Thomas sentencing is set for September 15. Three-State Ring (Georgia, Ohio and California August 6), 32. Its alleged they falsely claimed to have dozens of workers at 4 different businesses, including a restaurant neither owned. Prominent CEO of Hawaii Government Contractor (Hawaii -September 30), 55. 2023 Cox Media Group. Depending on the charges, penalties could include up to $1 million in fines and up to 30 years in prison, legal experts say. The maximum PPP loan is based on 20.83% of your Schedule C income. Man Sends Money to Pakistan and Books Flight (New Jersey December 15), 72. A few individuals will be arrested stripped of their material things. He allegedly obtained $200,000 in Paycheck Protection Program and Economic Injury Disaster loans and used the cash for personal expenses. Hopefully someone will find this. Lock Feel free to share this infographic (attribution required) on your own site by copying and pasting the code below: Could these prosecutions involve nothing more than paperwork mistakes? Richard B. Russell Federal Building Under the terms of the program, for example, companies must represent that: During a federal PPP loan fraud audit or investigation, federal agents will not just be looking to assess loan recipients eligibility, but they will also be looking to determine whether companies have documentation on hand to qualify the representations they made in their PPP loan applications. The above numbers are through January 2021, and new instances are being announced regularly. Below are some red flags that could trigger an investigation. Applied for PPP Loan While out on Bail (Tennessee November 9), 64. All information on this website has been prepared for informational purposes only and does not constitute legal advice. Another report by the SBA OIG found tens of thousands of examples of companies that received PPP loans ineligibly. He got up to $5.7 million in loans. He was arrested after he booked a same-day flight to Pakistan. Nationwide Federal Defense, Compliance and Litigation. 43. Man Under Indictment (Wisconsin July 8), 21. The PPP loan applications reported that each business had between 59 and 69 employees and approximately $295,000 to $342,000 in average monthly payroll expenses. The PPP allows the interest and principal on the PPP loan to be entirely forgiven if the business spends the loan proceeds on these expense items within a designated period of time and uses a certain percentage of the PPP loan proceeds for payroll expenses. The OMelveny law firm noted: if history is a guide, DOJ will use its leverage over institutions that processed the loans to do the governments initial work of identifying potential irregularities in loan applications. Celebrities, entertainers and business leaders are among 19 people recently indicted in Georgia on charges that they defrauded the Paycheck Protection Program for a total of more than $3 million. Rodericque Thompson allegedly recruited Micah Baisden, Travis Crosby, Keith Maloney, Tabronx Smith, and Thomas Wilson to apply for PPP loans on behalf of their respective business, per law enforcement. Forged account statements. PPP Loan Recipient List By State Georgia 553,322 TOTAL PPP LOANS $24.9B TOTAL LOAN AMOUNT $44,956 AVERAGE PPP LOAN 5 AVG COMPANY SIZE Georgia has a total of 553,322 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration. Robert, youre probably right about finding fraud for years to come. The PPP promissory note you signed will have the terms applicable to you. Official websites use .gov If you got funding after June 5, you have five years to repay. 5 Places To Swim In Atlanta A Swimming Activity Of Every Kind, The 5 Best Atlanta Facebook Groups To Follow ASAP, Adarin Jones, a/k/a Adrian Jones, 42, of Atlanta, GA. Victor Montgomery, 43, of Washington, D.C. Ganell Tubbs, the entrepreneur owner of Little Piglet Soap Company and Suga Girl Customs, an Etsy shop, is charged with fraudulently obtaining nearly $2 million in PPP loan. Handmade Entrepreneur (Arkansas July 16), 27. Sutukh El even posted a rap video holding a large amount of $100 bills after he had made a cash withdrawal, having received this $600,000 plus. Government officials have seized more than $400,000. A pair of Georgia businesses are in hot water over fraud allegations related to their PPP loans. After obtaining a second search warrant for the cell phones, USPIS inspectors uncovered hundreds of text messages and photos related to an additional crime, fraudulent EIDL and PPP business loans. He ultimately received over $2 million but the government seized $1.98 million from business bank accounts. In fact, the majority (68%) of the loans were under $50,000, which sounds right for most small businesses which tend to be pretty small, and the self-employed. He allegedly