DOJ v. Jose Biaou

Jose Biaou was found guilty on seven counts in connection with defrauding Covid-era economic programs out of millions of dollars in taxpayer-provided emergency funds, according to the DOJ. Biaou was convicted of six counts of wire fraud and one count of aggravated identity theft. Biaou allegedly applied for more than $5 million in loans and received more than $3.5 million in proceeds from the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) program on behalf of FRB and, Millennium Global Finance. Biaou allegedly falsely claimed that he was a U.S. citizen and provided a counterfeit birth certificate. Biaou allegedly inflated the number of FRB employees, as well as their average monthly salaries, office rents, and other financial information. Biaou allegedly applied for forgiveness of one of the PPP loans and submitted false information about how his business spent the funds during the pandemic. Biaou allegedly applied for and received $1.25 million in PPP funds for Millennium Global Finance.

Summary generated from official Department of Justice press release