking $13M in COVID-19 loans
Criminal Law
A Massachusetts businessman has been convicted of fraudulently seeking more than $13 million in federal coronavirus pandemic relief loans, federal prosecutors said.
Elijah Majak Buoi, 40, of Winchester, was convicted Thursday of four counts of wire fraud and one count of making a false statement to a financial institution following a three-day trial in Boston federal court, according to U.S. Attorney for Massachusetts Rachael Rollins’ office.
Prosecutors said Buoi submitted six loan applications through the Paycheck Protection Program but misrepresented the number of employees and payroll expenses for his startup company, Sosuda Tech. He also submitted fraudulent IRS tax forms to support his applications, they said.
The loan program was part of the Coronavirus Aid, Relief and Economic Security, or CARES, Act that allowed qualifying small businesses and other organizations to receive forgivable loans to cover payroll, mortgages, rent and utilities.
Buoi was able to obtain a $2 million loan before he was arrested in June 2020. Rollins’ office said the government has recovered nearly all of the money.
Related listings
-
US sanctions Myanmar judiciary officials on coup anniversary
Criminal Law 01/05/2022The Biden administration on Monday slapped sanctions on top members of Myanmar’s judiciary and one of its main revenue-producing ports over rights abuses since last year’s coup. The sanctions on the country’s attorney general, supre...
-
International Criminal Court to probe abuses in Venezuela
Criminal Law 11/09/2021The International Criminal Court is opening a formal investigation into allegations of torture and extrajudicial killings committed by Venezuelan security forces under President Nicolás Maduro’s rule, the first time a country in Latin Am...
-
Spain: Venezuelan spymaster loses court extradition dispute
Criminal Law 09/20/2021Spain’s Supreme Court refused Monday to suspend a government decision allowing a former Venezuelan spymaster to be extradited to the United States. Lawyers for Gen. Hugo Carvajal, who for over a decade was late Venezuelan leader Hugo Chavez&rsq...