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Vinicius Santana, 34, of Boca Raton, Florida, was charged with wire fraud and unlawful money transactions, the federal prosecutor's office said.
Officials said Santana owned the Massachusetts-based painting company Complete Home Care, LLC and applied for Paycheck Protection Program loans four times. Federal pursers denied the first three applications where he claimed to have five employees and between $10,000 and $18,000 in month payroll expenses, the prosecutor said. In his fourth attempt, they said, Santana claimed to have 154 employees with an average monthly payroll of $1 million.
A bank gave him a $2.5 million loan based on these fabricated numbers, prosecutors said. Santana used more than $17,000 to pay off two car loans, nearly $30,000 to buy a 2019 Toyota Highlander, and spent $90,000 at an Audi dealership in Burlington, MassLive reported. He spent $900,000 on cryptocurrency and purchased real estate with federal relief funds, authorities said.
Santana faces up to 30 years in prison if convicted on both counts, authorities said, along with fines.
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