The individuals fraudulently took millions in federal funds intended to help businesses in need, a federal indictment alleges.
Seven people in the Chicago area are facing federal charges for collecting at least $16 million in COVID relief money, the U.S. attorney’s office announced Thursday. The individuals are charged with wire fraud and money laundering after using small business grants and loans for personal use, a 31-page federal indictment states.
The alleged fraud is tied to a loan program under the Coronavirus Aid, Relief and Economic Security Act. The program, known as the Economic Injury Disaster Loan is designed to provide loan assistance and grants for small businesses affected by the pandemic.According to the indictment, the individuals applied for EIDL relief money in 2020, claiming to own and operate several businesses in Illinois and Florida.
The individuals received up to $16 million, which they allegedly used for personal gain through cash withdrawals and transfers.The seven charged are: Maja Nikolic, 34, of Brookfield, Marko Nikolic, 34, of La Grange, Nebojsa Simeunovic, 37, of Lyons, Mijajlo Stanisic, 33, of Willowbrook, Branko Aleksic, 33, of Chicago, Milica Sumakovic, 31, of Chicago, and Dorde Todorovic, 32, of Chicago.
They face up to 20 years in prison for each wire fraud and money laundering charge. Arraignments in Chicago’s federal court have yet to be scheduled.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Seven Chicago-area residents got $16M in fraudulent COVID-19 relief funds: fedsSeven Chicago-area residents have been indicted for allegedly obtaining at least $16 million in fraudulent COVID-19 relief loans for various businesses they claimed to own and operate in Illinois and Florida, federal prosecutors said.
Read more »
Stimulus 2022: Residents in Maine have 12 days to claim $850 relief checksMaine residents have under two weeks to claim up to $850 in COVID-19 relief, thanks to a state budget surplus.
Read more »
IRS Extends Filing Date For 2019 & 2020 Tax Returns For COVID Penalty Relief In Disaster AreasUnder Notice 2022-36, penalties for late-filing certain tax returns, as well as penalties for not reporting certain required information on the Form 1065 or Form 1120-S, are waived or abated if the relevant return was filed on or before Sept. 30, 2022.
Read more »
Man indicted for ‘straw purchasing’ 27 guns in Indiana for Chicago residentA man is facing federal charges for allegedly buying 27 guns in Indiana on behalf of a Chicago resident.
Read more »
COVID subvariants: What to know and should you be concerned?In Oct. 12, there were more than 1.66 million COVID-19 cases recorded across the continent up from more than 1.53 million cases recorded in Oct. 5.
Read more »