A Massachusetts businessman has been convicted of fraudulently seeking more than $13 million in federal coronavirus pandemic relief loans.
Federal prosecutors say 40-year-old Elijah Majak Buoi, of Winchester, was convicted Thursday of wire fraud and making a false statement to a financial institution following a trial in Boston federal court.
Prosecutors say Buoi submitted six federal loan applications but misrepresented the number of employees and payroll expenses for his startup company.
They also say he submitted fraudulent IRS tax forms. Buoi’s lawyer says his client was “mislead” by a bank loan officer and made a “good faith mistake” in completing the forms.
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Copyright AP - Associated Press