FOX 2 - A Beverly Hills man is accused of stealing more than $3 million using the Paycheck Protection Program scheme.
The backstory:
A federal indictment was unsealed against Jabari Kadar Long on Tuesday for allegedly submitting fraudulent loan applications from PPP and Economic Injury Disaster Loans during the coronavirus pandemic.
The indictment alleges that Long applied for and received $2,187,000 for a business called "Priceless Preservations Construction" claiming he had 50 employees and an average monthly payroll of $875,000.
Investigators claim that Long's Priceless Preservations Construction had few, if any, employees and little to no payroll expenses receiving a total of more than $3 million from the programs.
The indictment alleges that Long worked with co-conspirators to illegally get the money for ineligible businesses.
Long is charged with one count of conspiracy to commit wire fraud, one count of wire fraud affecting a financial institution, and one count of money laundering arising out of his participation in the scheme.
The Source: Information for this report is from the US Attorney's Office Eastern District of Michigan.