A Nevada man allegedly filed $1.9 million worth of fraudulent coronavirus relief loan applications, according to a Department of Justice (DOJ) press release.
An indictment from the District of Nevada levied towards Abramovs contains charges including “five counts of bank fraud, one count of making false statements to a bank, and five counts of money laundering”, according to the DOJ.
Abramovs allegedly submitted loan applications for three different businesses while also attaining loans from seven lenders by claiming to have multiple wage-earning employees, per the DOJ. The indictment also alleges that Abramovs was “purchasing a Tesla, a Bentley, two condominiums, and paying his home mortgage” with PPP funds.
Man Charged with $1.9 Million COVID-Relief Fraud: Jorge Abramovs of Las Vegas has been charged in an indictment for his alleged participation in a scheme to defraud multiple financial institutions. https://t.co/2yrWaoe10Y
— FBI Las Vegas (@FBILasVegas) January 28, 2021
Abramovs was arrested on Jan. 17 before U.S. Magistrate Judge Cam Ferenbach remanded him into custody on Jan. 22 ahead of his trial, according to the DOJ.
The Federal Bureau of Investigation (FBI) and the Small Business Administration Office of the Inspector General (SBA-OIG) conducted the investigation while the case will be prosecuted by Trial Attorney Joseph McFarlane and U.S. Attorney Jessica Oliva, according to the DOJ.
PPP loans “with a maturity of two years and an interest rate of 1 percent” are required to be used by businesses to cover “payroll costs, interest on mortgages, rent, and utilities”, according to the DOJ. (RELATED: Woman Admits To $2 Million In Fraudulent COVID-19 Checks)