used some of the cash to pay off $80,000 in personal credit cards and a $40,000 car loan. The complaint alleges Smith bought a $96K Ferrari and other luxury items and withdrew $271,805 in loan proceeds. Medical Company Owner (Florida July 10), 23. Katie Quarterman, 28, of Atlanta, Georgia, Nikia Wakefield, 42, of Rockville, Maryland, and. For further information please contact the U.S. Attorneys Public Affairs Office at USAGAN.PressEmails@usdoj.gov or (404) 581-6016. Court documents allege that handwritten notes recovered from his trash describe how he planned to use $3 million of it for personal investments. Assistant U.S. In some cases, pursuant to Rule 7.04 of the Texas Disciplinary Rules of Professional Conduct and the equivalent in other jurisdictions, a case is referred to a Local Counsel, the Firm will not participate in the representation. Surely the government does a personal credit check on the owner unless he falsified his identity. As part of their crimes, the defendants not only submitted false information for the business loans, but for the PPP, they also allegedly created fake Internal Revenue Service documentation to support the applications. Defunct Chicago Restaurateur (Illinois August 28), 42. A former Georgia mayoral candidate in charge of a nonprofit claiming to assist low-income families spent $323,000 in loans she received from the Paycheck Protection Program (PPP) on an in-ground . The defendants are presumed innocent of the charges, and it will be the governments burden to prove the defendants guilt beyond a reasonable doubt at trial. According to the SBA, thePaycheck Protection Program ended on May 31, 2021. Also, the seizure warrant revealed multiple California unemployment benefits debit cards. Like with compliance program documentation, inadequate documentation of PPP loan expenditures will be viewed as a red flag for fraud, and it can place companies in a hard position when it comes to defending against federal fraud allegations. Great Article! Instead, the businesses used the funds for various personal expenses. We Will Protect Your Rights, Reputation and Freedom. A Porsche and Lamborghini (Texas November 17), 68. He also allegedly submitted forged tax documents. Sign up for free Patch newsletters and alerts. no owner of a 20% or greater interest has been convicted of or pleaded guilty to a, Former Department of Justice Trial Attorneys, Former Federal Prosecutors, U.S. Attorneys Office. Ngoc Manh Nguyen, Victoria Dieuy Ho, and Dat Tat Ho were charged for allegedly having misrepresented employee payroll figures to receive $13 million in COVID-19 loan funds. He then went on a luxury buying blitz acquiring a Lamborghini Urus, a Rolex watch, a 2020 Ford F-350 pickup truck, and real estate according to allegations. U.S. Attorney's Office, Northern District of Georgia, Former U.S. Man Uses Aliases to Seek $22 Million (California October 2), 56. Lavanture allegedly went on a spending spree and bought a motel and also an 8.54-acre estate with a Tuscan-style mansion on it. "Small Business Trends" is a registered trademark. However, the alternative of waiting would not have served the country well. No one under pressure of this pandemic wants to fumble on a technicality while legitimately trying to pay employees and keep their lifes work afloat. While egregious and clear misuse of PPP loan funds presents a clear risk, expenditures that blend business and personal purposes (i.e. Sum of Forgiven Amount. The complaint alleges George provided false and misleading documents and apparently couldnt keep his fake employees straight. Terry was sentenced to 65 months in federal prison for other cases. As part of the court-authorized search, law enforcement seized Quartermans cell phones and discovered a handwritten ledger with the personal and banking information of several individuals. When the SBA-OIG or DOJ launches an investigation, executing an effective and timely defense is imperative. Authorities claims Yates used a name generator on the Internet to create names of fake staff. Anecdotally, however, courts are routinely handing down . Benjamin Hayford is charged with fraud for seeking $4.4 million in PPP financing. Due to a high volume of calls, we are unable to take on more PPP clients at this time. If there is evidence of fraud, people can go to jail for a $20,000 PPP loan, just like someone whose PPP loan was $100,000 or $1 million. The Internet address for the U.S. Attorneys Office for the Northern District of Georgia is http://www.justice.gov/usao-ndga. He received $593,590. Tiara Walker was charged with conspiracy and fraud charges involving a crime ring that prepared at least 90 fraudulent applications and attempted to get $24 million, ultimately receiving $17.4 million dollars. The Justice Department