Justice Department indicts Minnesota contractor for $841K PPP loan fraud

Dive Brief:

  • The U.S. Division of Justice (DOJ)  has indicted a St. Paul, Minnesota, contractor for allegedly defrauding the Paycheck Defense Software, a exclusive limited personal loan initiative meant to supply money aid to organizations negatively impacted by the COVID-19 pandemic. 
  • U.S. Legal professional Erica H. MacDonald explained in a statement that Kyle William Brenizer applied for and acquired an $841,000 PPP personal loan less than the name of his defunct construction company, Real-Slash Construction LLC. 
  • As section of the PPP application method, prosecutors allege that Brenizer submitted untrue employee and price information and facts, as well as fraudulent money and tax paperwork, and then transferred $650,00 into a bank account unrelated to Real-Slash. 

Dive Insight:

Brenizer also allegedly failed to disclose on the PPP application, as demanded, that he has numerous felony fees pending versus him for look at forgery, determine theft and theft by swindle. Penalties for knowingly

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