NRI charged for covid 19 relief fund
Washington sources stated that an Indian-American owner of several information technology companies in the Chicago area has been charged with COVID-19 relief fraud running into USD400,000, federal prosecutors have said. rahul Shah (51) has been charged in a criminal complaint filed in the Northern district of Illinois with bank fraud and making false statements to a financial institution. An initial appearance in US district court in Chicago has not yet been scheduled.According to the complaint, Shah filed a bank loan application that fraudulently sought more than USD400,000 in a forgivable Paycheck Protection Program loan guaranteed by the Small business Administration under the coronavirus Aid, Relief, and Economic Security (CARES) Act.In support of the loan application, Shah allegedly caused to be submitted to the lender several false and fraudulent IRS documents, including IRS Forms 1099-MISC representing that the company made payments to several individuals who later confirmed to federal investigators that they had not received such payments.