According to court documents, these individuals conspired with others to fraudulently obtain PPP loans by providing false information about their businesses in loan applications. They manipulated the numbers of employees and average monthly payroll expenses, and even submitted fraudulent bank records and fake federal tax forms to support their applications
Six men from Texas received their sentences for participating in a scheme to fraudulently obtain over $20 million in forgivable loans from the Paycheck Protection Program (PPP). This program, guaranteed by the Small Business Administration (SBA) under the CARES Act, was designed to provide financial relief during the COVID-19 pandemic.
“During a time of unprecedented national peril, these defendants took advantage of a pandemic and stole millions of dollars in federal funds intended to help businesses keep their employees paid and their doors open,” said Acting Assistant Attorney General Nicole M. Argentieri of the Justice Department’s Criminal Division. “The sentences demonstrate that the Department and law enforcement have and will continue to hold individuals accountable for committing fraud on the government.”
“I salute the prosecutors and agents who exposed this fraud ring, brought these defendants to justice, and worked to return stolen funds to the American people,” said Director of COVID-19 Fraud Enforcement Michael Galdo of the Justice Department. “The Department will continue to work with our law enforcement partners to bring those who committed pandemic benefit fraud to justice and use all appropriate tools to recover stolen pandemic relief funds.”
Amir Aqeel (the crew's boss), a resident of Houston named in court documents, has been handed a 15-year prison sentence and ordered to forfeit a staggering $5,583,111.48. This severe punishment comes as a result of his leadership in a conspiracy involving at least 14 other individuals. Together, they deceitfully submitted 75 fraudulent PPP loan applications in 2020.
“Amir Aqeel engaged in one of the largest PPP conspiracies in the country,” said U.S. Attorney Alamdar S. Hamdani for the Southern District of Texas. “He and his cohorts stole millions from the public fund, using that money to buy houses, a Porsche, even a Lamborghini, all while taking advantage of programs intended to help those struggling during the pandemic. These sentences send a strong message to scammers looking for a quick and easy buck in the Southern District of Texas; you need to look elsewhere.”
The defendants went to great lengths to falsify the number of employees and average monthly payroll expenses of the businesses applying for the loans. They even resorted to submitting fake bank records and federal tax forms to support their deceitful applications. As if that wasn't enough, Aqeel also paid substantial kickbacks to some of the defendants in exchange for their assistance in this web of lies and fraud.
“SBA-OIG will aggressively root out bad actors in SBA’s pandemic response programs and bring them to justice,” said Special Agent in Charge Brady Ipock of the SBA Office of Inspector General (SBA-OIG) Central Region. “These sentences demonstrate there are significant consequences for conspiring to fraudulently access SBA programs and steal from taxpayers. I want to thank the U.S. Attorney’s office and our law enforcement partners for their support and dedication to pursuing justice in this case.”
“One unfortunate aspect of the pandemic relief programs has been how many people and institutions, including the Federal Home Loan Banks, were negatively affected by unscrupulous criminals who targeted a program meant to help all Americans at a critical time,” said Special Agent in Charge Catherine Huber of the Federal Housing Finance Agency Office of Inspector General’s (FHFA-OIG) Central Region. “We are proud to work with our partner agencies to investigate and stamp out these schemes.”
Hamza Abbas, Ammas Uddin, and Arham Uddin, all from Richmond, were sentenced to varying prison terms of three years and eight months, one year and six months, and one year and six months, respectively. Syed Ali from Sugar Land received a two-year prison sentence, while Muhammad Anis and Jesus Acosta Perez from Houston were sentenced to one year and nine months and one year and one day in prison, respectively. It is important to note that all six defendants had previously pleaded guilty.
“Today, Aqeel and six of his co-conspirators in this case were brought to justice for their roles in a fraudulent scheme that swindled millions of dollars from the Paycheck Protection Program, which was created to assist struggling businesses during the COVID-19 pandemic,” said Special Agent in Charge Anand Ramlall of the Federal Deposit Insurance Corporation Office of Inspector General (FDIC-OIG) Dallas Region. “The FDIC-OIG, working with our law enforcement partners, will continue to pursue and hold accountable those who took advantage of these programs and threatened to undermine the integrity of our nation’s banking system.”
“The Treasury Inspector General for Tax Administration continues to aggressively pursue those who endeavor to defraud programs afforded to the American people under the CARES Act,” said Special Agent in Charge Gary Smith of the Treasury Inspector General for Tax Administration (TIGTA) Gulf States Field Division. “We appreciate the efforts of the Justice Department and our law enforcement partners in this effort.”
According to court documents, these individuals conspired with others to fraudulently obtain PPP loans by providing false information about their businesses in loan applications. They manipulated the numbers of employees and average monthly payroll expenses, and even submitted fraudulent bank records and fake federal tax forms to support their applications. Additionally, Abbas recruited others into the scheme and created fraudulent bank records in exchange for kickbacks.
To further conceal their illicit activities, the defendants laundered a portion of the fraudulent funds by issuing checks from companies that had received PPP loans to fictitious employees. These fake paychecks were then cashed at specific cash checking businesses, including one owned by another co-conspirator.
In a separate case earlier this year, three individuals who had also pleaded guilty were sentenced for their involvement in the loan fraud scheme. Raheel Malik from Sugar Land received a one-year and six-month prison sentence, Nishant Patel from Houston received a two-year prison sentence, and Harjeet Sing from Katy received a five-year prison sentence.
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