The US authorities have accused a California resident, Mustafa Qadiri, of fraud. He received a $5.1 million loan from the authorities to support his business during the pandemic. However, he spent the money on himself. Most of the money was spent on replenishing his personal car fleet with supercars.
How Did A Man Cheat On The Payment Protection Program?
According to the prosecutor's office, from May to June 2020, Mustafa Qadiri applied to several banks at once for receiving money under the business support program, focused primarily on paying salaries to employees. At the same time, the suspect managed to draw up four applications for non-working companies.
With a total of $5.1 million, Mustafa Qadiri took himself a luxury vacation, deposited some of the funds in a private bank account, and bought a 2011 Ferrari 458 Italia, a 3-year-old Lamborghini Aventador S, and a 2020 Bentley Continental GT. In addition, he used someone else's name, as well as Social Security number, and signature on the applications.
However, secrets often have a tendency to get out. Qadiri has now been indicted on multiple counts, including banking and electronic fraud, identity fraud, and money laundering. If found guilty on all counts, he can face a total of 302 years in prison.
The Consequences Of This Incident
Most of the money and funds are already seized. It was easy to get the cars: a 2011 Ferrari 458 Italia and a 2018 Lamborghini Aventador S were registered to the same company called "All American Capital Holdings." It was mentioned in one of Mustafa's applications.
The mid-engined two-seater coupe Ferrari 458 Italia, which replaced the Ferrari F430, began production in Maranello in 2009. The car was equipped with a 4.5-liter V8 petrol engine with a capacity of 570 hp. The car is equipped with a seven-speed robotic gearbox from Getrag. This was the first mass Ferrari that did not have a version with mechanics. The price of this car is around $100,000.
By the way, similar charges were brought in the United States many times in the middle of last year. One of the accused spent money on a house, yacht, and Kia Stinger, while another bought a Lamborghini Huracan for $ 318,000.
Source: U.S Immigration And Customs Enforcement