Couple charged with defrauding Paycheck Protection Program of $1M
A Buffalo man and an Oklahoma woman are charged with allegedly defrauding the COVID-relief Paycheck Protection Program of $1 million.
According to James Kennedy, U.S. Attorney for the Western District of New York, Adam Arena, 44, and Amanda Gloria, 44, face a lengthy list of charges, including bank fraud, which carries a maximum sentence of 30-years in prison.
Authorities say the pair submitted a false loan application and used a portion of proceeds on personal expenses, including the purchase of two cars.
The Justice Department reported it has prosecuted 70 cases of defrauding the CARES Act. A Disaster Fraud Hotline has been established at 866-720-5721.