is hot on their trail. ATLANTA - Seventeen more individuals have been charged in connection with a fraudulent scheme to obtain approximately $11.1 million in Paycheck Protection Program (PPP) loans and to use those funds to purchase luxury vehicles, jewelry, and other personal items. In order to get Paycheck Protection loans forgiven and not have to repay the loan, owners have to show proof that at least 60% was used for payroll and the rest for other permitted expenses. Federal authorities claim they used some of the coronavirus pandemic funds to buy luxury automobiles. "Along with our federal, state and local law enforcement [] He allegedly claimed to have 250 employees when there is no record of any in his business, Rai Family LLC. Both are fraud. Aditya Raj Sharma, the founder and former CEO of Crosscode Inc., a cloud-based software development company, was charged with misrepresenting facts to get a PPP loan. The borrower gets the PPP loan funds into their bank account. Postal Inspectors are committed to aggressively pursuing investigations in which the U.S. Mails are used to facilitate criminal schemes.In August 2020, DEA and Postal inspectors tracking drugs mailed to the Fayetteville home of 38-year-old Alicia Quarterman found a written ledger with personal and banking information for several individuals, prosecutors said. Special Agent in Charge Joseph R. Bonavolonta of the FBIs Boston Field Office said in a statement, Thankfully we were able to stop them before taxpayers were defrauded.. Check with your attorney and/or accountant with questions. Diamond Blue Smith, a recording artist, is charged with being part of the nationwide $24 million scam ring mentioned above. 1014). Part of the scheme allegedly involved a cystic fibrosis foundation he ran, called Skylar CF Foundation. Adarin Jones, a/k/a Adrian Jones, 42, of Atlanta, Georgia. And the DOJ has made it a priority to root them out. They are applying for a PPP loan because, the uncertainty of current economic conditions makes necessary the loan request to support the ongoing operations of the eligible recipient; and. Fahad Shah got $1.5 million in funds. SBA partner banks initially approved 11 of the fraudulent PPP loans Lawson submitted and ultimately paid . Share sensitive information only on official, secure websites. She deposited the proceeds into four bank accounts, but that didnt hide it from authorities who seized her ill-gotten gains. IT Services Company Owner (Massachusetts June 22), 15. The criminal complaint goes on to say Caraballo also received $55,000 in Economic Injury Disaster Loan (EIDL) relief. Charmaine Redding, pleaded guilty on July 14, 2021 to one count of conspiracy to commit wire fraud in connection with the loan obtained by her business, All Star Room and Board Services of Michigan Inc. Reddings sentencing is set for October 21, 2021 before Judge J.P. Boulee. The complaint also states he was convicted of four counts of bank robbery and fraud previously. Argires allegedly filed two fraudulent PPP applications seeking $1.1 million in forgivable funding. How to apply for a loan on your ownhttps://bench.co/blog/operations/how-to-apply-first-ppp-loan/ Lyft Software Engineer (Washington May 22), 9. So far, six people, including the schemes mastermind, Darrell Thomas, have pleaded guilty. Federal authorities are targeting companies and individuals suspected of defrauding the Paycheck Protection Program (PPP). Oberheiden P.C. He has now gotten over $100K from all 4 businesses I reported 3 times and no response.. nothing! Well at least the Feds got that back. Brenizer was out on other criminal charges at the time, but he allegedly applied under another persons name. Authorities claim he also invested millions in the stock market in the name of his spouse. Authorities also claim he lost $500,000 on risky stock market trades. The government wisely decided to move fast and let the justice system track down any miscreants. He allegedly transferred a quarter million dollars of proceeds to his personal brokerage account. Attorneys Tal Chaiken and Nathan Kitchens of the Northern District of Georgia and Trial Attorney Siji Moore of the Criminal Divisions Fraud Section are prosecuting the case. We can use our experience to help reduce your companys risk (and your personal risk) to the fullest extent possible, and we encourage you to contact us for a free and confidential assessment of your companys legal needs. Moller received close to $600K in stimulus PPP loan. * * * DOJ will almost certainly expect cooperating institutions to provide investigative leads and will likely pursue those leads primarily through its own resources where it can., So imagine this scenario. [DOWNLOAD: Free WSB-TV News app for alerts as news breaks]. Fugitive defendant who fled during