A man in California, U.S., was caught after he allegedly used the government-issued coronavirus relief fund for small businessesto buy luxury sports cars, including a Ferrari, a Lamborghini, and also went on lavish vacations.?
Mustafa Qadiri, 38, obtained about $5 million in Paycheck Protection Program money after claiming to own four businesses, none of which are in business, according to a federal indictment.
As per a report in USA Today?citing?US Attorney's Office of California, Qadiri submitted claims for his four businesses in May?and June 2020 with altered bank accounts, fake federal tax return forms and someone else's identity.?
It was said?that he then used?the money for vacations, personal expenses, and Ferrari, Bentley and Lamborghini sports cars.
The authorities have now seized the Ferrari, Bentley and Lamborghini cars along with the remaining $2 million from his bank accounts.?
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He was arrested?last week, but later?released on a $100,000 bond.?
He has pleaded not guilty to multiple charges including bank fraud, wire fraud, aggravated identity theft, and money laundering, according to the?US Attorney¡¯s Office.?
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Prosecutors said Qadiri submitted fraudulent PPP loan applications to three banks on behalf of four companies that didn¡¯t actually exist. The applications included altered bank records, fake tax returns and false information about employees, according to the indictment.??
Qadiri also used someone else¡¯s name, Social Security number and signature to fraudulently apply for one of the loans, prosecutors added.??
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