Home Breaking News Business owner pleads guilty to $2.5 million pandemic fraud

Business owner pleads guilty to $2.5 million pandemic fraud

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Business owner pleads guilty to $2.5 million pandemic fraud

ALEXANDRIA, Va. (AP) — A northern Virginia man has pleaded guilty to illegally obtaining $2.5 million in federal coronavirus loans and the remark of the cash to lift an airplane and luxury car.

Didier Kindambu, 49, of Leesburg, pleaded guilty Thursday in federal court in Alexandria to bank fraud.

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Prosecutors mutter Kindambu applied for two loans below the federal Paycheck Protection Program for his corporations, Papillon Holding and Papillon Air. He submitted fraudulent documentation that his corporations employed dozens of workers with millions of dollars in annual payroll when in actual fact he had few, if any workers.

He got $2.5 million in loans and spent the cash on a Lexus, a Cessna turboprop plane, jewelry and diverse inside of most charges, in accordance to prosecutors.

He is scheduled for sentencing in August. Sentencing pointers call for a four-one year time length, nonetheless in court papers Kindambu’s attorney, Kevin Carroll, acknowledged his consumer is hopeful of receiving a significantly shorter time length. In an announcement, Carroll acknowledged in an announcement that Kindambu “seems to be to be forward to making the wanted restitution to the government and taxpayers.”

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Business owner pleads guilty to $2.5 million pandemic fraud