A federal investigation into a loan given to a Beverly Hills, Michigan, man during the coronavirus pandemic has led to a federal indictment, unsealed on Aug. 5, against 45-year-old Jabari Kadar Long.
The U.S. Attorney’s Office for the Eastern District of Michigan has announced that Long has been accused of defrauding the U.S. Small Business Administration (SBA) after submitting fraudulent loan applications for funds received from two government programs: the Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL).
Long has been charged with one count of conspiracy to commit wire fraud, one count of wire fraud affecting a financial institution, and one count of money laundering arising out of his participation in the scheme. Along with several unnamed co-conspirators, the 45-year-old applied for emergency funds that the government was offering during the COVID-19 pandemic, which had gripped the nation.
They applied for the PPP and EIDL loans, supplying false information on applications for businesses that were ineligible for such loans. The indictment alleges that Long applied for and received $2,187,000 for a business called “Priceless Preservations Construction.” The application he filled out listed that the company employed a total of 50 employees and that the business had an average monthly payroll of $875,000. Authorities have alleged that the information provided was not truthful, as Priceless Preservations Construction had few, if any, employees and minimal payroll expenses. The SBA forwarded over $3 million from these programs to Long.
No additional information was revealed regarding any upcoming court dates or the potential penalties Long may face for allegedly committing this crime.
In March 2020, as the country grappled with the effects of the coronavirus pandemic, Congress created the PPP to provide emergency financial assistance to businesses suffering from the economic impact of the pandemic. Under this program, eligible small businesses could receive forgivable loans guaranteed by the SBA.
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