==Engineer Charged in Texas with COVID-Relief Fraud
Texas Engineer Fraudulently Sought More than $10 Million in CARES Act SBA Paycheck Protection Loans==
An engineer has been charged in the Eastern District of Texas with allegedly filing bank loan applications fraudulently seeking more than $10 million dollars in forgivable loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Shashank Rai, 30, of Beaumont, Texas, allegedly sought millions of dollars in forgivable loans guaranteed by the SBA from two different banks by claiming to have 250 employees earning wages when, in fact, no employees worked for his purported business.
Rai is charged by way of a federal criminal complaint with violations of wire fraud, bank fraud, false statements to a financial institution, and false statements to the SBA.
https://www.justice.gov/opa/pr/engineer-charged-texas-covid-relief-fraud