A Houston man faces charges related to fraudulently obtaining more than $ 1.1 million in coronavirus relief funds, according to a criminal complaint released Monday.
The complaint charges Joshua Thomas Argires, 29, of making false statements to a financial institution, wire fraud, bank fraud and engaging in illegal monetary transactions, the United States Department of Justice said in a press release. Argires was arrested Monday and appeared in court before US Magistrate Judge Peter Bray.
Joshua Thomas Argires made his initial appearance in court on Monday.
(justice.gov)
According to the complaint, Argires allegedly submitted two fraudulent loan applications to federally insured banks seeking more than $ 1.1 million in forgivable loans. Pursuant to the Coronavirus Financial Aid, Aid and Relief Act passed in March, the Small Business Administration guarantees loans for coronavirus relief funds through the Paycheck Protection Program.
The fraudulent loan applications that Argires allegedly submitted were on behalf of two companies, Texas Barbecue and Houston Landscaping. The complaint accuses Argires of claiming that they had numerous employees requiring hundreds of thousands in payroll expenses.
SECRET SERVICE CLAIMS $ 1B IN PREVENTED CORONAVIRUS FRAUD LOSSES, POSSIBLE A POTENTIAL RISK OF $ 30B
The complaint says that neither Texas Barbecue nor Houston Landscaping have employees or pay wages consistent with the amount requested in PPP applications. In addition, it alleges that the funds received for Texas Barbecue were invested in a cryptocurrency account, while those received for Houston Landscaping were held in a bank account and were slowly withdrawn through an ATM.
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Congress passed the CARES Act on March 29. The bill was intended to provide emergency relief funds to millions of Americans financially affected by the coronavirus pandemic. Lawmakers followed that up less than a month later with an additional $ 300 billion in PPP funds.
