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The Day – Massachusetts man charged with $400K pandemic mortgage fraud

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The Day – Massachusetts man charged with $400K pandemic mortgage fraud

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BOSTON (AP) — A Massachusetts man who fraudulently obtained greater than $400,000 in federal loans meant for companies struggling via the coronavirus pandemic used the cash on mortgage funds and to pay folks near him, together with his companion, federal authorities alleged.

Adley Bernadin, 44, of Stoughton, was charged Thursday with wire fraud, in keeping with an announcement from the U.S. lawyer’s workplace in Boston. He was launched after an preliminary court docket look. An electronic mail looking for remark was left along with his lawyer.

In keeping with authorities, Bernadin in Could 2020 submitted a fraudulent utility on behalf of a purported residence well being care firm for a Paycheck Safety Program mortgage of about $400,000. In that utility, he misrepresented details about the corporate’s staff and payroll bills and falsified a tax type in an effort to qualify, prosecutors stated.

He obtained the funds and used them to make residence mortgage funds and to put in writing checks to folks he knew, together with $135,000 to an individual authorities described as his spouse or companion.

This system, enacted as a part of the CARES Act in March 2020 to supply emergency monetary help to Individuals struggling economically from the results COVID-19 pandemic, gives forgivable loans to small companies for job retention and sure accepted bills.

 



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