Beverly Hills man pleads guilty in $2 million fraud scheme from pandemic loans

A Beverly Hills man pleaded guilty to a fraud scheme totaling $2.1 million in pandemic loans.

The backstory:

Jabari Kadar Long entered a guilty plea to wire fraud affecting a financial institution on Tuesday. He will be sentenced in July and faces a maximum sentence of 30 years imprisonment.

Long submitted fraudulent loan applications to the Paycheck Protection Program and Economic Injury Disaster Loans for businesses that did not exist.

Court records say he 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 found that Long's Priceless Preservations Construction had few, if any, employees and little to no payroll expenses.

The Source: Information for this report is from the US Attorney's Office Eastern District of Michigan


 

Crime and Public SafetyOakland County