Home Business Two men charged with SBA fraudulent loan scheme

Two men charged with SBA fraudulent loan scheme



BOSTON (AP) – People in Massachusetts and New Hampshire have been indicted for their alleged role in using stolen identity to fraudulently obtain more than $ 450,000 in disaster loans from the Small Business Administration.

Federal prosecutors said on Monday that Edwin Acevedo, 35, of Acton, Massachusetts, and Hector Garcia, 49, of Manchester, New Hampshire, were arrested last week and charged with conspiracy to commit electronic communications fraud. … Garcia was also charged with aggravated identity theft. Authorities say about $ 250,000 of that money was spent on iPhones, which were then resold.

The letter was left to Acevedo’s lawyer. Garcia’s lawyer is not listed in the court records.

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