Fourteen people were federally charged in a fraud scheme involving the Paycheck Protection Program.
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“Defrauding the government is an affront to American taxpayers. Defrauding the government during a pandemic — at a time when millions of hardworking entrepreneurs struggled to make payroll and rent — is pouring salt in a wound,” said Leigha Simonton, U.S. attorney a release. “These defendants allegedly conspired to steal tens of millions of dollars from the Paycheck Protection Program — funds which could have helped legitimate businesses pay their bills and keep their employees afloat.
This week, defendants were arrested in Texas, California and Oklahoma by FBI and other federal agents. Eight of the 14 defendants are from cities in North Texas. The case is the largest investigated by the Pandemic Response Accountability Committee Fraud Task Force to date. At least two defendants also allegedly submitted false applications to financial institutions on behalf of their companies. One defendant allegedly lied to the Federal Deposit Insurance Commission by stating that he did not know several of the other defendants.Among those charged in a 16 count-indictment filed include; Mihir Patel of Coppell, chief financial officer of
, and owner of Mammoth Group, R.A. Industries and L.K. Industries; Kinjal Patel of Wylie, controller at Sunshine Recycling; and Bhavesh Patel of Keller, chief business development officer of Sunshine Recycling and owner of Level Eight, among others.The charges carry up to 30 years in federal prison for each count of conspiracy to commit bank fraud, bank fraud, aiding and abetting, and making false statements to the FDIC.
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