SCRANTON- The United States Attorney’s Office for the Middle District of Pennsylvania announced that on January 25, 2022, Nazim Hassam, age 70, of Bartonsville, Pennsylvania, was indicted by a federal grand jury on bank fraud and money laundering charges.

According to United States Attorney John C. Gurganus, the indictment alleges that Hassam applied for and received multiple loans under the federal Paycheck Protection Program (“PPP”) while making false statements on the applications.  Hassam was indicted along with two businesses he co-owns, the Pocono Plaza Inn and Om Sri Sai, Inc., in 2019 on felony sex and drug trafficking charges.  When asked whether he or the companies applying for the loans were under indictment, Hassam falsely answered, “No.”  The indictment alleges that Hassam fraudulently obtained loans totaling $89,308.  Hassam then conducted unlawful monetary transactions with the bulk of those funds.

The case was investigated by the Internal Revenue Service. Assistant U.S. Attorney Sean A. Camoni is prosecuting the case.

To continue reading the rest of the article, please click on the source link below:

https://www.justice.gov/usao-mdpa/pr/bartonsville-man-indicted-pandemic-loan-fraud