PORTLAND, Ore. (AP)– An Oregon male has actually pleaded guilty in a plan to take cash meant to assist small companies throughout the COVID-19 pandemic, according to federal district attorneys.
Benjamin Tifekchian, 47, of Portland, on Tuesday pleaded guilty to bank scams as part of a plea offer, U.S. Attorney Scott Erik Asphaug of the District of Oregon stated in a press release.
In 2019, Tifekchian bundled Bencho Jewelry Inc. in Oregon, was the sole owner and officer, and never ever created over $500 in earnings each year, court files state.
After Congress passed the Coronavirus Aid, Relief, and Economic Security Act to supply emergency situation monetary support to Americans amidst the pandemic, Tifekchian effectively gotten more than $884,000 in a Paycheck Protection Program loan. He wrongly declared Bencho used 78 individuals and had a typical regular monthly payroll of $353,698
Tifekchian utilized a few of the cash to spend for gaming and trips prior to Bank of America froze the loan funds, thinking scams.
His deceptive applications for Economic Injury Disaster Loans were rejected. A federal grand jury in Portland prosecuted Tifekchian in 2015 on bank scams and wire scams charges.
Tifekchian deals with an optimum of 30 years in jail. With his ongoing approval of obligation, the federal government will advise Tifekchian be sentenced to a minimum of 21 months in jail. Tifekchian has actually consented to pay over $900,000 in restitution.
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