Late last month, the United States Department of Justice (DOJ) announced that a 33-count indictment showed that seven Chicago-area residents engaged in fraud related to the Economic Injury Disaster Loan Program (EIDL) and allegedly fraudulently obtained at least $16 million in small business loans and grants under the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act. Each wire fraud and money laundering charge is punishable by up to 20 years in federal prison.
Just two days before that, a United States District Court Chief Judge imposed a 21-month sentence on a 28-year-old Merrillville man for stealing money from customers’ accounts. He pleaded guilty to white collar federal criminal charges of wire fraud, aggravated identity theft, and money laundering.
Possible Consequences of Federal Fraud Crimes
The federal government pursues a great many kinds of fraud cases, and fraud can involve many different aspects of everyday life. The United States Attorneys' Office will aggressively pursue convictions in these types of cases and all alleged offenders will need to invest in having experienced legal representation capable of providing a solid defense against the charges in court.
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