Southern California inland Riverside County man charged with filingEpidemicpay protectionloanFederal criminal charges for falsifying more than $6.6 million in documents during the PPP program. The defendant recently pleaded guilty in federal court.
Respondent Muhammad Noor Ui Ain Atta, 39, from Corona. According to the U.S. Attorney’s Office, the defendant pleaded guilty to fraud and use of money laundering in federal court in the city of Los Angeles.
According to the plea agreement, the defendant submitted 11 bogus PPP loan program applications to 11 shell companies registered to him after the outbreak, falsified the company’s workforce and monthly salary expenses, and defrauded that the loans were used for permitted businesses. will be done for purpose. The defendant also submitted false tax and salary documents to allow the application to be approved. The defendant received a total PPP loan of more than $6.6 million, even though his company was not part of itPledgeThing. The defendants then used money laundering to wire money into bank accounts in the United States and Pakistan.
The PPP loan detailed in the plea agreement was the defendant’s application for a $1.2 million loan to a company called Envisioning Future Inc. Falsely claimed that the company had 73 employees and falsely stated that the company would use the loan for permitted business purposes, including paying employees’ salaries and other business-related expenses. Prosecutors said the defendants’ fraudulent application, filed on April 10, 2020, was backed by a fake federal tax return and false salary data.
One month after the defendant submitted the application, Envisioning Future Inc. obtained a loan of 1.2 million yuan, and then the defendant remitted most of the money to his mother’s bank account. In June 2020, the defendant paid another 1.3 million yuan obtained by applying for a loan to a financial institution in Pakistan’s capital, Islamabad. Per the plea agreement, the defendants interpreted the remittances as family support.
Prosecutors reported that a federal district judge has scheduled a sentencing hearing on October 17, and if convicted, the defendant could face up to 20 years in prison.