By Ivan Moreno (October 14, 2021, 6:00 p.m. EDT) – A Florida man who received nearly $ 4.7 million in Paycheck Protection Program loans by lying about his alleged businesses in nearly two dozen of Claims pleaded guilty Wednesday in federal court in New Jersey to wire fraud and money laundering.
Gregory J. Blotnick, 34, admitted to prosecutors he made 21 claims to 13 lenders on behalf of nine companies intending to raise nearly $ 7 million, according to the agreement dated July but filed. Wednesday in New Jersey District Court. Blotnick transferred around $ 3 million in loans to his brokerage account, ending up losing everything on the stock market, prosecutors said.
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