Las Vegas person billed with defrauding PPP for almost $2M, allegedly getting Tesla, Bentley, and households

A Las Vegas guy was charged Wednesday with defrauding the Paycheck Safety Method for almost $2 million and paying the funds on luxurious cars and residences. 

Authorities charged Jorge Abramovs, 40, with financial institution fraud, producing wrong statements to a lender, and funds laundering. He allegedly attained loans from seven various loan providers by falsely boasting to have various employees on payroll. 

Abramovs is accused of applying the funds to get a Tesla, a Bentley, shell out off his dwelling mortgage, and obtain two condominiums. 


He was in the beginning arrested on Jan. 17 and was ordered to be held pending trial on Jan. 22. 

The Paycheck Protection Application was enacted very last April to assistance little firms remain afloat amid the coronavirus pandemic and continue on spending workers. 

In accordance to the Modest Business Administration’s latest data, 5,550,486 loans have been accepted for a overall of $557 billion. The financial loans can be forgiven if businesses use at minimum 60% of the resources on payroll. 

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The DOJ has prosecuted far more than 100 defendants for PPP fraud and seized additional than $60 million in funds, authentic estate attributes, and luxury items since the method very first started 9 months ago. 

Many of the conditions are related to Abramovs’. For occasion, a Virginia person pleaded guilty to bank fraud Thursday right after he fraudulently received $2.5 million via PPP, then used the income on a Lexus, private jet, and a down payment on a luxurious residence.