North Texas Businessman Dinesh Sah Gets 11+ Years In Prison For $24M COVID-19 Relief Scheme

[tennisluvrredux]

Dinesh Sah, 55, of Coppell, pleaded guilty on March 24.

Dinesh Sah

U.S. District Judge Karen Gren Scholer, sentenced Sah and also ordered him to pay $17,284,649.79 in restitution.

According to court documents, Sah submitted 15 fraudulent applications, filed under the names of various purported businesses that he owned or controlled, to eight different lenders seeking approximately $24.8 million in PPP loans.

He claimed that these businesses had numerous employees and hundreds of thousands of dollars in payroll expenses when, in fact, no business had employees or paid wages consistent with the amounts claimed in the PPP applications.

Sah further submitted fraudulent documentation in support of his applications, including fabricated federal tax filings and bank statements for the purported businesses, and falsely listed other persons as the authorized representatives of certain of these businesses without the authority to use their identifying information on the applications.

“Congress passed the Paycheck Protection Program to help struggling businesses stay afloat, not to fund faux entrepreneurs’ luxury lifestyles,” said Acting U.S. Attorney Prerak Shah. “Even as COVID-19 devastated companies around the nation, Mr. Sah sapped millions of dollars from the relief fund that could have helped them. He exploited the pandemic for personal gain, and we are proud to hold him accountable.”

“Today’s sentence serves as a clear reminder that individuals who exploit COVID-relief programs to enrich themselves will be held accountable under the law,” said Assistant Attorney General Kenneth A. Polite Jr. “The Department of Justice and its law enforcement partners remain committed to aggressively pursuing and bringing to justice those who steal federal funds intended to help legitimate small businesses.”

Based upon his false statements and fabricated documents, Sah received over $17 million in PPP loan funds and diverted the proceeds for his personal benefit, using them to purchase multiple homes in Texas, pay off the mortgages on other homes in California, and buy a fleet of luxury cars, including a Bentley convertible, Corvette Stingray, and Porsche Macan.

Sah also sent millions of dollars in PPP proceeds in international money transfers. As part of his guilty plea, Sah agreed to forfeit, among other property, eight homes, six luxury vehicles, and more than $9 million in fraudulent proceeds that the government has seized to date.

“This sentencing serves as a deterrent to all who would attempt to commit fraud against any of the COVID-19 relief programs,” said Special Agent in Charge Christopher J. Altemus Jr. of the IRS – Criminal Investigation Dallas Field Office. “These programs are here to help during a pandemic, not for fraudsters like Sah to take advantage of for their own personal gain.”

[Casper]

[Spartan]

Texas lo desi restaurant owners minted millions

are they in line next.?

[jiggubhai]

12 minutes ago, Spartan said:

Texas lo desi restaurant owners minted millions

are they in line next.?

 they atleast have a business.. tappinchukovadaniki atleast try anna cheyocchu.. ee dinesh gadu addanga dorikipoyadu

[jiggubhai]

25 minutes ago, tennisluvrredux said:

Dinesh Sah, 55, of Coppell, pleaded guilty on March 24.

Dinesh Sah

U.S. District Judge Karen Gren Scholer, sentenced Sah and also ordered him to pay $17,284,649.79 in restitution.

According to court documents, Sah submitted 15 fraudulent applications, filed under the names of various purported businesses that he owned or controlled, to eight different lenders seeking approximately $24.8 million in PPP loans.

He claimed that these businesses had numerous employees and hundreds of thousands of dollars in payroll expenses when, in fact, no business had employees or paid wages consistent with the amounts claimed in the PPP applications.

Sah further submitted fraudulent documentation in support of his applications, including fabricated federal tax filings and bank statements for the purported businesses, and falsely listed other persons as the authorized representatives of certain of these businesses without the authority to use their identifying information on the applications.

“Congress passed the Paycheck Protection Program to help struggling businesses stay afloat, not to fund faux entrepreneurs’ luxury lifestyles,” said Acting U.S. Attorney Prerak Shah. “Even as COVID-19 devastated companies around the nation, Mr. Sah sapped millions of dollars from the relief fund that could have helped them. He exploited the pandemic for personal gain, and we are proud to hold him accountable.”

“Today’s sentence serves as a clear reminder that individuals who exploit COVID-relief programs to enrich themselves will be held accountable under the law,” said Assistant Attorney General Kenneth A. Polite Jr. “The Department of Justice and its law enforcement partners remain committed to aggressively pursuing and bringing to justice those who steal federal funds intended to help legitimate small businesses.”

Based upon his false statements and fabricated documents, Sah received over $17 million in PPP loan funds and diverted the proceeds for his personal benefit, using them to purchase multiple homes in Texas, pay off the mortgages on other homes in California, and buy a fleet of luxury cars, including a Bentley convertible, Corvette Stingray, and Porsche Macan.

Sah also sent millions of dollars in PPP proceeds in international money transfers. As part of his guilty plea, Sah agreed to forfeit, among other property, eight homes, six luxury vehicles, and more than $9 million in fraudulent proceeds that the government has seized to date.

“This sentencing serves as a deterrent to all who would attempt to commit fraud against any of the COVID-19 relief programs,” said Special Agent in Charge Christopher J. Altemus Jr. of the IRS – Criminal Investigation Dallas Field Office. “These programs are here to help during a pandemic, not for fraudsters like Sah to take advantage of for their own personal gain.”

banian lo photo digadu enti.. drawer meeda kursobettara veedini?

