Tech Executive Pleads Guilty To PPP Fraud
March 16, 2021 10:42AM PDT
Credit: MGN
SEATTLE (AP) – Federal prosecutors say a Washington state tech executive has pleaded guilty to wire fraud and money laundering after obtaining $5.5 million in Paycheck Protection Program loans and laundering the proceeds.
Mukund Mohan of Clyde Hill was charged in July 2020.
He agreed to a plea deal on Monday.
Acting U.S. Attorney Tessa Gorman says he’s scheduled to be sentenced on July 20.
Gorman says Mohan submitted at least eight fake PPP loan applications for six different companies to federally insured financial institutions.
He made false and misleading statements about the companies to support the fake applications.
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