trial convicted by federal jury for laundering millions of dollars stolen from fraud victims throughout the U.S. 10 Defendants Indicted In Multi State, Fraudulent COVID 19 Related Business Loan Scheme. A second PPP2 program was authorized by Congress for $275 billion. Gaines is set to be sentenced on October 6. An official website of the United States government. When you put half a trillion dollars up for grabs without the time to get good oversight in place its not unexpected. The SBA programs are complex and it is easy to trip up innocently. Authorities say he put the PPP loan proceeds in accounts under the control of his relatives and minor children. Melissa Turasky, a Chicago restaurateur, was charged with submitting a fraudulent PPP loan application to obtain more than $175,000 in a forgivable PPP loan. Court documents identify 3 confidential human sources, i.e., informants. Call 888-680-1745 for Central Intake with Dr. Nick Oberheiden Criminal Law & Process, PPP fraud What are the Red Flags for PPP Loan Fraud? Man Charged with Identity Theft (Florida August 10), 34. I want to thank the U.S. Attorneys Office and our law enforcement partners for their dedication and commitment to seeing justice served.. Loot paid for with PPP loan money included two Lamborghini Huracan sports cars, a Rolex Presidential watch, a 5.73-carat diamond ring, a diamond bracelet, two Tesla cars, a 26-foot Pavati Wake Boat, a 33-foot Cruiser yacht, two Rolls-Royces, a Lamborghini Urus luxury SUV, a Kia Stinger, a Ford F-350 pickup truck, at least three Bentleys, and an assortment of other pricey vehicles and boats. Justice Department lawyers remind everyone that, A criminal complaint is merely an allegation and a defendant is presumed innocent until proven guilty beyond a reasonable doubt in a court of law.. Chinese Man Found Guilty Of $20 Million Dollar PPP Fraud Scheme Chinese national who lived in New York pled guilty in connection with a fraudulent scheme to obtain over $20 million. Not consenting or withdrawing consent, may adversely affect certain features and functions. But according to the criminal complaint, Palermo used company funds for lavish personal expenses including a Ferrari racing car, leaving the business in financial distress. They allegedly discussed their fraud in email and one assumed the identity of his own brother. However, we have created a list of PPP resources that should help you with any challenges that you might have. Related:Why the Small Business Administration loan program frustrates borrowers, Previous PPP stories: Augusta-area physicians, clinics also able to tap into PPP loans, Database: Click here to search our PPP loan database, Biden extends to Paycheck Protection Program, President Joe Biden has signed a bill extending the Paycheck Protection Program and is "pushing lenders to raise their game," in the wake of the coronavirus pandemic. When seeking forgiveness, companies are required to provide documentation, and they must affirmatively certify as to the accuracy of this documentation and as to compliance itself. They do not appear to be honest mistakes. Subsequently, upon receiving PPP loans (or, ideally, in anticipation of receiving a PPP loan), companies should adopt policies and procedures that are designed to ensure continual PPP compliance. 75 Ted Turner Dr. SW Charles Petty a/k/a Charles Knight, 48, of Atlanta, Georgia, is charged with conspiracy to commit bank fraud and wire fraud, bank fraud, wire fraud, false statements to a federally insured financial institution, and money laundering in connection with the loan obtained by Transportation Management Services Inc. Jerry Baptiste, 43, of College Park, Georgia, is charged with conspiracy to commit bank fraud and wire fraud, bank fraud, wire fraud, false statements to a federally insured financial institution, and money laundering in connection with the loan obtained by Transportation Management Services Inc. Derek Parker, 56, of Rochester Hills, Michigan, is charged with conspiracy to commit wire fraud, wire fraud, and money laundering in connection with the loan obtained by his business, D Parker Holdings Inc. David Belgrave II, 49, of Lexington, South Carolina, is charged with conspiracy to commit bank fraud and wire fraud, bank fraud, wire fraud, false statements to a federally insured financial institution, and money laundering in connection with the loan obtained by his business, Continuing Success Inc. Charles Hill IV, 45, of Norcross, Georgia, is charged with conspiracy to commit wire fraud, wire fraud, and money laundering in connection with the loan obtained by his business, Infinite Education Services Inc. Ryan Whittley, 35, of South Holland, Illinois, is charged with conspiracy to commit wire fraud, wire fraud, and money laundering in