A Chinese national has pleaded guilty after being accused of cheating the federal government and banks to obtain tens of millions of COVID-19 relief loans meant for small businesses. He could be sentenced to up to 32 years in prison, the Justice Department said in a June 15 press release. The 37-year-old New York resident, named Muge Ma, also known as Hummer Mars, had been detained and accused since May 21, 2020, of fraudulently attempting to claim over $20 million of government-backed loans for two of his companies—New York International Capital LLC (NYIC) and Hurley Human Resources LLC (Hurley). Evidence shows that he paid millions of dollars in wages to hundreds of employees, but Ma was later found to be the sole employee of both companies. The false representations made to the Small Business Administration (SBA) and at least five financial institutions include a range of falsified and doctored bank …

Originally found on the Epoch Times Read More



Leave a Comment