September 27, 2022

Unitranche

Supportive Business Potential

Mass. man convicted of fraudulently seeking $13M in COVID-19 loans

EY GENERAL THIS MORNING. JAT:NE THE PANDEMIC HAS CONSUMED OUR LIVES. YOU’VE CAPTURED NATIONAL ATTENTION FOR GOING AFTER CORPORATIONS AND THE TRUMP ADMINISTRATION. OUR RECENT GUEST SAID FRAUD NEEDS TOE B TARGETED IN ALL OF WHAT IS HAPPENED WHIT THE PANDEMIC. >> I THINK THAT WORK IS UNDERWAY. FOR WELL OVER A YEAR, WE’VE BEEN GOING AERFT FOLKS WHO DUPED OUR CITIES AND STATE INTO PRODUCING MASKS ANOTD HER THINGS THAT DIDN’T SHOW UP. WE HAVE GONE AFTER THOSE THAT WERE SELLING FAKE HAND SANITIZER. WE’VE GONE AFTER THOSE WHO HAVE ATTEMPTED TO DEFRAUD OUR UNEMPLOYMENT. I CERTAINLY WELCOME THE U.S. ATTORNEY WHEREVER THERE IS FRAUD. I FOCUSED ATTENTION ON PROTECTING WORKERS DURGIN THE PANDEMIC. TEXTING TENANTS FROM EVICTION, PROTECTING OUR HEALTH CARE PROVIDERS. WORKING TO MAKE SURE THATN I OUR COMMUNITIES OF COLOR, WE ARE GETTING THERE WITH TESTING AND VACCINATION. WE WILL CONTINUE TO BE. EQUITY SHOULD BE A CENTERPIECE OF WHAT WE DO AND THE WORK AND FOCUS. AS AOR FMER CIVIL RIGHTS LAW YOUR, I HEAV FOCUSED ACROSS SO MANY REALMS OF PUSHING EQUITY, WHETHER IT’S IN HOUSING OR HEALTH CARE OR CRIMINAL JUSTICE. COVID HAS TAUGHT US A LOT OF THINGS. WE HAVE LEARNED HOW RESILIENT WE ARE. WE HAVE LEAEDRN HOW VAST SOME OF THESE DISPARITIES ARE. NOW IS THE TIME TO FIX THIS. ED: COVID HAS PUT A LOT OF THINGS IN ONFRT OF US. THE STATE APPEALS COURT JUDGE PUT A TEMPORARY STAY ONHE T VACCINE MANDATE FOR CITY WORKERS. SHOULD GOVERNMENT HAVE THE RIGHT TO REQUIRE PUBLIC-HEALTH MANDATES? >> WEEED N TO BE GUIDED BY SCIENCE AND BY THE DATA. I THINK WE NEED TO DEMONSTRATE FLEXIBILITY AND THINGS MAY CHANGE WEEK TO WEEK. WE ARE IN THIS TOGETHER. WE NEED TO FIND A WAY TO SUPRTPO ONE ANOTHER. THE MORE PEOPLE WHO ARE VACCINATED THE BETTER. GOING GET VACCINATED. IF YOU ARE BOOSTED YET, GO GET BOOSTED. ISTH IS GOING TO HELP ALL OF US. I REQUIRED IT IN MY OFFICE. IT IS WORKED OUT WELL. I RESPECT THE DECISIONS MADE BY EXECUTIVES AND OTHER PLACES. IT’S ENCOURAGING TO SEE THE VACCINATION RATES GO UP AND SEE THAT MASSACHUSETTS HAS LED THE WAY. WE HAVGOE T TO CONTINUE WITH THAT. JANET: POLICE MISCONDUCT HAS BEEN A BIG CONVERSATION FOR SEVERAL YEARS. REPORTS OF MAJOR PROBLEMS AT THE STATE POLICE, WHICH WORKS CLOSELY WITH YOUR OFFICE. HOW WOULD YOU CHANGE THE POLICE CLIMATE IN MASSACHUSETTS? >> SUPPORTING THE NEW POST COMMISSION IT, I SUPPORTEDHE T LEGISLATION WHICH CREATED A NEW COMMISSION TO EVALUATE TRAINING AND STANDARDS FOR POLICE. I WILL CONTINUE TO SUPPORT TRAINING FOR POLICE OFFICERS. I WILL CONTINUE TO SUPPORT EFFOSRT TO BUILD BRIDGES AND TRUST BETWEEN POLICE AND COMMUNITIES. THIS IS INCREDIBLY IMPORTANT. I’VE BEEN A LEADER ON THIS IN THE COMMONWEALTH AND WOULD LOOK TO TAKE THAT FORWARD AS GOVERNOR. JAT:NEO D YOU SUPPORT LOWERING BUDGETS? >> WE NEED TO HELP POLICE DEPARTMENTS WITH THE SUPPORT THEY NEED AND GIVE THE COMMUNITIES THE SUPPORT THEY NEED. SO MANYALLS C ARE FOR MENTAL HEALTH ISSUES, THE MYSTIC VIOLENCE. WE NEED TO EMPOWER OUR CITIES AND TOWNS WITH THE RESOURCES TO SERVE THOSE RESIDENTS. POLICE A BEEN RESPONDING TO THINGS THAT WERE NEVER PART OF WHAT THEIR JOB WAS SUPPOSETOD BE. WE CAN DO BETTER AND WE MUST. ED: YOU’VE HEARD OF THE AGING CURSE. THE LAST SIX ATTORNEY GENERALS HAVE LOST. DO YOU BELIEVE IN THIS THING? >> I AM LUCKY TO SEE SOME CURSES BROKEN. I HOPE WE CAN BREAK THIS ONE.

