Morocco resident, Nasser Salman has been arraigned in a US federal court for allegedly defrauding more than $400,000 in COVID-relief loan funds, according to the U.S. Attorney’s Office, Southern District of California.
Salman is accused of submitting fraudulent applications for three companies that included false information about the number of employees, the average monthly payroll, and the gross receipts earned by these companies. Salman also submitted fictitious documents to support the applications.
Between April and August 2020, Salman obtained five separate PPP and EIDL loans totaling $401,000, according to the indictment.
Despite acknowledging that the funds must be used to retain workers and maintain payroll or for mortgage interest payments, lease payments, and utility payments, Salman allegedly engaged in a series of financial transactions to conceal and disguise the fact that the sources for the funds were the fraudulently obtained loans.
The transactions included international wire transfers to a bank account based in Morocco.
“These loan programs were designed to render economic relief to Americans during an unprecedented public health emergency,” said U.S. Attorney Randy Grossman. “This office is dedicated to investigating and prosecuting those who exploited the global pandemic to enrich themselves. We encourage anyone with information regarding individuals who have engaged in COVID-relief fraud to come forward.”
Salman’s detention hearing is scheduled for May 9, 2023, at 9:30 a.m. before U.S. Magistrate Judge Barbara L. Major. He risks up to 30 years in prison.
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