CONCORD, N.H. (AP) — A former New Hampshire man has pleaded guilty to making false statements to receive over $55,000 in federal CARES Act relief funds aimed at helping small businesses during the coronavirus pandemic.
According to court documents and statements, the man lied about his payroll to obtain three loans, falsely stating his annual income and generating a false IRS form inflating his 2020 earnings. He received loans under the Paycheck Protection Program and the Small Business Administration’s Economic Injury Disaster Loan.
The man, who pleaded guilty as part of a plea agreement with prosecutors, is scheduled to be sentenced on April 14 in federal court. He could face up to five years in prison.
The case was investigated by the Treasury Inspector General for Tax Administration and Social Security Administration’s Office for the Inspector General.
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