Baltimore Man Indicted on Charges He Faked PPP Loan and EIDL Loan Application

Anderson Hacken

A person from Baltimore is dealing with federal rates for allegedly publishing fraudulent aid bank loan programs and thieving the identity of a tax preparer.

Baltimore Person Indicted on Costs He Faked PPP Financial loan and EIDL Financial loan Application

The 37-calendar year-old defendant, Dana Lamar Antonio Hayes Jr., is alleged to have submitted falsified tax files, fraudulent economic disaster reduction mortgage programs and CARES Act paycheck method security mortgage apps on behalf of his a short while ago revived company. The federal grand jury returned the indictment for the federal prices of wire fraud, dollars laundering and aggravated identification theft.

Unsealed Indictment Returned

The six-rely indictment stated that concerning March 2020 and October 2021, Hayes submitted various fraudulent Financial Damage Catastrophe Relief loan application (EIDL personal loan). He also submitted quite a few Paycheck Safety System financial loan applications (PPP loans) to the Tiny Small business Administration (SBA) and two financial establishments listed as unnamed banks.

The indictment was announced by United States Attorney for the District of Maryland Erek L. Barron, along with Special Agents in Cost Thomas J. Sobocinski of the FBI and Darrell J. Waldon of the IRS.

Accused ‘Regularly Contacted the SBA’ for Loan Approval

A statement launched by the Department of Justice went into even further element about the situation, stating: “Specifically, the indictment alleges in March 2020, Hayes submitted a fraudulent EIDL loan application on behalf of his earlier forfeited and lately revived enterprise, D&L Investment Qualities Inc. The EIDL mortgage software allegedly contained bogus statements concerning the quantity of workforce and payroll expenditures of D&L.

“On the foundation of false and fraudulent facts, the SBA approved Hayes’s EIDL software and furnished Hayes bank loan resources on behalf of D&L. The indictment also alleges that Hayes claimed to have company fees of $15,000 and tools fees of $35,000 when the organization experienced been inactive given that 2019.  Additionally, inside the EIDL application, Hayes allegedly stated that he was not on probation at the time of the filing.

“As alleged in the indictment, following the SBA to begin with denied Hayes’ EIDL application, he allegedly routinely contacted the SBA to have his EIDL application accepted. As soon as the application was approved and the funds have been deposited into D&L’s bank account, Hayes allegedly transferred all of the personal loan proceeds from D&L’s lender account into his personal cost savings account.”

The assertion also famous that the indictment alleges that Hayes used the identify and Preparer Tax Identification amount of an unnamed target to submit fraudulent bank kinds without the victim’s awareness or consent. The target had been earlier hired by Hayes to prepare D&L and Hayes’ particular tax returns, but now promises that they never ready specified types for D&L at all. Federal data also indicate no these types of sorts have been at any time filed.

Many Feasible Sentences for Fraudster

Hayes faces a maximum sentence of twenty years in federal prison for the cost of wire fraud, as well as ten decades in federal prison for money laundering. If convicted, he will also incur a mandatory two decades in federal prison for aggravated id theft, to be served ahead of beginning any other sentence.

Federal crimes do not ordinarily receive the highest penalties, even so, and the federal district courtroom judge will use the U.S. Sentencing Rules and other statutory elements to decide the true sentence.

Get the most current headlines from Smaller Company Traits. Adhere to us on Google Information.

Image: Depositphotos

Additional in: EIDL Personal loan, PPP Loans

Next Post

Tax Deduction Limits and the Pass-Through Entity

The Tax Cuts and Jobs Act (TCJA) passed in 2017 included limits in the amounts of state and local taxes individuals are now able to deduct. States have tried to work around these limits in a number of ways, but the most popular that has been blessed by the IRS […]