Raleigh Man Charged with Defrauding COVID Relief Program

Summary

This press release states that a federal grand jury returned an indictment charging a Raleigh man with defrauding the Paycheck Protection Program (PPP) for over $1 million, and that the indictment was unsealed. According to the indictment, Wilson Alfredo Olivera Borda received nine PPP loans in the names of five separate businesses by allegedly falsely claiming on PPP applications that each business had substantial employees and operations. The indictment alleges that Olivera submitted fabricated tax returns to PPP lenders and made additional false statements to obtain forgiveness, and that all nine loans were fully forgiven. Olivera is charged with nine counts of wire fraud involving disaster-related benefits and, if convicted, faces a maximum of 30 years in prison.

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RALEIGH, N.C. – A federal grand jury returned an indictment yesterday charging a Raleigh man with defrauding the Paycheck Protection Program (PPP) for over $1 million. The indictment was unsealed today.
“We are devoting more resources than ever to prosecuting white collar fraud, especially on taxpayer-funded relief programs meant to serve the needy,” said U.S. Attorney Michael Easley. “Fairness in federally funded programs is fundamental to public trust and the rule of law.”
According to the indictment, Wilson Alfredo Olivera Borda, 44, received nine PPP loans in the names of five separate businesses—The Insurance Centers.Com Inc., The Insurance Centers LLC, Realty Vestors LLC, US-Kaizen LLC, and Ecobuild LLC—by allegedly falsely claiming on PPP applications that each business had substantial employees and operations. The indictment alleges that Olivera bolstered these fraudulent misrepresentations by submitting fabricated tax returns to PPP lenders.
The indictment also alleges that Olivera made additional false statements to obtain forgiveness on the loans and that all nine loans were fully forgiven and paid off by the U.S. Small Business Administration.
Olivera is charged with nine counts of wire fraud involving disaster-related benefits. If convicted, he faces a maximum of 30 years in prison.
Michael Easley, U.S. Attorney for the Eastern District of North Carolina made the announcement. The Federal Bureau of Investigation is investigating the case and Assistant U.S. Attorney Chris Cogburn is prosecuting the case.
The Fraud Section leads the Criminal Division's prosecution of fraud schemes that exploit the Paycheck Protection Program (PPP). Since the inception of the CARES Act, the Fraud Section has prosecuted over 150 defendants in more than 95 criminal cases and has seized over $75 million in cash proceeds derived from fraudulently obtained PPP funds, as well as numerous real estate properties and luxury items purchased with such proceeds. More information can be found at Justice.gov/OPA/pr/justice-department-takes-action-against-covid-19-fraud.
An indictment is merely an accusation. The defendant is presumed innocent until proven guilty.

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