MA man to plead guilty to COVID relief fraud

MA man to plead guilty to COVID relief fraud

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A Massachusetts gentleman has agreed to plead responsible to fraudulently acquiring about $1.2 million in federal loans meant to assistance businesses struggling mainly because of the COVID-19 pandemic.

James Joseph Cohen, 59, of Wenham, concerning April 2020 and September 2021 submitted six fake programs in which he overstated the earnings, the quantity of staff members, and the payroll for two businesses he managed, according to federal prosecutors.

In a person situation, he mentioned a firm experienced $2.8 million in yearly revenues, when it no revenues at all, in accordance to courtroom paperwork.

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He made use of the revenue to pay out private and organization loans, like for a home finance loan, vehicle payments, tuition, and to a Maine vacation resort, according to law enforcement, which were being not authorized under mortgage policies.

MA man to plead guilty to COVID relief fraud

A Massachusetts guy has agreed to plead guilty to COVID-19 fraud rates

A date at which he will plead guilty to lender fraud has not yet been scheduled.

Cohen’s federal public defender claimed he experienced no comment.


Although he could face a sentence of up to 30 many years in jail on a bank fraud demand, the protection and prosecution has agreed to a sentence of 12 months of probation and total restitution of virtually $1.2 million, in accordance to court docket paperwork.