Feds bust $28M pandemic loan-fraud ring in South Florida

On the top of the coronavirus outbreak, a South Florida man charged with drug dealing utilized for and acquired a $250,000 federal authorities mortgage for his liquor retailer that was purported to be for companies struggling through the pandemic.

His bogus software tipped off federal investigators to what would develop into a $28 million fraud ring run by a Broward County tax preparer who submitted a pile of phony Paycheck Safety Program mortgage purposes that have been assured by the Small Enterprise Administration.

Now, the tax preparer, Wally Dorlus, 41, of Margate, and his recruits, Marcgenson Marc, 37, of Coconut Creek, Edward Moise, 45, of Coral Springs, and Roberto Geronimo, 40, of Miami Gardens, are serving varied jail phrases after pleading responsible to fraud prices.

Go to Herald.com for the total report.