A Connecticut couple reportedly paid $169,000 in response to allegations of COVID-19-relief loan fraud.
According to a March 30 news release issued by the U.S. Department of Justice, Janine E. and Gerard Carbonaro, of Oxford, paid $169,563.60 to resolve allegations they deceitfully abused $109,000 in small business loans and grants/advances under the Coronavirus Aid, Relief and Economic Security Act.
“These individuals, motivated by greed, chose to defraud programs intended to bring relief to those in need," David Sundberg, special agent-in-charge of the New Haven FBI field office, said. "Justice has prevailed and we will continue to pursue every opportunity to combat COVID-19 relief fraud in the state of Connecticut.’’
“The Justice Department and our federal investigative partners continue to uncover those who violated the terms of CARES Act business loan programs and misused the funds they received, and we are committed to pursuing civil or criminal penalties against wrongdoers" U.S. Attorney Leonard Boyle said.
The CARES Act was intended to give emergency aid to families, individuals and businesses impacted by the coronavirus pandemic. Section 1110 of the CARES Act allowed the U.S. Small Business Administration to give Economic Injury Disaster Loans to aid against the negative consequences of the coronavirus by giving working capital to eligible small businesses, including owners, to pay operating costs.
