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Coppell man sentenced to over 11 years in prison for scheme to receive millions in PPP loans

Coppell man sentenced to over 11 years in prison for scheme to receive millions in PPP loans Dinesh Sah, 55, used fake financial documents to secure over $17 million from the program, which was created to keep small businesses afloat during the pandemic. File photo.(Andy Jacobsohn / Staff Photographer) 7:07 PM on Jul 28, 2021 CDT A Coppell man was sentenced Wednesday to more than 11 years in prison for his scheme to obtain nearly $25 million in forgivable loans through the federal Paycheck Protection Program, the U.S. attorney’s office for the Northern District of Texas announced. The PPP, managed by the Small Business Administration, was created to help keep struggling small businesses afloat during the coronavirus pandemic. Money received through the program’s forgivable loans must be put toward payroll costs, mortgage interest, rent and utilities.

Texas Man Gets 11 Years for $24 Million Worth of Fraudulent COVID-19 Relief Claims

Texas Man Gets 11 Years for $24 Million Worth of Fraudulent COVID-19 Relief Claims On 7/28/21 at 10:11 PM EDT A Texas man was sentenced to more than 11 years in prison on Wednesday after making a series of false claims in an attempt to fraudulently obtain $24.8 million in Paycheck Protection Program (PPP) loans. U.S. District Judge Karen Gren Scholer handed 55-year-old Dinesh Sah the sentence and an order to pay $17,284,649.79 in restitution on Wednesday, just over four months after he pleaded guilty to money laundering and wire fraud charges, according to the Department of Justice. PPP loans were introduced as part of the Coronavirus Aid, Relief and Economic Security Act during the first wave of the COVID-19 pandemic and, unlike most other loans, can be fully forgiven under certain conditions.

Coppell businessman sentenced to 11 years for using PPP loans to buy luxury cars, homes

Coppell businessman sentenced to 11 years for using PPP loans to buy luxury cars, homes
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