A Nevada man allegedly submitted 12 different applications for PPP loans – meant for struggling small businesses – and used the fraudulently obtained money to buy new cars and luxury condos in Las Vegas, according to court papers.
The charges against Jorge Abramovs were revealed this week by the US Attorney’s office in Nevada. The man is accused of committing bank fraud and receiving almost $2 million in federal Paycheck Protection Program (PPP) money. The $669-billion program was launched last year in response to the Covid-19 pandemic to help small businesses weather the economic storm it caused.
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