Southern California The man pleaded not guilty to buying $ 5 million in a federal coronavirus bailout loan for a fake business and using that money to buy Lamborghini, Ferrari and Bentley, the prosecution said Monday.
Mustafa Qadiri, 38, was arrested Friday on suspicion of a trick to steal a paycheck protection program introduced last year to help small businesses. COVID-19 (New Coronavirus Infection) Pandemic.
According to prosecutors, federal investigators seized Ferrari, Bentley, and Lamborghini cars purchased by the Cardilly sect and about $ 2 million from his bank account.
A Southern California man pleaded not guilty to acquiring $ 5 million in a federal coronavirus rescue loan for a fake business and using that money to buy Lamborghini, Ferrari, and Bentley.
Mustafa Kadiri, 38, was arrested Friday on suspicion of a trick to steal the paycheck protection program he allegedly used to buy Ferrari.
Federal agents have seized Ferrari, Bentley, and Lamborghini cars purchased by Kadiri and about $ 2 million from his bank account.
Irvine’s Kadiri surrendered to law enforcement and pleaded not guilty to multiple accusations in federal court in Santa Ana on Friday afternoon.
According to US law firms, these include four bank frauds, four transfer frauds, one spoofing crime, and six money laundering cases.
If convicted, he will face up to 302 years in prison, a spokesman for the US federal prosecutor’s office said.
Bilal A, a Qadiri lawyer. Essayli declined further comments on Monday.
The prosecution said the Qadiriyya submitted fraudulent PPP loan applications to three banks in May and June 2020 on behalf of four companies that did not actually exist.
He has been accused of claiming to operate four businesses in Newport Beach-All American Lending, Inc., All American Capital Holdings, Inc., RadMediaLab, Inc., Ad Blot, Inc.- Neither is the company currently in operation.
The Qadariyah allegedly applied for a PPP loan containing changes in bank records, fake tax returns, and false information about employees and used the money for flashy cars.
Kadiri also fraudulently applied for one of the loans used to purchase a Lamborghini, using someone else’s name, social security number, and signature.
According to the indictment, the application contained changes in bank records, fake tax returns, and false information about employees.
According to prosecutors, the Qadiriyya also fraudulently applied for one of the loans using someone else’s name, social security number, and signature.
He received a $ 5 million loan and said investigators used it to pay for luxury travel, sports cars and personal expenses.
The Qadariyah acquired Lamborghini Aventador S in 2018 and registered with All American Capital Holdings, one of the non-operating companies listed on the loan application.
He also bought the 2011 Ferrari 458 Italia for over $ 100,000 and registered with the same company.
The third car, the 2020 Bentley Continental GT Coupe, was also allegedly purchased by the Qadariyah with a fraudulent loan.
Judge Josephine L. Staton of the US District Court scheduled a jury trial on June 29. Kadiri was released on a $ 100,000 bond.
Several were arrested for fraudulently claiming a Covid-19 bailout loan, and the Qadariyah are the third person charged with identifying the purchase of a Lamborghini.
After using a PPP loan to buy a Lamborghini, a man was arrested in Florida in July and a man in Texas in August.
The Qadariyah received a $ 5 million loan and investigators said they used it to pay for luxury travel, sports cars and personal expenses.
California man, 38, charged with using $5million covid relief loans to splash out on flashy cars Source link California man, 38, charged with using $5million covid relief loans to splash out on flashy cars