Omaha Resident Accused of Business Loan Fraud | Nebraska News

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OMAHA, Nebraska (AP). An Omaha resident was indicted on federal bank fraud charges after prosecutors said he lied to get a loan under a federal program designed to help businesses battling the COVID-19 pandemic.

Next month M.A. Yahu will be indicted in court and face up to 30 years in prison. Nebraska said in a press release.

The indictment against Yaha states that he was the director of The Heartland News – a nonprofit newspaper with a mission to end poverty and homelessness in the region – when in April 2020 he applied for a payroll protection loan of over $ 100,000 for a business. Yah said the loan was supposed to bolster the newspaper’s payroll, but prosecutors said he lied about the number of employees and wages of the nonprofit compared to the previous year.

On Tuesday, during a telephone conversation, Yah denied the prosecution’s allegations, but said he could not comment on the charges yet. Yah said he plans to hire a lawyer this week to rebut the charges.

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