A Southern California man was arrested last week over charges of illegally obtaining $5 million in COVID-19 relief and spending it on lavish vacations and to buy a Ferrari, Bentley and Lamborghini.
Mustafa Qadiri, 38, was detained on suspicion of scheming to defraud the Paycheck Protection Program, which was implemented last year to help small businesses struggling during the novel coronavirus pandemic.
His charges include bank fraud, wire fraud, aggravated identity theft, and money laundering.
According to the indictment, the accused applied for the Payment Protection Program (PPP) loans in May and June of 2020 and submitted falsified documents to three different banks, claiming to operate four businesses, that didn’t actually exist.
He provided the banks with false employee records, tampered bank account balances, and fake tax returns.
Federal agents have seized three luxury sports cars allegedly purchased by Mustafa Qadiri, 38, of Irvine, with fraudulently obtained COVID-19 Payment Protection Program (PPP) loans. pic.twitter.com/MIdkjFeZx2
— US Attorney L.A. (@USAO_LosAngeles) May 7, 2021
Prosecutors said that Mustafa used someone else’s name, Social Security number and signature to fraudulently apply for one of the loans.
He received total $5 million and used to pay for trips, sports cars and personal expenses.
However, federal agents have seized the Ferrari, Bentley and Lamborghini cars that along with about $2 million from his bank accounts.
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