Leesburg Man Arrested for $2.5M CARES Act Loan Fraud
Summary
A release from USAO - Virginia, Eastern states that a Leesburg man was arrested on charges of fraudulently obtaining over $2.5 million in loans through the CARES Act Paycheck Protection Program (PPP) and spending the money on luxury items. According to court documents, Didier Kindambu, 48, fraudulently obtained two loans issued under the PPP by creating fraudulent payroll documentation for two businesses that Kindambu owns. The release says Kindambu obtained approximately $2,501,753 in loan proceeds and spent funds, in part, on items such as a Lexus automobile and a Cessna aircraft. Kindambu is charged with one count of bank fraud and faces a maximum penalty of 30 years in prison if convicted.
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“Leesburg Man Arrested for $2.5M CARES Act Loan Fraud.”
Original at www.justice.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2020-10-20-leesburg-man-arrested-for-2-5m-cares-act-loan-fraud-f7c4737-6fec0c865f/
, SHA-256 4f30e218db954a9ca524a4e39d28d856b0d172602b3342e0ba08a4da0707c1cc.Full text
ALEXANDRIA, Va. – A Leesburg man was arrested today on charges of fraudulently obtaining over $2.5 million in loans through the CARES Act Paycheck Protection Program (PPP), and then spending the fraudulently obtained money on luxury items. According to court documents, Didier Kindambu, 48, fraudulently obtained two loans issued under the PPP, a program instituted by Congress in an effort to help businesses affected by the COVID-19 pandemic continue to pay salary or wages to their employees. Kindambu carried out the scheme in connection with two businesses that he owns by creating fraudulent payroll documentation for each business, and then submitting that documentation in support of the PPP loan applications. In total, Kindambu fraudulently obtained approximately $2,501,753 in loan proceeds, and then spent those funds, in part, on items unrelated to any legitimate PPP-related expense, such as a Lexus automobile and a Cessna aircraft. Kindambu is scheduled to make his initial appearance in federal court in Alexandria today at 2 p.m. Kindambu is charged with one count of bank fraud. If convicted, he faces a maximum penalty of 30 years in prison. Actual sentences for federal crimes are typically less than the maximum penalties. A federal district court judge will determine any sentence after taking into account the U.S. Sentencing Guidelines and other statutory factors. G. Zachary Terwilliger, U.S. Attorney for the Eastern District of Virginia; Kelly R. Jackson, Special Agent in Charge, Washington, D.C. Field Office, IRS-Criminal Investigation (IRS-CI); Hannibal “Mike” Ware, Inspector General of the Small Business Administration (SBA); and Jay N. Lerner, Inspector General of the Federal Deposit Insurance Corporation (FDIC-OIG), made the announcement. Assistant U.S. Attorney Matthew Burke is prosecuting the case. A copy of this press release is located on the website of the U.S. Attorney’s Office for the Eastern District of Virginia. Related court documents and information are located on the website of the District Court for the Eastern District of Virginia or on PACER by searching for Case No. 1:20-mj-286.
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