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, age 36, will spend three years in federal prison for fraudulently obtaining over $124,000 in loans meant to help businesses struggling due to the COVID-19 pandemic.
Photo Credit: *Canva/Industrial Photograph*

Michael Mashburn

09/04/2023 10:30 a.m.

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).

In order to obtain the loan, he falsely claimed on an application that he owned a business that did not actually exist, prosecutors said.

Once the money was in hand, Mozone blew it on personal expenses, including nearly $10,000 in jewelry and a trip to Atlantic City, New Jersey.

In addition to his time in federal prison, he must also complete three years of post-release supervision and pay $43,378 in restitution to the SBA.

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