Indictment — No. 1:24-cr-00323 (Dkt. 1, D.D.C.)

Summary

An indictment filed July 16, 2024 as Document 1 in United States v. Jose Biaou, Case 1:24-cr-00323-CRC, in the U.S. District Court for the District of Columbia, citing wire fraud under 18 U.S.C. § 1343 and theft of government property under 18 U.S.C. § 641. The grand jury charges that the defendant, Chief Executive Officer of FRB Capital Group LLC, submitted three PPP loan applications and two EIDL applications with false employee, payroll and revenue figures. It states JP Morgan funded a $225,000 PPP loan, PNC funded $222,500 for FRB and $1,250,000 for Millenium Global Finance, and the SBA transferred $1,877,500 in EIDL proceeds, while a second EIDL application was rejected. Counts One through Six charge wire fraud and Count Seven charges theft; forfeiture includes a 2010 Porsche and a money judgment.

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