A New Jersey man was indicted on charges that he fraudulently obtained hundreds of thousands of dollars of Economic Injury Disaster Loans and Paycheck Protection Program funds, the Justice Department announced Thursday.
According to the DOJ, Malak Faltawws fraudulently obtained hundreds of thousands of dollars meant for distressed small businesses under the EIDL program and PPP, by submitting false and fraudulent applications, inflating his businesses’ revenue, payroll expenses, and number of employees. After receiving the fraudulent funds, he diverted the proceeds for his personal gain.
He is charged with three counts of wire fraud and two counts of money ...
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