Damian Williams, the United States Attorney for the Southern District of New York, announced today that MARCUS FRAZIER pled guilty to carrying out a fraudulent scheme to obtain $6.9 million in government-guaranteed loans designed to provide relief to small businesses during the novel coronavirus/COVID-19 pandemic.  FRAZIER pled guilty before United States District Judge Alison Nathan, to whom his case is assigned.

U.S. Attorney Damian Williams said: “Marcus Frazier sought millions of dollars in unsecured SBA-guaranteed loans for which his businesses did not qualify.  He lied about the number of people employed by his businesses, the salaries they were paid, even that these employees existed.  Further, Frazier used the loan proceeds he obtained to fund his lavish lifestyle, not to pay permissible expenses.  Now Marcus Frazier awaits sentencing for his admitted crimes.”

https://www.justice.gov/usao-sdny/pr/manhattan-man-pleads-guilty-69-million-scheme-defraud-loan-program-intended-help-small

https://www.justice.gov/usao-sdny/pr/manhattan-man-pleads-guilty-69-million-scheme-defraud-loan-program-intended-help-small