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BOSTON (AP) — The U.S. Justice Division says seven folks have been arrested in reference to a $7.5 million fraudulent scheme to acquire tens of millions of dollars by the Paycheck Safety Program, designed to assist companies hold staff employed in the course of the COVID-19 pandemic.
Three of the seven folks charged had been from Massachusetts, two from Georgia and one every from Tennessee and Florida.
In a information launch, prosecutors say the people submitted dozens of fraudulent purposes to Paycheck Safety Program lenders. Along with fraudulent mortgage purposes, a few of these charged inflated the variety of people who had been eligible for this system and a few paid and obtained kickbacks. All of the suspects have appeared in federal court docket and have been launched.
One of many defendants from Massachusetts allegedly issued sham payroll checks to himself and his kin, bought a brand new residence for himself, paid $32,000 to French Bulldog breeders and bought a Rolls Royce.
The defendants had been charged with conspiracy to commit wire fraud, which carries a most sentence of 20 years in jail, and conspiracy to commit illegal financial transactions which carries a most sentence of 10 years.
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