The coronavirus pandemic has yielded plenty of good stories and also plenty of scammers surrounding the Paycheck Protection Program. After Baby Blue of Pretty Ricky was busted in a COVID scheme, a Dallas man almost one-upped him.
According to the Justice Department, 55-year-old Dinesah Sah finessed $24.8 million from the government for a Paycheck Protection Program loan, of which he received $17.7 million. Instead of spending that money on his business, Sah spent it on luxury cars and houses.
How did Sah receive the money? He falsified business information on 15 loan applications. He didn’t have a real business or employers yet he was able to use the funds given to him by the government to by a 2020 Bentley convertible, other luxury cars and multiple homes. He also made several international money transfers.
The Dallas native was charged with three counts of wire fraud, three counts of bank fraud and one count of money laundering.
“Mr. Sah looked at the Paycheck Protection Program as his own personal piggy bank, treating himself to not only millions in cash, but several luxury vehicles and properties, all while legitimate small business owners in the United States desperately sought out ways to put food on their tables and to ensure their employees were paid,” IRS agent Tamera Cantu said in a press release.
Sah’s case is only the latest of PPP fraud including Baby Blue, former New York Jets wide receiver Josh Bellamy and others.