VALDOSTA Ga. (WALB) – A Sycamore man pleaded guilty to money laundering after he filed for PPP loans amounting to more than $2.6 million under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, according to the U.S. Attorney’s Office for the Middle District of Georgia.

Anthony Boncimino, 47, pleaded guilty to one count of money laundering before U.S. District Judge Louis Sands in Valdosta on Monday. Boncimino faces a maximum penalty of 10 years in prison and a $250,000 fine. Sentencing is scheduled for Feb. 24, 2022.

“Those who fraudulently capitalized during the global pandemic will be brought to justice for their crimes,” said Peter Leary, acting U.S. attorney for the Middle District of Georgia. “Investigators are working to hold CARES Act fraudsters accountable. Our office will pursue federal prosecution when warranted.”

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