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Small Business Administration Office of the Inspector General

Police & Fire
Feds Pursue Bank Accounts, Mansion Bought By Bergen Lawyer With $9M In COVID Relief Funds Feds Pursue Bank Accounts, Mansion Bought By Bergen Lawyer With $9M In COVID Relief Funds
Feds Pursue Bank Accounts, Mansion Bought By Bergen Lawyer With $9M In COVID Relief Funds Federal authorities have moved to seize 11 bank accounts, an investment account and a million-dollar Cresskill home bought by a Cliffside Park lawyer accused of scamming lenders out of $9M intended for small businesses crippled by COVID-19. Jae H. Choi, 48, got the Paycheck Protection Program (PPP) funds from three lenders on behalf of non-existent businesses that he claimed provided educational services, an indictment returned by a grand jury in U.S. District Court in Newark alleges. Choi fabricated the existence of hundreds of employees, manipulated bank and tax records, and falsified a d…

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by Jerry DeMarco
Police & Fire
NJ: Cliffside Park Lawyer Created Fake Companies, Got $9 Million In COVID Loans, Bought Mansion NJ: Cliffside Park Lawyer Created Fake Companies, Got $9 Million In COVID Loans, Bought Mansion
NJ: Cliffside Park Lawyer Created Fake Companies, Got $9 Million In COVID Loans, Bought Mansion A Cliffside Park lawyer scammed lenders out of $9M in COVID-relief loans by creating records for bogus businesses he claimed to control, then spent the money on a $1 million home in Cresskill and millions more in stock market investments, authorities charged. Jae H. Choi, 48, “fabricated the existence of hundreds of employees, manipulated bank and tax records, and falsified a driver’s license on the applications,” U.S. Attorney Craig Carpenito said. Choi told the lenders that he paid $3 million in monthly wages to hundreds of employees in the non-existent companies, Carpenito said. Lenders…

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by Jerry DeMarco