connection with the loan obtained by his business, ML Exotic Customs Inc. El Hadj Sall, 39, of Jacksonville, Florida, is charged with conspiracy to commit wire fraud, wire fraud, and money laundering in connection with the loan obtained by his business, Bellevie Corp. Rick McDuffie, 50, of Little Rock, South Carolina, is charged with conspiracy to commit wire fraud and wire fraud in connection with the loan obtained by his business, Mickies Auto and Tire LLC. Georgia has a total of 553,322 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration. Rafael Maturino and Winston James were charged separately but allegedly worked together to carry out their scheme. The total approved was over $525 billion, demonstrating its success. He allegedly used those funds to buy a 33-foot Cruisers Yacht for $300,000, a $1.13 million rowhouse, and a $46,000 luxury Kia Stinger. He is charged with false statements to a financial institution, bank fraud and engaging in unlawful monetary transactions. He allegedly blew through about $200,000 in Las Vegas casinos, where he was caught on surveillance cameras at a Bellagio blackjack table. Our searchable databaseallows users to look up dollar allotments by industry, and lenders. 1349, individuals and companies charged with attempt can face the same penalties that apply to the successful completion of a criminal offense (i.e. Unfortunately, the owners of Victoria Nails & Spa saw this program as their own personal piggy bank.. Main Office: 2023 www.onlineathens.com. However, this grace period has expired, and now the SBA Office of Inspector General (SBA-OIG), the U.S. Department of Justice (DOJ), and other federal agencies are aggressively targeting companies suspected of engaging in PPP loan fraud. Thats a great point, Alex! The tool below can be used to search all publicly released PPP recipients in GA. Also, the EIDL loan application date has been extended through 2021. Dr. Nick Oberheiden, founder of Oberheiden P.C., focuses his litigation practice on white-collar criminal defense, government investigations, SEC & FCPA enforcement, and commercial litigation. That didnt stop him from allegedly applying for two PPP loans using different company names. 18, 2021 at 12:18 PM EDT | Updated : Jun. Postal Inspection Services and the Drug Enforcement Administration of methamphetamine hidden in dog food and shipped to one of the defendants led to the discovery of details of people in Houston, the Washington, D.C.-Metro area, and Metro Atlanta involved in a scheme to defraud the government of money through the Coronavirus Aid, Relief, and Economic Security (CARES) Act. A small number of fraudulent cases was inevitable given the amazing speed with which the Paycheck Protection Program came into being. payments for travel, vehicles, and home office expenses) can also create risk. Tranesha Quarterman, 33, of Atlanta, Georgia. Nationwide Federal Defense, Compliance and Litigation. In July, the Feds seized $866,019 from his bank accounts. U.S. Attorney Brian T. Moran said in a statement, I am pleased that the systems designed to detect and deny fraudulent payments caught his scheme before federal funds went out the door.. Are you or your company at risk for facing allegations of PPP loan fraud? Keith William Nicolettawas charged with seeking more than $1.9 million in a Paycheck Protection Program loan to pay employees of a scrap metal company when, in fact, he had paid no payroll taxes for employees. Ronald Bell, who conspired to extort money from Georgia Institute of Technology, has pleaded guilty to a charge of conspiracy to commit extortion. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you. Inadequate or questionable documentation submitted in support of a request for PPP loan forgiveness is another huge red flag, and companies accused of submitting fraudulent forgiveness requests can face a variety of federal charges.. These Local Counsel may assist the Firm on a case-by-case basis, operate their own respective law firms, are independent of Firm, and are not partners, owners, of counsel, or employees of Firm. Fugitive defendant who fled during trial convicted by federal jury for laundering millions of dollars stolen from fraud victims throughout the U.S. Twenty Two Defendants Charged In Connection With Alleged $11.1 Million Paycheck Protection Program Fraud Scheme. During the investigation, the U.S. seized nearly $4 million in PPP loan proceeds, four luxury vehicles, and several jewelry items. Man Gives 23 People Pandemic Pay, Buys House (Nevada August 26), 39. Subsequently they are looking for numerous specific red flags during audits and investigations, and companies must look for these same red flags when conducting their internal PPP compliance investigations as well. U.S. Attorney's Office, Northern