CONCORD, N.H. — A 44-year-old California man has pleaded guilty to charges that he fraudulently tried to obtain more than $3.5 million in pandemic funds and bought a Rolls Royce with some of the proceeds he did receive, the U.S. attorney’s office in New Hampshire said Tuesday.
Court documents say the man from Irvine, California, entered the plea Tuesday in federal court in Concord.
Prosecutor say the man and his partner agreed to fraudulently apply for CARES ACT funds under the Paycheck Protection Program and Economic Injury Disaster Loan programs, which had been authorized by Congress to help millions of Americans and many small businesses hurt during the early stages of the COVID pandemic.
Prosecutors say the defendant who entered the plea Tuesday used nearly $108,000 of proceeds from the Paycheck Protection Program to purchase a Rolls-Royce Ghost.
The man is scheduled to be sentenced on January 31 and pay restitution of nearly $804,000. His attorney did not respond to an email seeking comment.
The second defendant previously pled guilty to bank fraud and wire fraud and is also scheduled to be sentenced in January.