A Canadian national residing in Florida has been sentenced to 10 years in prison for his role in an $8 million COVID-19 fraud scheme, the U.S. Department of Justice announced.
Fraud Details
The individual, whose name has not been disclosed, pleaded guilty to wire fraud and money laundering. He submitted fraudulent applications for Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) funds, using shell companies and fake employee records.
The scheme netted over $8 million, which the defendant used to purchase luxury vehicles, real estate, and other high-value items. Authorities seized assets including a waterfront property and several vehicles.
Investigation and Sentencing
The case was investigated by the FBI and IRS Criminal Investigation. The sentence was handed down in a federal court in Miami. In addition to prison time, the defendant must forfeit the proceeds and pay restitution.
This case is part of a broader crackdown on COVID-19 relief fraud, which has seen hundreds of prosecutions nationwide.
