A federal investigative jury in Puerto Rico indicted six people for an alleged fraudulent plot linked to nine million dollars of government funds for the pandemic, officials said Wednesday.
The suspects, including a banker, face charges including wire fraud and money laundering, the US attorney’s office said.
“This case demonstrates the effrontery with which the defendants took advantage of the federal programs intended to help businesses that have been severely affected by the COVID-19 pandemic,” said Stephen Muldrow, the U.S. Attorney for the District of Puerto Rico.
Authorities accused the suspects of submitting more than 270 loan applications between April 2020 and April 2023 using false identification, tax documents, payroll and bank records to illegally access federal recovery funds.
According to authorities, the federal government seized nearly $850,000 in profits from the alleged plot at an unidentified bank where one of the suspects worked.
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