BOSTON (WHDH) - A Massachusetts business owner was arrested Monday for allegedly filing fraudulent loan applications seeking millions of dollars in COVID-19 relief loans, officials announced.
Elijah Majak Buoi, 38, of Winchester, was charged in a criminal complaint filed in the District of Massachusetts with wire fraud, according to the Department of Justice. He is slated to appear in federal court in Boston this afternoon.
Buoi, the president and CEO of Sosuda Tech LLC, allegedly submitted fraudulent applications for over $13 million in forgivable Paycheck Protection Program loans guaranteed by the Small Business Administration under the Coronavirus Aid, Relief, and Economic Security Act, the complaint stated.
Buoi misrepresented the number of employees and payroll expenses and falsely certified that the United States was the primary residence for his employees, the complaint alleges. He also allegedly submitted falsified documentation in support of his applications for PPP funds, ultimately receiving over $2 million in PPP funds.
The government says it has since seized about $1.98 million from Sosuda’s business bank accounts.
An investigation remains ongoing.
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