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Washington, Aug 25 (PTI) A 48-year-old Indian-origin tech executive in the US has been sentenced to two years in prison for fraudulently obtaining nearly USD 1.8 million in federal COVID-19 disaster relief loans.<\/p>\n
Mukund Mohan of Clyde Hill in Washington state pleaded guilty to charges of wire fraud and money laundering on March 15, the US Department of Justice said.<\/p>\n
Mohan, who had past gigs at Microsoft and Amazon, falsified employment documents to fraudulently receive the loans through the government’s Paycheck Protection Programme for companies that he purportedly ran.<\/p>\n
He applied for USD 5.5 million in loans with falsely altered documents and received about USD 1.8 million before he was arrested in July 2020.<\/p>\n
Mohan was sentenced on Tuesday in the Western District of Washington to two years in prison.<\/p>\n
According to court documents, Mohan sought more than USD 5.5 million through eight fraudulent disaster loan applications.<\/p>\n
In support of the fraudulent loan applications, Mohan submitted fake and altered documents, including fake federal tax filings and altered incorporation documents.<\/p>\n
Mohan misrepresented to a lender that, in 2019, his company Mahenjo Inc had dozens of employees and paid millions of dollars in employee wages and payroll taxes, the Justice Department said.<\/p>\n
In support of Mahenjo’s loan application, Mohan submitted false incorporation documents and tax forms suggesting that the company had been in business before 2020, it said.<\/p>\n
In truth, Mohan purchased Mahenjo in May 2020. At the time he purchased the company, it had no employees and no business activity.<\/p>\n
The incorporation documents that he submitted to the lender were altered and the federal tax filings he submitted were fake.<\/p>\n
Five of Mohan’s eight fraudulent loan applications were approved, and he fraudulently obtained nearly USD 1.8 million in COVID-19 relief funds.<\/p>\n
In addition to the prison sentence, Mohan was ordered to pay a fine of USD 100,000 and USD 1,786,357 in restitution.<\/p>\n","protected":false},"excerpt":{"rendered":"
Washington, Aug 25 (PTI) A 48-year-old Indian-origin tech executive in the US has been sentenced to two years in prison for fraudulently obtaining nearly USD 1.8 million in federal COVID-19 disaster relief loans. Mukund Mohan of Clyde Hill in Washington state pleaded guilty to charges of wire fraud and money laundering on March 15, the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":{"0":"post-170099","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-world"},"_links":{"self":[{"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/posts\/170099","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/comments?post=170099"}],"version-history":[{"count":0,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/posts\/170099\/revisions"}],"wp:attachment":[{"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/media?parent=170099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/categories?post=170099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/tags?post=170099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}