A federal grand jury returned an indictment yesterday charging a Raleigh man with defrauding the Paycheck Protection Program (PPP) for over $1 million. The indictment was unsealed recently.
“We are devoting more resources than ever to prosecuting white-collar fraud, especially on taxpayer-funded relief programs meant to serve the needy,” said U.S. Attorney Michael Easley. “Fairness in federally funded programs is fundamental to public trust and the rule of law.”
According to the indictment, Wilson Alfredo Olivera Borda, 44, received nine PPP loans in the names of five separate businesses—The Insurance Centers.Com Inc., The Insurance Centers LLC, Realty Vestors LLC, US-Kaizen LLC, and Ecobuild LLC—by allegedly falsely claiming on PPP applications that each business had substantial employees and operations.
The indictment alleges that Olivera bolstered these fraudulent misrepresentations by submitting fabricated tax returns to PPP lenders.
The indictment also alleges that Olivera made additional false statements to obtain forgiveness on the loans and that all nine loans were fully forgiven and paid off by the U.S. Small Business Administration.
Olivera is charged with nine counts of wire fraud involving disaster-related benefits.
If convicted, he faces a maximum of 30 years in prison.
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