Fair 73°
Tag:

US Small Business Administration

News
$1.7M COVID-19 Fraud Scheme: NY Daughter, Mom Who Worked For Police Sentenced $1.7M COVID-19 Fraud Scheme: NY Daughter, Mom Who Worked For Police Sentenced
$1.7M Covid-19 Fraud Scheme: NY Daughter, Mom Who Worked For Police Sentenced A mother-daughter duo has been sentenced to prison for defrauding the government of approximately $1.7 million.  Westchester County residents Alicia Ayers and her mother, Andrea Ayers, both of Mount Vernon, were found guilty of submitting more than 300 fraudulent applications for US Small Business Administration Economic Injury Disaster Loans.  Andrea Ayers was a former Code Enforcement Officer for the City of Mount Vernon Police Department. In response to the COVID-19 pandemic, Congress expanded the SBA’s Economic Injury Disaster Loan (EIDL) Program to provide low-interest …

SHARE

by Joe Lombardi
News
COVID-19: Restaurateur From Capital Region Admits To $163K Pandemic Relief Fraud COVID-19: Restaurateur From Capital Region Admits To $163K Pandemic Relief Fraud
Covid-19: Restaurateur From Capital Region Admits To $163K Pandemic Relief Fraud A former restaurant owner in the region raked in six figures by defrauding a relief program meant to help businesses impacted by COVID-19. Scott Solomon, age 37, of Albany, pleaded guilty to two counts of bank fraud in Albany federal court on Monday, Dec. 11. According to prosecutors, he admitted to applying for and obtaining Paycheck Protection Program (PPP) loans in 2020 for two Saratoga Springs restaurants that he formerly operated. PPP loans were issued by financial institutions in 2020 and 2021 and guaranteed by the US Small Business Administration. Funds were meant to help businesses…

SHARE

by Michael Mashburn
News
COVID-19 Fraud: Capital Region Man Gets Prison Time For $125K Loan Scheme COVID-19 Fraud: Capital Region Man Gets Prison Time For $125K Loan Scheme
Covid-19 Fraud: Capital Region Man Gets Prison Time For $125K Loan Scheme After bilking the federal government out of more than $100,000 through a fraudulently obtained loan, a 36-year-old man from the region is heading to prison. Christopher Mozone, of Albany, was sentenced to 3 ½ years behind bars in Albany federal court on Thursday, Aug. 31. It followed his guilty plea to wire fraud stemming from a government loan he received that was meant to help businesses struggling due to the effects of the COVID-19 pandemic. According to prosecutors, Mozone admitted to obtaining a $124,800 Economic Injury Disaster Loan from the US Small Business Administration (SBA). I…

SHARE

by Michael Mashburn
News
COVID-19 $558K Scam: Former Nightclub Owners In Capital Region Admit Defrauding Relief Programs COVID-19 $558K Scam: Former Nightclub Owners In Capital Region Admit Defrauding Relief Programs
Covid-19 $558K Scam: Former Nightclub Owners In Capital Region Admit Defrauding Relief Programs A husband and wife duo from the region accused of raking in hundreds of thousands of dollars by defrauding COVID-19 relief programs through their former nightclub business has pleaded guilty. Saratoga County residents Deborah Budhraj, age 52, and Adesh Budhraj, age 53, both of Ballston Lake, pleaded guilty to bank fraud and wire fraud charges in federal court in Albany on Wednesday, July 19. The couple formerly owned the Tropics Restaurant & Bar, located in Schenectady on South Brandywine Avenue. According to prosecutors, they agreed to sell the business to another couple in February 2…

SHARE

by Michael Mashburn
News
COVID-19: Capital Region Woman Sentenced For $1.69M Relief Fraud COVID-19: Capital Region Woman Sentenced For $1.69M Relief Fraud
Covid-19: Capital Region Woman Sentenced For $1.69M Relief Fraud A New York woman will spend time in federal prison after admitting that she took advantage of loan programs meant to help businesses struggling due to the COVID-19 pandemic. Debra Hackstadt, age 68, of Albany, was sentenced to 16 months behind bars Tuesday, Nov. 8, in federal court in Albany after pleading guilty to wire fraud in May 2022. Earlier Report: COVID-19: Albany Woman Pleads Guilty To Pandemic Relief Fraud According to the US Attorney’s Office in the Northern District, Hackstadt admitted to fraudulently obtaining 32 government-backed loans worth more than $1.6 million betwee…

SHARE

by Michael Mashburn
News
Man From Region Charged For $1.6 Million Fraud Scheme Man From Region Charged For $1.6 Million Fraud Scheme
Man From Region Charged For $1.6 Million Fraud Scheme A man from the region has been charged in connection to a scheme to defraud the US Small Business Administration of more than $1.6 million in COVID-19 relief funds, federal authorities announced. An indictment outlining the charge against Rockland County resident Elizier Scher, age 33, of Spring Valley, were unsealed on Thursday, June 9 at White Plains federal court after his arrest earlier in the morning, Damian Williams, the US Attorney for the Southern District of New York, and Michael J. Driscoll, the Assistant Director-in-Charge of the New York Office of the FBI, announced. The SB…

SHARE

by Joe Lombardi