A Massachusetts man was sentenced in federal court in Boston for PPP Loan Fraud and for obtaining multiple (fraudulent) CARES Act Loans.
Daniel Olivar of Lynnfield was sentenced in Federal District Court to six months in prison, to be followed by three years of supervised release with the first six months to be served in home confinement.
He was ordered to pay restitution in the amount of $50,844. In August 2023, Olivar pleaded guilty to four federal counts of wire fraud.
The federal case involved Olivar’s’ gym, Sonny’s Boxing and Fitness, Inc, based in Middleton. He filed false applications and obtained multiple CARES Act loans for the gym, including an Economic Injury Disaster Loan, and a PPP loan. He also fraudulently collected unemployment benefits with the State of Massachusetts, falsely claiming that he was laid off from Gold’s Gym.
What is PPP Loan Fraud?
Do you need a Lawyer for PPP Loan Fraud then contact Vikas Dhar today, we have handled significant PPP loan cases. PPP Loan Investigations will be ongoing for a long time to come. If you are concerned about an investigation that is pending then please reach out to us today.
Investigators are sifting through the data and arrests and convictions will result. If you believe you are being investigated for PPP Loan Fraud, you should act without delay to protect yourself. If prosecutors can secure a conviction your life will change irrevocably and in addition to prison sentences you could be compelled to pay substantial fines.
Hiring an experienced PPP loan fraud lawyer and white collar crimes defense attorney is essential. An experienced federal criminal defense attorney will defend your rights in court and scrutinize all the evidence against you.
At Dhar Law, LLP, we are award winning white collar defense attorneys who have defended countless serious crimes in state and federal court. If you or someone you know is being investigated for PPP Loan Fraud, please don’t hesitate to contact our experienced criminal defense team immediately. Please contact our offices or text us today at 617-880-6155 for a free consultation.
