December 3, 2022

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

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A person from Baltimore is struggling with federal charges for allegedly submitting fraudulent reduction personal loan apps and thieving the id of a tax preparer.



Baltimore Person Indicted on Fees He Faked PPP Mortgage and EIDL Loan Application

The 37-yr-outdated defendant, Dana Lamar Antonio Hayes Jr., is alleged to have submitted falsified tax documents, fraudulent economic disaster aid mortgage programs and CARES Act paycheck method safety personal loan programs on behalf of his not long ago revived organization. The federal grand jury returned the indictment for the federal costs of wire fraud, dollars laundering and aggravated identity theft.

Unsealed Indictment Returned

The 6-depend indictment stated that between March 2020 and Oct 2021, Hayes submitted a number of fraudulent Economic Injuries Disaster Reduction bank loan application (EIDL loan). He also submitted several Paycheck Safety Approach mortgage apps (PPP financial loans) to the Tiny Small business Administration (SBA) and two monetary institutions stated as unnamed banks.

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

Accused ‘Regularly Contacted the SBA’ for Mortgage Acceptance

A assertion launched by the Office of Justice went into further more depth about the scenario, saying: “Specifically, the indictment alleges in March 2020, Hayes submitted a fraudulent EIDL bank loan software on behalf of his formerly forfeited and not long ago revived firm, D&L Financial commitment Properties Inc. The EIDL bank loan software allegedly contained bogus statements concerning the amount of workers and payroll fees of D&L.

“On the basis of phony and fraudulent info, the SBA accepted Hayes’s EIDL software and presented Hayes loan cash on behalf of D&L. The indictment also alleges that Hayes claimed to have organization expenses of $15,000 and tools prices of $35,000 when the organization experienced been inactive given that 2019.  On top of that, in just the EIDL application, Hayes allegedly mentioned that he was not on probation at the time of the filing.

“As alleged in the indictment, after the SBA originally denied Hayes’ EIDL application, he allegedly often contacted the SBA to have his EIDL software permitted. The moment the software was accepted and the resources were deposited into D&L’s financial institution account, Hayes allegedly transferred all of the financial loan proceeds from D&L’s lender account into his own financial savings account.”

The assertion also famous that the indictment alleges that Hayes used the name and Preparer Tax Identification selection of an unnamed sufferer to submit fraudulent lender forms devoid of the victim’s information or consent. The target had been previously employed by Hayes to prepare D&L and Hayes’ personalized tax returns, but now claims that they never ready specific varieties for D&L at all. Federal records also suggest no these kinds of varieties were being ever filed.

Numerous Achievable Sentences for Fraudster

Hayes faces a maximum sentence of 20 decades in federal jail for the charge of wire fraud, as well as 10 decades in federal prison for income laundering. If convicted, he will also incur a required two several years in federal jail for aggravated id theft, to be served before commencing any other sentence.

Federal crimes do not typically acquire the maximum penalties, nonetheless, and the federal district court judge will use the U.S. Sentencing Guidelines and other statutory variables to figure out the true sentence.

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Image: Depositphotos


More in: EIDL Financial loan, PPP Loans




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