Luxury LifeStyle – Leesburg Man Faces 30 Years In Prison For $2.5M PPP loan Fraud
LEESBURG, VA —A 49-year-old Leesburg man faces up to 30 years in prison after he pleaded guilty Thursday to fraudulently obtaining more than $2.5 million in payroll protection program loans and then using the funds for personal purposes, federal prosecutors announced.
Didier Kindambu obtained the loans which were designed by Congress to assist business owners affected by the coronavirus pandemic continue to pay their employees, court documents show. The U.S Attorney for Eastern Virginia announced that Kindambu obtained the loans in connection with two businesses that he owns by creating fraudulent payroll documents for each of his business and then submitting loan applications for PPP funds, prosecutors said.
Officials said that the documents purported that the businesses had dozens of employees with millions of dollars in expenses. In reality, documents show, the businesses had few – if any – employees. In total, Kindambu collected $2,501,753 in PPP loans and then spent those funds on non-business related items, including a Lexus and Cessna aircraft, personal taxes and on the down payment on a luxury residence in Leesburg, documents show. He also used the funds for other personal items such as clothing, jewelry and shoes.
“At a time when countless families and business owners nationwide are struggling to make ends meet during the ongoing pandemic, Didier Kindambu committed a multimillion-dollar bank fraud by misappropriating COVID-19 taxpayer relief funds to pay for his lavish lifestyle,” Raj Parekh, Acting U.S. Attorney for the Eastern District of Virginia said in a news release. “Together with our law enforcement partners, this office will continue to prosecute and bring to justice those who seek to exploit essential pandemic recovery programs and profit from the misfortunes of others for personal gain.”
Kindambu is scheduled to appear in court on Aug. 4 and could face up to 30 years in prison after pleading guilty to bank fraud. Actual sentences for federal crimes are typically less than maximum penalties, prosecutors said. A federal district court judge will determine the length of the sentence.
This article originally appeared on the Leesburg Patch