[hunkyfunky2]

17 minutes ago, Spartan said:

Texas lo desi restaurant owners minted millions

are they in line next.?

Nope, if they have running business then they are good. IT mestris minted millions too

[pakeer_saab]

39 minutes ago, tennisluvrredux said:

Dinesh Sah, 55, of Coppell, pleaded guilty on March 24.

Dinesh Sah

U.S. District Judge Karen Gren Scholer, sentenced Sah and also ordered him to pay $17,284,649.79 in restitution.

According to court documents, Sah submitted 15 fraudulent applications, filed under the names of various purported businesses that he owned or controlled, to eight different lenders seeking approximately $24.8 million in PPP loans.

He claimed that these businesses had numerous employees and hundreds of thousands of dollars in payroll expenses when, in fact, no business had employees or paid wages consistent with the amounts claimed in the PPP applications.

Sah further submitted fraudulent documentation in support of his applications, including fabricated federal tax filings and bank statements for the purported businesses, and falsely listed other persons as the authorized representatives of certain of these businesses without the authority to use their identifying information on the applications.

“Congress passed the Paycheck Protection Program to help struggling businesses stay afloat, not to fund faux entrepreneurs’ luxury lifestyles,” said Acting U.S. Attorney Prerak Shah. “Even as COVID-19 devastated companies around the nation, Mr. Sah sapped millions of dollars from the relief fund that could have helped them. He exploited the pandemic for personal gain, and we are proud to hold him accountable.”

“Today’s sentence serves as a clear reminder that individuals who exploit COVID-relief programs to enrich themselves will be held accountable under the law,” said Assistant Attorney General Kenneth A. Polite Jr. “The Department of Justice and its law enforcement partners remain committed to aggressively pursuing and bringing to justice those who steal federal funds intended to help legitimate small businesses.”

Based upon his false statements and fabricated documents, Sah received over $17 million in PPP loan funds and diverted the proceeds for his personal benefit, using them to purchase multiple homes in Texas, pay off the mortgages on other homes in California, and buy a fleet of luxury cars, including a Bentley convertible, Corvette Stingray, and Porsche Macan.

Sah also sent millions of dollars in PPP proceeds in international money transfers. As part of his guilty plea, Sah agreed to forfeit, among other property, eight homes, six luxury vehicles, and more than $9 million in fraudulent proceeds that the government has seized to date.

“This sentencing serves as a deterrent to all who would attempt to commit fraud against any of the COVID-19 relief programs,” said Special Agent in Charge Christopher J. Altemus Jr. of the IRS – Criminal Investigation Dallas Field Office. “These programs are here to help during a pandemic, not for fraudsters like Sah to take advantage of for their own personal gain.”

daily south indian  meeda edustaaru fake ani, most of those caught doing crime are northies

[kevinUsa]

9 minutes ago, pakeer_saab said:

daily south indian  meeda edustaaru fake ani, most of those caught doing crime are northies

100%%

[TrishaManiac]

well done...happy for him.

[Thokkalee]

49 minutes ago, pakeer_saab said:

daily south indian  meeda edustaaru fake ani, most of those caught doing crime are northies

Why bring region in here? He did something bad and he will face the punishment.. 

[TrishaManiac]

17 minutes ago, Thokkalee said:

Why bring region in here? He did something bad and he will face the punishment.. 

we must expose north indians as we, the south indians, are pathith pavanas

[Sucker]

Dhorikithe andaru dhongalu e dhandha la. Ee thingarodu dhorikaadu. Iyyala oka FL thellodiki kuda 10 years jail anukunta idhe dhandha la

[yemdoing]

@tennisluvrredux desi frauds mida paga pattav ga . 

[r2d2]

6 minutes ago, Sucker said:

Iyyala oka FL

Florida Woman Convicted of COVID-19 Relief Fraud

A federal jury convicted a Florida woman on Nov. 24 for fraudulently obtaining a Paycheck Protection Program (PPP) loan guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

According to court documents and evidence presented at trial, Keyaira Bostic, 32, of Pembroke Pines, obtained a PPP loan of $84,515 for her company, I Am Liquid Inc., based on false information about the company’s number of employees and average payroll, and based on false supporting tax and bank documents. Bostic also paid more than $21,000 to an alleged co-conspirator, James Stote, as a kickback for his assistance in preparing and submitting the fraudulent loan application. The evidence also showed that Bostic, in exchange for kickbacks, referred other co-conspirators to the scheme on whose behalf Stote submitted fraudulent PPP loan applications. Those loan applicants sought more than $3.3 million in fraudulent PPP loans and obtained nearly $2 million in PPP loan proceeds.

Bostic was convicted of conspiracy to commit bank fraud and wire fraud and three counts of wire fraud. She was found not guilty of bank fraud. She is scheduled to be sentenced on Feb. 3, 2022, and faces a maximum penalty of 20 years in prison for each count of conviction. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

[Sucker]

MAN WHO STOLE $1.6 MILLION IN CARES ACT MONEY FOR LAVISH SPENDING SPREE GETS 9 YEAR SENTENCE

Among the things Lee Price III bought with the $1.6 million were a Lamborghini, a Ford F-350 truck, and a Rolex watch