Two McLean, Va., companies, alongside their CEO, have been ordered to pay $1,052,227 for submitting fraudulent applications to obtain federally guaranteed loans through the Small Business Administration’s Paycheck Protection Program, according to the Justice Department Friday.
IT Services Now LLC , O@sis Group LLC, and their CEO, Mustafa Khabir, allegedly obtained $460,300 after submitting four PPP applications using false information. Khabir and the companies allegedly misrepresented their payroll and employee counts, and submitted fabricated payroll and tax documents, said the DOJ.
After receiving two loans, Khabir allegedly then used the funds to invest in cryptocurrency, the agency said. His ...
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