Man convicted of fraudulently seeking $13M in COVID-19 loans
Law Firm News
A Massachusetts businessman has been convicted of fraudulently seeking more than $13 million in federal coronavirus pandemic relief loans, federal prosecutors said.
Elijah Majak Buoi, 40, of Winchester, was convicted Thursday of four counts of wire fraud and one count of making a false statement to a financial institution following a three-day trial in Boston federal court, according to U.S. Attorney for Massachusetts Rachael Rollins’ office.
Prosecutors said Buoi submitted six loan applications through the Paycheck Protection Program but misrepresented the number of employees and payroll expenses for his startup company, Sosuda Tech. He also submitted fraudulent IRS tax forms to support his applications, they said.
The loan program was part of the Coronavirus Aid, Relief and Economic Security, or CARES, Act that allowed qualifying small businesses and other organizations to receive forgivable loans to cover payroll, mortgages, rent and utilities.
Buoi was able to obtain a $2 million loan before he was arrested in June 2020. Rollins’ office said the government has recovered nearly all of the money.
Related listings
-
Should My Law Business Have A Blog?
Law Firm News 08/06/2021If you already have a unique, high-quality website with strong content and SEO techniques, you may be wondering what else you can do to amplify your online presence. One way to significantly boost your legal business’s online marketing efforts ...
-
New York Dental Malpractice Claims
Law Firm News 07/19/2021The law firm of Jordan R. Pine & Associates is exclusively dedicated to representing clients in dental malpractice lawsuits in New York State. New York Dental Malpractice Attorney - We have been involved with over 1,000 dental malpractice cases a...
-
Grandson of Harding and lover wants president’s body exhumed
Law Firm News 09/11/2020The grandson of U.S. President Warren G. Harding and his lover, Nan Britton, went to court in an effort to get the Republican’s remains exhumed from the presidential memorial where they have lain since 1927. James Blaesing told an Ohio court th...
Any contracts or any transactions can go awry at any time
We know your business means a lot to you and want to understand all the aspects of your business so that we can help you in the best ways possible. We don’t discriminate depending on the size of your company. Our mission statement is to represent all business owners and entrepreneurs by navigating them through the rough waters of business litigation and guiding them to success.
We are attorneys who want to make sure we understand your business objectives and goals before we start providing you with legal counsel individualized to your business. We know what it means to be dedicated to your business. After all, we are a business as well. And just like you, we want to provide the best service we can to our clients.
Any contracts or any transactions can go awry at any time. Sometimes, making important business decisions without legal help from business attorneys could cost you your business.We don’t want you or your business to be misconstrued by anyone. Our attorneys make sure that we communicate with you often to make sure we are giving you the legal guidance you need at all times. We make sure we are responsive in a timely-manner with every single one of our clients to help them identify risks and prevent legal battles before they arise.