Man jailed for 40 years after কো 9 million scandal over Covid-1 Rail Relief Inn

Wow! Talk about paying the price for coming fast. A man in California is spending serious time behind bars on charges of embezzling nearly নয় 9 million from the Covid-1 relief program. According to the Justice Department, Andrew Marnell of Los Angeles recently pleaded guilty to two federal charges for the scheme.

The judiciary will use every available federal tool যার including criminal, civil, and administrative measures োক to deal with and prevent fraud related to COVID-1.

In contrast to viral memes, Andrew’s PPP-funded assets are moving at his own pace. According to court documents, the 41-year-old told police he fraudulently collected coins from seven pay-roll protection programs (PPPs). To qualify, Andrew submitted an application containing “false and misleading statements” about the business activities and salary costs of various companies.

Andrew flew under the radar of suspicion using nicknames and forged and altered documents. Pathways to the paperwork include “fake federal tax filings and employees’ pay lists.”

After securing loans, he reportedly transferred millions to his brokerage account “to make risky stock market bets”. Not only that, Andrew has spent thousands of dollars on “gambling establishments”.

According to Newsweek, the Small Business Administration is responsible for establishing the PPP in March 2020 through the Coronavirus Assistance, Relief and Economic Security Act (CARES). Their goal was to grow the company by an epidemic with 500 employees or fewer, nonprofits and sole proprietors.

In addition to PPP loans, the CARE Act provides financing through the Financial Injury Disaster Loan Program (EIDL). Andrew didn’t miss the extra chance to cash out. He is also reported to have received ,000 170,000 in EIDL.

Still, Andrew’s scheme led to a plea deal. He pleaded guilty to one count of bank fraud and one count of “involvement in financial transactions involving criminal earnings.” The first charge is a heavy heater, which means it comes with a “statutory maximum penalty of 30 years”. Meanwhile, the second charge “carries a statutory maximum penalty of 10 years.” Andrew’s sentence is set for February 14, 2022.

Under his application agreement, Andrew agreed to confiscate all items collected using PPP money. The list includes “$ 1.54 million seized from several brokerage accounts, $ 319,298 in cash recovered from his home, numerous electronic devices, a Rolex Oyster watch, a Range Rover and a Ducati motorcycle.”

“We look forward to working with our federal government colleagues to bring to justice those who seek to benefit illegally from the epidemic,” Attorney General Garland wrote.

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