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Economic Injury Disaster Loan Program

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COVID-19: John Gotti's Long Island Grandson Admits To $1M Relief Fraud COVID-19: John Gotti's Long Island Grandson Admits To $1M Relief Fraud
Covid-19: John Gotti's Long Island Grandson Admits To $1M Relief Fraud A New York man with ties to the Mafia formally confessed to a million-dollar COVID-19 relief fraud scheme. Long Island resident Carmine Agnello, age 38, of Smithtown, pleaded guilty to wire fraud in Central Islip federal court on Thursday, Sept. 26. Agnello is the grandson of the late John Gotti, former boss of the Gambino organized crime family. According to prosecutors, between April 2020 and November 2021, he fraudulently applied for, and received, at least three small business loans under the US Small Business Administration’s Economic Injury Disaster Loan Program (EIDLP). The program…

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by Michael Mashburn
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$1.7M COVID-19 Fraud Scheme: Westchester Daughter, Mom Who Worked For Police Sentenced $1.7M COVID-19 Fraud Scheme: Westchester Daughter, Mom Who Worked For Police Sentenced
$1.7M Covid-19 Fraud Scheme: Westchester 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 …

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by Joe Lombardi
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COVID-19: Ex-Court Officer From Valley Stream Sentenced For $770K Loan Fraud Scheme COVID-19: Ex-Court Officer From Valley Stream Sentenced For $770K Loan Fraud Scheme
Covid-19: Ex-Court Officer From Valley Stream Sentenced For $770K Loan Fraud Scheme Two former government employees from Long Island will spend more than a year in federal lockup for defrauding loan programs meant to help businesses impacted by the COVID-19 pandemic. Arthur Cornwall, age 43, of Babylon, and Sean Williams, age 42, of Valley Stream, were each sentenced to 18 months in prison in Central Islip federal court on Wednesday, March 20, after pleading guilty to wire fraud. Prosecutors said Cornwall, a former signal maintainer with the New York City Transit Authority, and Williams, a former New York State Court officer, received nearly $770,000 in small business loan…

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by Michael Mashburn
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$9.5 Million Fraud: Long Island Man Admits Using Fake Companies In Scheme $9.5 Million Fraud: Long Island Man Admits Using Fake Companies In Scheme
$9.5 Million Fraud: Long Island Man Admits Using Fake Companies In Scheme A Long Island man who is accused of using fake businesses to defraud over $9 million from federal disaster relief funds has pleaded guilty, authorities announced. On Friday, July 14, the Eastern District of New York (EDNY) of the US Attorney’s Office announced Rami Saab’s guilty plea to charges of conspiracy to commit wire fraud. Saab, a 44-year-old from Glen Cove, was accused of stealing $9.5 million from banks and the Small Business Association (SBA) over the course of one year by creating fake companies so that he could claim COVID-19 relief loans. According to the charges, between M…

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by Sophie Grieser
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COVID-19: NY Doctor Sentenced For Using $3M In Fraudulently Obtained Loans On Luxury Items COVID-19: NY Doctor Sentenced For Using $3M In Fraudulently Obtained Loans On Luxury Items
Covid-19: NY Doctor Sentenced For Using $3M In Fraudulently Obtained Loans On Luxury Items A New York doctor will spend time behind bars after being sentenced for spending millions of dollars obtained through fraudulently obtained small business loans during the pandemic in an effort to live a luxury lifestyle. Long Island resident Konstantinos Zarkadas, who had a Nassau County practice in Glen Cove, was sentenced in federal court to 51 months in prison for fraudulently obtaining millions of dollars in COVID-19 emergency relief funds. In addition to his prison term, Zarkadas was also ordered to pay approximately $3.5 million in restitution after pleading guilty in November 2021 t…

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by Zak Failla
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COVID-19: NY Doctor Admits To Using $3M In Fraudulently Obtained Loans To Purchase Luxury Items COVID-19: NY Doctor Admits To Using $3M In Fraudulently Obtained Loans To Purchase Luxury Items
Covid-19: NY Doctor Admits To Using $3M In Fraudulently Obtained Loans To Purchase Luxury Items A New York doctor has admitted to using more than $3 million in fraudulently obtained small business loans to purchase a yacht and other luxury items, federal authorities announced. Long Island resident Konstantino Zarkadas, a Nassau County-based medical doctor in Glen Cove, pleaded guilty to disaster relief fraud and wire fraud in connection with his receipt of millions of dollars in small business loans under the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan Program (EIDLP) on Friday, Nov. 12 in Central Islip. When sentenced, Zarkadas faces up to 30 years in pri…

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by Joe Lombardi