BOSTON (AP) — A former Massachusetts resident has been charged by prosecutors with fraudulently acquiring $2.5 million in federal reduction funds meant for companies struggling throughout the coronavirus pandemic and utilizing the cash to purchase automobiles and put money into cryptocurrency.
Vinicius Santana, 34, who used to reside in Saugus and now lives in Boca Raton, Florida, was arrested earlier this week in Florida and can seem in federal in courtroom in Massachusetts at a future date to face a cost of wire fraud, in line with an announcement Wednesday from the U.S. legal professional’s workplace in Boston.
No protection legal professional was listed in courtroom information.
Santana submitted 4 totally different Paycheck Safety Program mortgage purposes on behalf of his portray firm in April 2020, prosecutors mentioned.
Three, during which he mentioned he had only a handful of staff and a mean month-to-month payroll of no extra greater than $18,000, had been denied. Within the fourth, Santana mentioned he had 154 staff and a mean month-to-month payroll of $1 million. These figures had been false, prosecutors mentioned, however however, the applying was permitted and he acquired a $2.5 million mortgage.
Santana used the cash to purchase a home, repay auto loans and purchase autos, and to put money into cryptocurrency, prosecutors mentioned.
The Paycheck Safety Program supplied forgivable loans to small companies struggling throughout the pandemic for use for job retention and sure different permitted bills.
If convicted, Santana faces as much as 20 years in jail.
