Allegedly Fake Companies Allegedly Bought Some Very Real, Very Fast Rides
Mustafa Qadiri (allegedly) knows what weâre talking about.
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Mustafa Qadiri (allegedly) knows what weâre talking about.
The investigation, led by the Justice Department s civil division, is examining whether Kabbage and other fintech companies miscalculated how much aid borrowers were entitled to from the Paycheck Protection Program (PPP) due to confusion over how to account for payroll taxes, the three people said…. Lenders have said they were under enormous pressure to lend vast sums of money to millions of businesses quickly, while having to keep up with ever-changing PPP rules.
Santa Ana, California – An Orange County man was arrested today on federal charges alleging he fraudulently obtained approximately $5 million in Payment Protection Program (PPP) loans for his sham businesses, then used the money on himself, including purchasing Ferrari, Bentley and Lamborghini sports cars.
Mustafa Qadiri, of Irvine, was named in a federal grand jury indictment returned Wednesday charging him with four counts of bank fraud, four counts of wire fraud, one count of aggravated identity theft, and six counts of money laundering.
Qadiri surrendered to law enforcement this morning and is expected to make his initial appearance this afternoon in United States District Court in Santa Ana.
May 10, 2021
A California man has been arrested on federal charges for fraudulently obtaining millions of dollars in COVID relief funds and using the money to buy expensive cars and vacations.
TeeRoy s 2 Cents:
What a lowlife. These scammers are taking money away from people and businesses who really need the money.
Did he really think he could buy all those cars during a pandemic and a financial crisis and no one would be suspicious?
It s incredible how many scammers have done similar things.
A California man has been arrested on federal charges for fraudulently obtaining millions of dollars in COVID relief funds and using the money to buy expensive cars and vacations.
(SUV)
Not too long ago, we learned of Pastor Rudolph Brooks Jr., a pious man of the cloth who also ran an imaginary car dealership along with several other paper businesses. He used those fictional business entities to apply for millions of dollars in loans from the CARES Act via the Paycheck Protection Program. He then promptly spent the money on a fleet of expensive cars including a Mercedes Benz S Class, two Infinity Q50s, a Cadillac Escalade, and a Bentley Continental. Pastor Brooks is very likely on his way for an extended vacation in the crowbar hotel, but he may wind up with some company. This week we’re learning of yet another “businessman” who thought that the CARES Act looked like a fine way to score some quick cash with no one being the wiser. Mustafa Qadiri, a 38-year-old California man who claimed to operate four different businesses, received more than five million dollars in PPP loans from three different banks. I’ll let you try to guess what he did with the m