A male nurse in Florida is accused of fraudulently obtaining $420,000 in coronavirus relief funds.
Giraldo Caraballo, a 55-year-old nurse from Miami, is charged with making false statements to a financial institution and engaging in transactions in unlawful proceeds, the Associated Press reported.
Citing a criminal complaint, the AP reported Caraballo allegedly applied for and received a Paycheck Protection Program loan for his company, Professional Skills Inc. Investigators say Caraballo made false statements, including that his company had an average monthly payroll of $168,000 and some 28 employees. Caraballo also received around $55,000 in Economic Injury Disaster Loan, which the accused allegedly transferred to various accounts and used for personal expenses.
(Via the AP)
The Paycheck Protection Program represents billions of dollars in forgivable small business loans for Americans struggling because of the COVID-19 pandemic. It’s part of the coronavirus relief package that became federal law in March.
The Economic Injury Disaster Loan program is administered by the U.S. Small Business Administration. The program provides low-interest financing to small businesses, renters and homeowners in regions affected by declared disasters.