Mass. business owner gets three years in prison for attempted $13M COVID relief scam
The Massachusetts-centered operator of a tech startup has been sentenced to a lot more than three decades in prison for filing fraudulent personal loan purposes in search of extra than $13 million from a variety of COVID aid packages.
Elijah Buoi, 40, of Winchester, was convicted in february of 4 counts of wire fraud and just one depend of generating a phony statement to a financial establishment.
Federal prosecutors say Buoi submitted six fraudulent Paycheck Safety Method (PPP) applications on behalf of his firm, Sosuda Tech, LLC, to four diverse Smaller Business enterprise Administration-accepted creditors. In every single application, Buoi misrepresented the number of workers and payroll expenses he had, when in actuality his firm had no U.S.-centered payroll or U.S.-based staff members, according to the U.S. Attorney’s business.
Prosecutors say Buoi submitted fraudulent IRS tax forms in aid of his programs, ultimately obtaining a $2 million PPP financial loan. The governing administration was equipped to get better about $1.97 million of those money.
As element of his sentence, Buoi ought to fork out restitution of $2 million and forfeit $2 million.
Down load the No cost Boston 25 Information app for breaking news alerts.
Follow Boston 25 Information on Facebook and Twitter. | Enjoy Boston 25 News NOW
