{"id":20827,"date":"2021-05-12T20:01:48","date_gmt":"2021-05-12T20:01:48","guid":{"rendered":"https:\/\/www.kumasionlinegh.com\/?p=20827"},"modified":"2021-05-12T20:01:49","modified_gmt":"2021-05-12T20:01:49","slug":"man-charged-for-using-covid-loans-to-buy-ferrari","status":"publish","type":"post","link":"https:\/\/www.kumasionlinetv.com\/?p=20827","title":{"rendered":"Man charged for using COVID loans to buy Ferrari"},"content":{"rendered":"\n<p>A Southern California man has pleaded not guilty to charges he obtained $5 million in federal coronavirus-relief loans for phony businesses and then used the money for lavish vacations and to buy a Ferrari, Bentley and Lamborghini, prosecutors said Monday.<\/p>\n\n\n\n<p>Mustafa Qadiri, 38, was arrested last week on suspicion of scheming to defraud the Paycheck Protection Program, which was implemented last year to help small businesses struggling during the COVID-19 pandemic.<\/p>\n\n\n\n<p>Qadiri, of Irvine, pleaded not guilty Friday to multiple charges including bank fraud, wire fraud, aggravated identity theft, and money laundering, according to the\u00a0U.S. Attorney\u2019s Office. Qadiri\u2019s attorney, Bilal A. Essayli, declined further comment Monday.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/5gjo10K7wwraMhx1B_yWhg--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY1MS43MDQxODAwNjQzMDg3\/https:\/\/s.yimg.com\/uu\/api\/res\/1.2\/ujRIdwswKMnsy5LGZPtDnw--~B\/aD0zMzc4O3c9NDk3NjthcHBpZD15dGFjaHlvbg--\/https:\/\/media.zenfs.com\/en\/ap.org\/2be17d5137d456a94c672e761a4432f5\" alt=\"This photo provided by U.S. Immigration and Customs Enforcement shows a special agent with HSI Los Angeles's El Camino Real Financial Crimes Task Force seize a Ferrari from an Orange County businessman on Friday, April 7, 2021 Santa Ana, Calif. Mustafa Qadiri, 38, of Irvine, was named in a federal grand jury indictment and has pleaded not guilty to charges he obtained $5 million in federal coronavirus-relief loans for phony businesses and then used the money for lavish vacations and to buy a Ferrari, Bentley and Lamborghini, prosecutors said Monday, May 10. (U.S. Immigration and Customs Enforcement via AP)\"\/><figcaption>This photo provided by U.S. Immigration and Customs Enforcement shows a special agent with HSI Los Angeles\u2019s El Camino Real Financial Crimes Task Force seize a Lamborghini from an Orange County businessman on Thursday, April 6, 2021, in Irvine, Calif. Mustafa Qadiri, 38, of Irvine, was named in a federal grand jury indictment and has pleaded not guilty to charges he obtained $5 million in federal coronavirus-relief loans for phony businesses and then used the money for lavish vacations and to buy a Ferrari, Bentley and Lamborghini, prosecutors said Monday, May 10. (U.S. Immigration and Customs Enforcement via AP)<\/figcaption><\/figure>\n\n\n\n<p>Prosecutors said Qadiri submitted fraudulent PPP loan applications to three banks on behalf of four companies that didn\u2019t actually exist. The applications included altered bank records, fake tax returns and false information about employees, according to the indictment.<\/p>\n\n\n\n<p>Qadiri also used someone else\u2019s name, Social Security number and signature to fraudulently apply for one of the loans, prosecutors said.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/eU3CbQjVG1PEx9yI2AVMWw--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY0MA--\/https:\/\/s.yimg.com\/uu\/api\/res\/1.2\/koXnSeqafsSCz0d7lrANxQ--~B\/aD0zNDU2O3c9NTE4NDthcHBpZD15dGFjaHlvbg--\/https:\/\/media.zenfs.com\/en\/ap.org\/c67ae99f00a24e0fb660a7cb1ee4cdc5\" alt=\"This photo provided by U.S. Immigration and Customs Enforcement shows a special agent with HSI Los Angeles's El Camino Real Financial Crimes Task Force seize a Lamborghini from an Orange County businessman on Thursday, April 6, 2021, in Irvine, Calif. Mustafa Qadiri, 38, of Irvine, was named in a federal grand jury indictment and has pleaded not guilty to charges he obtained $5 million in federal coronavirus-relief loans for phony businesses and then used the money for lavish vacations and to buy a Ferrari, Bentley and Lamborghini, prosecutors said Monday, May 10. (U.S. Immigration and Customs Enforcement via AP)\"\/><\/figure>\n\n\n\n<p>He received $5 million in loans that investigators said he used to pay for trips, sports cars and personal expenses.<\/p>\n\n\n\n<p>Federal agents have seized the Ferrari, Bentley and Lamborghini cars that Qadiri purchased, along with about $2 million from his bank accounts, prosecutors said.<\/p>\n\n\n\n<p>U.S. District Judge Josephine L. Staton scheduled a jury trial for June 29. Qadiri was released on $100,000 bond.<\/p>\n\n\n\n<p>Source:\u00a0Adomonline<\/p>\n\n\n\n<p><strong>Send your news stories to\u00a0<a href=\"mailto:dannyboy744@gmail.com\">dannyboy744@gmail.com<\/a>\u00a0and via WhatsApp on +233 266777777<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Southern California man has pleaded not guilty to charges he obtained $5 million in federal coronavirus-relief loans for phony businesses and then used the money for lavish vacations and to buy a Ferrari, Bentley and Lamborghini, prosecutors said Monday. Mustafa Qadiri, 38, was arrested last week on suspicion of scheming to defraud the Paycheck [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":20828,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"iawp_total_views":0,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-20827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Man charged for using COVID loans to buy Ferrari - Kumasi Online TV<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.kumasionlinetv.com\/?p=20827\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Man charged for using COVID loans to buy Ferrari - Kumasi Online TV\" \/>\n<meta property=\"og:description\" content=\"A Southern California man has pleaded not guilty to charges he obtained $5 million in federal coronavirus-relief loans for phony businesses and then used the money for lavish vacations and to buy a Ferrari, Bentley and Lamborghini, prosecutors said Monday. 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