Chinese man sentenced to four years in prison for loan fraud in US

Chinese citizens
Chinese citizens

A Chinese man has been sentenced by a US court to four years in prison for trying to embezzle কোটি 20 million from a government relief fund through a pay-check protection program (PPP) loan. He was given this punishment after admitting the truth of the incident.

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U.S. District Judge Richard M. Berman sentenced him to four years and four months in prison. After the hearing in Manhattan, the man named Muge Ma was sentenced. Judge Richard said the punishment was necessary to warn others against the scale of the crime and the misappropriation of public funds.

In May 2020, Mugabe’s mother, 38, was arrested by US federal authorities. Because he tried to get more than 20 million dollars from the government’s paycheck protection program and economic loss loan program. For this he applied to at least five banks.

Authorities say he falsely claims to have paid hundreds of millions of dollars in wages to hundreds of employees through the two companies he controlled. For this, the person submitted fake documents of bank, tax, insurance and salary. He also presented a lot of false information about the company.

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