Dallas man stole $17 million in coronavirus bailout money to treat himself with lavish cars, properties

3 month ago

Dallas news, Texas news.

A Dallas man has been arrested on suspicion of fraud after authorities said he stole millions in coronavirus relief money and spent it on fancy cars and apartments.

55-year-old Dinesh Sah has planned to steal $24.8 million in loans to supposedly pay his made up employees and businesses he submitted in 15 loan applications.

But Sah only received $17.7 million that was more than enough for him to purchase a 2020 Bentley convertible and luxury cars and residence, federal authorities said.

“Mr. Sah looked at the Paycheck Protection Program as his own personal piggy bank, treating himself to not only millions in cash but several luxury vehicles and properties, all while legitimate small business owners in the US desperately sought out ways to put food on their tables and to ensure their employees were paid,” an IRS agent said.

Sah was charged with three counts of wire fraud, three counts of bank fraud, and money laundering.