Monthly Archives: August 2020

“Serial entrepreneur” fraudulently receives millions in federal payment loans for counterfeit companies, DOJ allegations

A 24-year-old self-proclaimed “serial entrepreneur” is accused of fraudulently soliciting more than $ 7 million in federal wage funds by claiming his Manhattan company employed more than 200 employees, the Department of Justice announced Tuesday. Sheng-Wen Cheng, 24, is charged with various counts of fraud, including major United States fraud, …

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