A Southeast Michigan man has been federally indicted on charges relating to fraudulent loan applications submitted to COVID-era business assistance programs.
Over $3 million was received on behalf of a business called Priceless Preservations Construction, the court records said.
Jabari Kadar Long, 45, of Beverly Hills is charged with one count of conspiracy to commit wire fraud, one count of wire fraud affecting a financial institution, and one count of money laundering arising out of his participation in the scheme, the U.S. Attorney's Office for the Eastern District of Michigan reported.
The indictment claims that Long worked with co-conspirators to illegally obtain money through ineligible business loan applications to the Paycheck Protection Program and the Economic Injury Disaster Loans program.
Congress created the PPP program in early 2020 to provide emergency assistance to businesses that faced financial challenges at the outbreak of the COVID-19 pandemic. Eligible businesses could apply for loans guaranteed by the Small Business Administration, and additional requirements applied to those seeking to have the loans forgiven at a later date. --->READ MORE HERE
A Hopkinton man who operated a roofing and construction company in Framingham with his wife was sentenced Monday in federal court in Boston for his efforts to defraud their workers’ compensation insurance carriers, the Small Business Administration (SBA) and their mortgage lender. In one instance, the couple used pandemic-related economic assistance toward the purchase of a Hopkinton home.
Ronaldo Solano, 52, was sentenced by U.S. District Court Judge Indira Talwani to one year and one day in prison, to be followed by two years of supervised release. He will serve his first six months on home detention.
His wife, Adriana Solano, 41, was sentenced on June 23 to time served — one day — followed by 27 months of supervised release. The first three months of her sentence are being served on home detention.
Ronaldo and Adriana Solano were ordered to pay $1,625,872.03 jointly in restitution. Also, Ronaldo Solano was ordered separately to pay an additional $627,675.88 in restitution.
In January, Ronaldo Solano pleaded guilty to one count of conspiracy to commit mail and wire fraud, one count of conspiracy to commit wire and bank fraud, one count of mail fraud and one count of wire fraud. At that time, Adriana Solano pleaded guilty to one count of conspiracy to commit wire and bank fraud. The couple was indicted by a federal grand jury in March 2024 on multiple counts of fraud.
The initial charges stemmed from financial activity that occurred between about 2012 and 2020 at the Framingham-based roofing and construction company the Solanos operated. Under the names H&R Roofing & Construction Inc. and H&R Roofing & Siding Corp., they avoided more than $627,000 in workers’ compensation insurance premiums by underreporting payroll and paying workers through an uninsured third company. --->READ MORE HEREFollow links below to relevant/related stories and resources:
As COVID babies go to school, educators look for pandemic’s impact
Unused COVID-19 vaccines may have a second life in the development of new biosensors
USA TODAY: Coronavirus Updates
WSJ: Coronavirus Live Updates
YAHOO NEWS: Coronavirus Live Updates
NEW YORK POST: Coronavirus The Latest
If you like what you see, please "Like" and/or Follow us on FACEBOOK here, GETTR here, and TWITTER here.
No comments:
Post a Comment