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Friday, sep 27
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Federal Deposit Insurance Corporation
Police & Fire
$2M NJ Scammer Who Claimed Dead People As Biz Partners Gets 3 Years, No Parole
UPDATE: A scammer from Sussex County who fraudulently collected more than $2 million in federal funds by identifying people who'd been dead for more than a decade as business partners must spend the next three years in federal prison. John Jhong, 54, of Sparta, actually submitted bogus applications for more than $15 million in federal pandemic aid earmarked to help struggling companies during COVID-19, U.S. Attorney Philip R. Sellinger said. Jhong "turned these vital relief programs into his personal ATM," spending the more than $2 million he illegally collected on personal expenses, the U.…
Business
NJ COVID Scammer Who Pocketed $1.8M In Taxpayer-Funded Rescue Loans Gets Three Years In Fed Pen
UPDATE: A North Jersey businessman who collected $1.8 million in COVID-19 pandemic loans that he wasn't entitled to, then diverted the money into accounts held by family members -- including his young children -- was sentenced to three years in federal prison on Wednesday. Rocco A. Malanga, 39, formerly of Hackettstown, must serve out the entire plea-bargained sentence approved by a U.S. District Court judge in Newark on March 22 because there’s no parole in the federal prison system. Malanga lied on documents to three different lenders to secure federal Paycheck Protection Program (PPP) mo…
News
Feds: Sussex Scammer Used Dead People’s Names To Collect $1.9M In COVID Relief
A Sussex County scammer identified people who’d been dead for years as business partners to help collect $1.9 million from the federal fund established to help struggling companies during COVID-19, authorities charged. John Jhong, 51, of Sparta, also submitted phony IRS documents with bogus Paycheck Protection Program applications to the lenders on behalf of 10 purported businesses, Acting U.S. Attorney Rachael A. Honig said. Jhong converted a portion of the money intended for distressed businesses into a cashier’s check “that was used to fund a business account,” Honig said. Congress a ye…
News
NJ
Covid-
19 Scammer Pocketed $1.8M In Taxpayer-Funded Rescue Loans, Feds Charge
A North Jersey businessman fraudulently secured nearly $2 million in federal COVID-19 pandemic loans he wasn't entitled to, then diverted the money into accounts held by family members, including his young children, federal authorities charged. Rocco A. Malanga, 48, of Hackettstown, “used a variety of false statements to fraudulently obtain approximately $1.8 million in federal COVID-19 emergency relief funds meant for distressed small businesses,” U.S. Attorney Craig Carpenito said Thursday. He then diverted the Paycheck Protection Program (PPP) money to “accounts under the control of his …