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Sunday, February 25, 2024

Six in Puerto Rico indicted in $9M scheme concentrating on US funds

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Officers say a federal grand jury in Puerto Rico has indicted six individuals accused in a $9 million fraudulent scheme involving authorities pandemic funds

SAN JUAN, Puerto Rico — A federal grand jury in Puerto Rico has indicted six individuals in an alleged fraudulent scheme involving $9 million in authorities pandemic funds, officers mentioned Wednesday.

The suspects, together with a banker, face costs together with wire fraud and cash laundering, the U.S. Lawyer’s Workplace mentioned.

“This case demonstrates the brazenness with which the defendants took benefit of federal packages meant to assist companies that had been severely affected by the COVID-19 pandemic,” U.S. Lawyer Stephen Muldrow mentioned.

Authorities accused the suspects of submitting greater than 270 mortgage functions from April 2020 to April 2023 utilizing pretend IDs, tax paperwork, payroll information and financial institution information to illegally receive federal restoration funds.

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Officers mentioned the U.S. authorities seized practically $850,000 in proceeds of the alleged scheme from an unnamed financial institution the place one of many suspects labored.



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