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A Stamford developer was sentenced to more than three years in prison Tuesday for...

A Stamford man has been sentenced to prison time for his role in fraudulently obtaining more than $4 million in COVID-19 relief funds, according to the Dept. of...

HARTFORD -- A Stamford resident who once promised to redevelop long-vacant properties in downtown Ansonia was sentenced to three and a half years in…

UpdatedTue, May 11, 2021 at 9:42 pm ET Replies(15) Diakhate allegedly used a portion of COVID relief funds for various personal expenses. (Shutterstock) STAMFORD, CT—A Stamford man was arrested on Monday on a federal complaint charging him with bank and wire fraud offenses related to his receipt of $2.9 million in COVID-19 relief funds from the U.S. Small Business Administration (SBA), according to a news release. The funds were guaranteed by the SBA under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Moustapha Diakhate, 45, appeared Monday afternoon before a U.S. Magistra...

Officials said Diakhate maintained an ownership or management interest in certain small business entities including Ansonia Developers LLC, Winsbay Inc., Buyers Assoication Group LLC, Washington Management LLC and Diakhate Capital, Inc. He allegedly provided Citibank with false and fraudulent information during the PPP loan application process for each of his five entities, which totaled $2,897,100. Officials said he then used a portion of the funds for various personal expenses including paying off a previous car loan and purchasing both a Mercedes and BMW. Officials said Diakhate also purch...