GREEN BAY, Wis. (WBAY) – Four men were sentenced in federal court to up to 150 months in prison for COVID loan fraud.
Divine-Seven El received a 150-month sentence. Minister Zakar Ali was sentenced to 140 months in prison. Aziz Hassan Bey was sentenced to 106 months. Letez Osiris Bey received an 80-month sentence.
According to federal prosecutors, the man conspired to obtain nearly $10 million in COVID-era loans from the Small Business Administration and private lenders, including the Paycheck Protection Program and Economy Injury Disaster Loan program.
They applied as businesses that didn’t exist, lied about the companies’ number of employees and revenues, and falsified supporting documents.
The Beys and Ali also schemed to cheat state workforce agencies by applying for unemployment insurance in states where they didn’t live or using the names of other individuals.
Aziz Bey, Ali, and El also submitted false information to the Wisconsin Department of Motor Vehicles to remove liens on vehicles, allowing them to keep or sell vehicles without repaying more than $480,000 in loans. They included a Land Rover, BMW, and Corvette.
Prosecutors say Aziz Bey used proceeds from the fraud to buy a Maserati and El used them to buy a Porsche, as well as write large checks to each other or themselves and fund a lavish lifestyle.
The four men were indicted in 2022 and found guilty by a jury last October.
Read more
https://www.wbay.com/2024/02/05/four-men-sentenced-wisconsin-covid-loan-fraud/