IT company owner from Massachusetts convicted of fraudulently seeking $13 million in COVID-19 loans

A Massachusetts businessman has been convicted of fraudulently seeking more than $13 million in federal coronavirus pandemic relief loans, federal prosecutors said. Elijah Majak Buoi, 40, of Winchester, was convicted Thursday of four counts of wire fraud and one count of making a false statement to a financial institution following a three-day trial in Boston federal court, according to U.S. Attorney for Massachusetts Rachael Rollins’ office.Prosecutors said Buoi submitted six loan applications through the Paycheck Protection Program but misrepresented the number of employees and payroll expenses for his startup company, Sosuda Tech. He also submitted fraudulent IRS tax forms to support his applications, they said. The loan program was part of the Coronavirus Aid, Relief and Economic Security, or CARES, Act that allowed qualifying small businesses and other organizations to receive forgivable loans to cover payroll, mortgages, rent and utilities.Buoi was able to obtain a $2 million loan before he was arrested in June 2020. Rollins’ office said the government has recovered nearly all of the money.Buoi’s lawyer Bryan Owens said Sunday that his client was “mislead” by a bank loan officer and made a “good faith mistake” in completing the tax forms. He added that Buoi is a “dedicated family man” who has “overcome tremendous obstacles in his life.” Buoi is due to be sentenced in June.

A Massachusetts businessman has been convicted of fraudulently seeking more than $13 million in federal coronavirus pandemic relief loans, federal prosecutors said.

Elijah Majak Buoi, 40, of Winchester, was convicted Thursday of four counts of wire fraud and one count of making a false statement to a financial institution following a three-day trial in Boston federal court, according to U.S. Attorney for Massachusetts Rachael Rollins’ office.

Prosecutors said Buoi submitted six loan applications through the Paycheck Protection Program but misrepresented the number of employees and payroll expenses for his startup company, Sosuda Tech. He also submitted fraudulent IRS tax forms to support his applications, they said.

The loan program was part of the Coronavirus Aid, Relief and Economic Security, or CARES, Act that allowed qualifying small businesses and other organizations to receive forgivable loans to cover payroll, mortgages, rent and utilities.

Buoi was able to obtain a $2 million loan before he was arrested in June 2020. Rollins’ office said the government has recovered nearly all of the money.

Buoi’s lawyer Bryan Owens said Sunday that his client was “mislead” by a bank loan officer and made a “good faith mistake” in completing the tax forms.

He added that Buoi is a “dedicated family man” who has “overcome tremendous obstacles in his life.” Buoi is due to be sentenced in June.