Effective Date Set For FRB Rule On The Role Of Supervisory Guidance - Finance and Banking mondaq.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mondaq.com Daily Mail and Mail on Sunday newspapers.
BINGHAMTON, NY Ejembi Onah, of Ithaca, New York, was arrested yesterday on a federal wire fraud and money laundering complaint alleging that he fraudulently obtained approximately $150,000 in government-backed loans meant for businesses struggling with the financial effects of the coronavirus pandemic.
The announcement was made by Acting United States Attorney Antoinette T. Bacon; Jonathan D. Larsen, Special Agent in Charge, New York Field Office, Internal Revenue Service (IRS)-Criminal Investigation; and Kevin M. Kelly, Special Agent in Charge, Buffalo Division of Homeland Security Investigations (HSI).
The criminal complaint alleges that between April 1, 2020 and March 3, 2021, Onah received approximately $150,000 in Paycheck Protection Program (PPP) loans and Economic Injury Disaster Loans (EIDL), which were issued by two banks and the Small Business Administration to two companies he controlled. The complaint further alleges that in support of the loan applications, Onah subm
Tompkins County Man Accused of COVID Aid Fraud
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Federal prosecutors say 58-year-old Ejembi Onah of Ithaca is charged with federal counts of wire fraud and money laundering for collecting $150,000 in Paycheck Protection Program loans and Economic Injury Disaster Loans for two companies he controlled.
Officials with the U.S. Attorney’s Office Northern New York District alleged Onah obtained government-backed loans intended for businesses struggling with the financial effects of the coronavirus pandemic through fraudulent tax documents and fabricated bank statements between April of last year and March 3 of this year.
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If convicted of wire fraud, he faces up to 30 years in prison and up to 10 years in prison if convicted of engaging in transfers of wire fraud proceeds greater than $10,000 in value.
The National Restaurant Association divulged more information on Restaurant Revitalization Act grant eligibility, timeline, and funds
The National Restaurant Association released a Restaurant Revitalization Fund FAQ Friday divulging more information on grant eligibility, timeline, and fund distribution for restaurant operators. The Restaurant Revitalization Fund was passed as part of the American Rescue Plan signed into law by President Biden on March 11. Although the Small Business Administration has not yet released official guidance for the application process, they are expected to begin taking applications by the end of the month.
Here are some important updates about the RRF, as detailed in the FAQ published by the National Restaurant Association. The FAQ is based on the association s work with the SBA and will be updated as the SBA releases its final regulatory guidance decisions.
SBA s shuttered venue grant program launches for these businesses - Washington Business Journal bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.