Add as preferred on Google
An Alaskan resident was found guilty on three counts of wire fraud involving more than $172,000 from emergency COVID-19 programs when he appeared before a Portland U.S. District Court judge earlier this week.
According to the U.S. Attorney’s Office, District of Oregon, 65-year-old Peter Igwacho was sentenced to 21 months in federal prison, three years of supervised release, and must repay $182,225.15 in restitution.
He Filed at Least Five Fraudulent Applications
Igwacho received the funds from the Paycheck Protection Program (PPP) and the Economic Injury and Disaster Loan (EIDL) program between April 2020 and October 2021, during the ongoing pandemic.
According to court documents, Igwacho, who lives in Anchorage, Alaska, filed at least five fraudulent applications on behalf of a non-operational sole proprietorship.
Evidence showed that Igwacho used the money to fund personal expenses instead of for its intended purpose – helping small businesses survive financially during the COVID-19 pandemic.
Be the first to comment.