A former Massachusetts resident was arrested at Miami International Airport for fraudulently filing Covid-relief loans.
According to the Department of Justice in Boston, 34-year-old Vinicius Santana of Boca Raton, Florida, was charged with wire fraud. He was arrested Monday at Miami International Airport.
Santana is the owner of Complete Home Care, LLC (CHC), a painting company in Massachusetts. It is alleged that he filed four fraudulent loan applications to obtain $2.5 million in Paycheck Protection Program (PPP) loan funds under the Coronavirus Aid, Relief and Economic Security (CARES) Act.
The charging documents indicate that the first three applications were denied. Santana allegedly listed five employees and an average monthly payroll of between $10,000 and $18,000. In the fourth application, Santana allegedly falsely claimed to have 154 employees and an average monthly payroll of $1 million. His company was issued $2,500,000 on May 11, 2020.
Santana used the money to buy cars and invest in cryptocurrency allegedly. The CARES Act provides emergency financial assistance to those suffering the economic effects caused by the coronavirus pandemic.
He faces up to 20 years in prison, three years of supervised release and a fine of $250,000, or twice the gross gain or loss from the scheme, whichever is greater, if found guilty.
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