Camden Man Pleads Guilty to Stealing More Than $51,000

Summary

A press release from USAO - Maine, published January 27, 2025, announcing that a Camden man pleaded guilty to wire fraud in U.S. District Court in Portland. The release names Yani Stancioff and states that, according to court records, Stancioff submitted three fraudulent applications for Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) funds in 2020 and 2021 and obtained $51,666. It states that Stancioff faces up to 20 years in prison and a maximum fine of $250,000, followed by up to three years of supervised release. The release says IRS Criminal Investigation investigated the case.

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Full text

PORTLAND, Maine
: A Camden man pleaded guilty in U.S. District Court in Portland today to wire fraud.
According to court records, in 2020 and 2021,
Yani Stancioff,
29, exploited the COVID19 pandemic by submitting fraudulent applications for Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) funds. Stancioff submitted three fraudulent applications and obtained $51,666. On his EIDL application, he claimed to be the sole proprietor of a non-existent agricultural business. On his PPP applications, Stancioff falsely claimed to be the sole proprietor of a marketing business with gross income of approximately $107,000. As part of the false PPP applications, Stancioff filed falsified IRS documents.
Stancioff faces up to 20 years in prison and a maximum fine of $250,000, followed by up to three years of supervised release. A federal district judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
IRS Criminal Investigation investigated the case.
Coronavirus Aid Relief and Economic Security (CARES) Act:
The Coronavirus Aid Relief and Economic Security (CARES) Act is a federal law enacted on March 29, 2020. It was designed to provide emergency financial assistance to the millions of Americans who suffered economic effects resulting from the COVID-19 pandemic. The CARES Act made Economic Injury Disaster Loan (EIDL) funding available to business owners negatively affected by the COVID19 pandemic. EIDL proceeds were funded by the Small Business Administration (SBA) and disbursed by the U.S. Treasury. EIDLs could only be used to pay fixed debts, payroll, accounts payable and other bills that could have been paid had the COVID19 disaster not occurred.
Paycheck Protection Program (PPP):
The PPP was a COVID-19 pandemic relief program administered by the SBA that provided forgivable loans to small businesses for job retention and certain other expenses. The PPP permitted participating third-party lenders to approve and disburse SBA-backed PPP loans to cover payroll, fixed debts, utilities, rent/mortgage, accounts payable and other bills incurred by qualifying businesses during, and resulting from, the COVID-19 pandemic. PPP loans were fully guaranteed by the SBA.
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www.justice.gov