During the COVID-19 pandemic, the U.S. Government decided to give out two stimulus checks to every citizen as well as loans to help out struggling
According to a report by WSB-TV in Atlanta, the Department of Justice announced a Georgia man is facing charges alleging he obtained over $2 million in PPP loans without actually having a business.
Anthony Boncimino, 46, who lives in Sycamore in Southwest Georgia, was indicted on July 8 with four counts each of bank fraud, money laundering, and making false statements,
The Indictment shows that Bocimino submitted four fraudulent loan applications on behalf of shell companies even though they suffered no losses during the pandemic.
Government officials said the businesses either did not exist, did not conduct business, or only existed on paper.
“Fraudsters who attempt to capitalize during a global pandemic will face the possibility of federal prosecution for their crimes,” said Acting U.S. Attorney for the Middle District of Georgia Peter D. Leary.
For any of you that were thinking about doing this, Boncimino faces a total of 45 years in prison.
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