Light Rain Fog/Mist 45°
Tag:

Paycheck Protection Program

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
Albany Restaurateur Pleads Guilty To Covid-19 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 $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 Fraud: Nurse Midwives From Capital Region Doled Out Phony Vaccination Cards, Feds Say COVID-19 Fraud: Nurse Midwives From Capital Region Doled Out Phony Vaccination Cards, Feds Say
Covid-19 Fraud: Nurse Midwives From Capital Region Doled Out Phony Vaccination Cards, Feds Say A pair of nurse midwives from New York is facing federal charges following a nationwide investigation into COVID-19 related fraud. Kelly McDermott, of Albany, and Kathleen Breault, of Cambridge in Washington County, were among five individuals to be charged for their alleged roles in separate schemes that fraudulently distributed more than 2,600 fake COVID-19 vaccination record cards, according to the US Attorney’s Office in the Eastern District. The investigation also uncovered more than $1.7 million in fraud involving the Paycheck Protection Program and the Economic Injury Disaster Loan …

SHARE

by Michael Mashburn
News
COVID-19: NY Woman Sentenced For $1.69M Relief Fraud COVID-19: NY Woman Sentenced For $1.69M Relief Fraud
Covid-19: NY 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
COVID-19: Capital District Man Sentenced For $144K Pandemic Relief Fraud COVID-19: Capital District Man Sentenced For $144K Pandemic Relief Fraud
Covid-19: Capital District Man Sentenced For $144K Pandemic Relief Fraud A Capital District man who admitted to taking advantage of COVID-19 relief programs is heading to federal prison. Rensselaer County resident Hector Sanchez, age 30, of Rensselaer, was sentenced to 70 months - or just under six years - behind bars Monday, July 25, in federal court in Albany. It followed his prior guilty plea in March 2022 to charges of defrauding pandemic-related unemployment insurance and small business loan programs. Federal prosecutors said Sanchez raked in more than $131,000 by submitting false unemployment insurance claims to the New York State Department of Labor usin…

SHARE

by Michael Mashburn
News
COVID-19: Capital District Woman Admits To Pandemic Relief Fraud COVID-19: Capital District Woman Admits To Pandemic Relief Fraud
Covid-19: Capital District Woman Admits To Pandemic Relief Fraud A woman from the Capital District is facing years in prison after admitting that she took advantage of loan programs meant to help businesses struggling due to the COVID-19 pandemic. Debra Hackstadt, age 67, of Albany, pleaded guilty Thursday, May 19, to fraudulently obtaining 32 government-backed loans, according to the US Attorney’s Office. The loans were issued to Hackstadt herself, various friends and relatives, and several companies that she controlled, prosecutors said. In all, investigators said she received more than $1.6 million between April 2020 and June 2021 through two separat…

SHARE

by Michael Mashburn