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Minneapolis, MN (KROC-AM News) - A Twin Cities businessman has been indicted on a federal fraud charge for allegedly using hundreds of thousands of dollars from a federal government's coronavirus relief program to enrich himself.

A news release from the US Attorney for Minnesota alleges 47-year-old Aditya Raj Sharma of Maple Grove submitted a fraudulent loan application for over $562,000 through the US Small Business Administration Paycheck Protection Program. Federal prosecutors allege Sharma falsely claimed he was the CEO of a cloud computing technology company that was in operation in mid-February with almost 30 employees on the payroll even though he did not create the corporation until May. It is also alleged he fabricated bank account statements to support his fraudulent application for the forgivable loan.

The news release says the indictment alleges Sharma transferred approximately $500,000 in PPP funds to a personal bank account and used $5000 for a down payment on the installation of a $64,000 swimming pool at his personal residence. It is also alleged that he transferred about $14,000 to a financial account in India.

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