Chicago Man Charged in $6.3 Million Covid Relief Fraud Scheme

A Chicago businessman has been indicted for scheming to fraudulently obtain more than $6.3 million in small business loans and grants under the Coronavirus Aid, Relief, and Economic Security Act, the Justice Department announced Wednesday.

According to the DOJ, Francesco Distefano worked with Sargis Urumieh to apply for and obtain loans and grants for West Coast POS and National POS, two companies where Urumieh served as a corporate officer. Distefano also applied for and obtained loans for Distefano Enterprises, an entity that he owned and controlled. The applications contained numerous false statements and misrepresentations regarding the companies’ operations, including ...