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Texas Man Used Pandemic Business Loans to Buy Crypto, Feds Say

July 15, 2020, 3:44 PM

Federal authorities have charged a Houston man who allegedly provided false information to obtain more than $1 million in small-business stimulus loans that he used for cryptocurrency trading.

The U.S. Attorney’s Office for the Southern District of Texas said Joshua Thomas Argires submitted two Paycheck Protection Program loan applications in April.

Argires received $1.1 million in loans for a barbecue business and a landscaping business that he falsely claimed had numerous employees and significant payroll costs, the attorney’s office said Tuesday.

Argires is charged with wire fraud, bank fraud, making false statements to financial institutions, and unlawful monetary transactions. The...

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