On Thursday, a man from New Jersey was sentenced to more than two years in federal prison for stealing more than $481,000 in COVID relief funds.
Acting US Attorney Rachael A. Honig announced that Bernard Lopez, 40, of Sayreville, was sentenced to 30 months in prison for receiving fraudulent Payment Protection Program [PPP] funds for a fake business and depositing a stolen, altered treasury check for $211,886.87.
Court documents show that Lopez allegedly deposited the US Treasury check into a company called Pezlo Management, LLC. However, before the bank could identify the fraud, he removed the money from the fictitious corporate account.
Lopez filed a fraudulent PPP loan on behalf of “Company-1,” a fake company he claimed to own, in June 2020. The loan was intended to help small businesses struggling during the pandemic.
According to investigators, Lopez claimed his company had 25 employees, $192,000 in monthly payroll costs, plus other mortgage and utility costs. Lopez’s application was approved, and he got $481,502 in emergency relief payments that he spent on personal use.
In July of last year, Lopez was arrested after a multi-agency investigation in Florida and was later transferred back to NJ by authorities.
In addition to his two years in prison, Lopez was also sentenced to three years of supervised release, as well as $137,000 in reparations and forfeiture of $481,502.
This is crazy