SPOKANE, Wash. — A Cusick man was sentenced to federal prison for fraudulently getting over $155,000 in COVID relief designated for small businesses.
According to the U.S. Attorney’s Office for the Eastern District of Washington, 41-year-old Nathan Michael Triano was sentenced for wire fraud and will spend 18 months in federal prison followed by three years of supervised release.
Court documents showed Triano received three Paycheck Protection Program loans totaling $140,665 by submitting fraudulent information for multiple fake businesses. In addition to these funds, the United States lost over $15,000 in lender fees for the funding.
The Paycheck Protection Program is one of the programs created under the 2020 CARES Act, which helped eligible small businesses request and receive funding to mitigate damages caused by the coronavirus pandemic.
PPP provided forgivable loans to small businesses to retain jobs and maintain payroll during the pandemic.
“Many small and local businesses had financial difficulties during the COVID-19 pandemic. PPP loans were designed to help businesses navigate that uncertain time and keep people employed. Mr. Triano’s actions caused limited funds to be diverted away from companies that needed the money, and instead went to line his own pockets,” stated U.S. Attorney Vanessa Waldref.
In addition to prison time, Triano is also required to pay restitution of over $157,000.
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