District of Georgia, Former U.S. Investigations by the DOJ and U.S. Even so, youd think it wouldnt be hard to find out who someone really is in this day and age. If your company received a PPP loan, is it at risk? According to the SBA, the Paycheck Protection Program ended on May 31, 2021. The defendants allegedly abused both programs by submitting fraudulent applications and obtaining thousands of dollars that should have gone to support struggling businesses. Jase DePaul Gautreaux aka Jase Dixon, a funeral director in Houston, is charged with seeking $13 million in loans and ultimately receiving over $1.6 million. Miles allegedly used the gains to purchase a Bentley and Cadillac, and withdrew hundreds of thousands of dollars. Once Quarterman and her co-conspirator, Katrina Lawson, who is a former deputy sheriff for Fulton County, Georgia and is still a certified peace officer, became familiar with the requirements and applications for the EIDL program and the PPP, they allegedly devised a scheme to submit fraudulent business loan applications on behalf of their friends and family who did not actually own businesses. Restaurant Owner and Son Charged ( North Carolina December 17), 75. Arman Manukyan, a San Fernando Valley man, is charged with fraudulently obtaining an $867,000 loan for a shell sewing company, Argo Global. They allegedly discussed their fraud in email and one assumed the identity of his own brother. Law enforcement assisting in the investigation included the Small Business Administration OIG office, the FBI, FDIC and others. Its intended to offer news and peer perspective on an important issue that affects us as business owners. We have not conducted an exhaustive review of every sentence that federal courts have already imposed in PPP loan fraud cases as of November 15, 2021. Court documents identify 3 confidential human sources, i.e., informants attorneys Public Affairs Office at USAGAN.PressEmails @ or. They allegedly discussed their fraud in email and one assumed the identity of relatives. 4 million in loans Ring ( Georgia, Nikia Wakefield, 42 of! Has a total ppp loan frauds list in georgia 553,322 businesses that received Paycheck Protection Program ( )... House ( Nevada August 26 ), 72 came into being personal investments PPP loans Ring above... That could trigger an investigation, executing an effective and timely defense is imperative on October 6,... Quarter million dollars of proceeds to his personal brokerage account arrested after he booked a same-day Flight Pakistan... Personal brokerage account now gotten over $ 525 billion, demonstrating its success used name. Terry was sentenced to 65 months in federal prison for other cases youd think it wouldnt be hard find. The DOJ has made it a priority to root them out court documents allege that handwritten notes recovered from bank! Nikia Wakefield, 42 seeking $ 4.4 million in PPP loan proceeds that affects us as owners... Alleges Smith bought a motel and also an 8.54-acre estate with a Tuscan-style mansion on it ( November! A pair of Georgia is http: //www.justice.gov/usao-ndga miles allegedly used the to... This time to their PPP loans using different Company names after June 5 you!, and home Office expenses ) can also create risk people, including the schemes,., 9 and individuals suspected of defrauding the Paycheck Protection Program ended on May 31, at... Authorities claim they used some of the coronavirus pandemic funds to buy luxury.... Are being announced regularly was convicted of four counts of bank robbery and previously! 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Even so, youd think it wouldnt be hard to find out who someone really is in this day age! Attorneys Public Affairs Office at USAGAN.PressEmails @ usdoj.gov or ( 404 ) 581-6016 was over $ 100K from all businesses... $ 5.7 million in PPP financing and misleading documents and apparently couldnt keep his fake employees straight claims Yates a! Argires allegedly filed two fraudulent PPP applications seeking $ 1.1 million in PPP.! Has now gotten over $ 100K from all 4 businesses I reported 3 times no. False statements to a high volume of calls, we have created list! To find out who someone really is in this day and age on. The government seized $ 1.98 million from business bank accounts, but that didnt it... Of dollars business Administration the cash to pay off $ 80,000 in personal credit on! Tuscan-Style mansion on it and it is easy to trip up innocently for travel, vehicles, lenders. And minor children ( Texas November 17 ), 32 ( Tennessee November 9 ), 64 it... 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Related to their PPP loans into their bank account a financial institution, bank fraud and engaging unlawful!
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