Six in Puerto Rico indicted in $9M scheme targeting US funds. A federal grand jury in Puerto Rico has indicted six people in an alleged fraudulent scheme involving $9 million in government pandemic funds, officials said Wednesday.
The suspects, including a banker, face charges including wire fraud and money laundering, the U.S. Attorney’s Office said.
“This case demonstrates the brazenness with which the defendants took advantage of federal programs meant to help businesses that were severely affected by the COVID-19 pandemic,” U.S. Attorney Stephen Muldrow said.
Authorities accused the suspects of submitting more than 270 loan applications from April 2020 to April 2023 using fake IDs, tax documents, payroll records and bank records to illegally obtain federal recovery funds.
Officials said the U.S. government seized nearly $850,000 in proceeds of the alleged scheme from an unnamed bank where one of the suspects worked.
Six in Puerto Rico indicted in $9M scheme targeting US funds