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Three defendants arrested for over $13 million fraud scheme to obtain loans intended to help small businesses during COVID-19 pandemic


Jonathan D. Larsen, Special Agent in Charge of the New York Field Office of the Internal Revenue Service, Criminal Investigation ( IRS-CI ), announced today the arrests of Ngoc Manh Nguyen, aka Peter Nguyen, Victoria Dieuy Ho, aka Vicky Ho, and Dat Tat Ho for a fraudulent scheme to obtain over $13 million in Government-guaranteed loans designed to provide relief to small businesses during the novel coronavirus/COVID-19 pandemic. In connection with loan applications for COVID-19 relief available from the Paycheck Protection Program ( PPP ) of the SBA, the defendants falsely and grossly overstated the number of employees and payroll at their nail salons and other businesses through fraudulent and doctored payroll and tax records in order to obtain larger loans. The defendants were arrested this morning. Victoria Ho will be presented tomorrow in Manhattan federal court before U.S. Magistrate Judge Sarah Netburn. Nguyen and Dat Ho will be presented in United States District Court ....

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