Fraud with US Government, Pakistani Citizen Prisoned for 5 Years
Rana Azhar Sarwar took more than $55.5 million by setting up a fake company through Corona loan scheme.
A man from New Jersey has been punished for five years and four months in prison for fraudulently borrowing millions of dollars from the federal us government through the Corona virus loan scheme.
Azhar Sarwar, a 31-year-old Pakistani-American, will have to pay back more than 5 5.58 million and face up to five years in prison.
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Rana obtained a $10 million paycheck protection program loan for his fake company, Azhar Sarwar LLC, when he submitted fake payroll reports and tax documents on April 6, 2020.
Rana was paid more than 56 5.6 million in May 2020 to pay his employees. Most of the employees who were paid by Rana’s fake company had incorrect social security numbers.
Rana later used the money for personal expenses, bought 13,000 car from BMW, and sent millions of dollars to his family in Pakistan and other countries.
Authorities arrested Rana on December 12, 2020, just hours before he left for Pakistan.
The paycheck protection program was to provide easy loans to businesses and companies infected with the corona virus so that they could pay their employees salaries, rent and bills, but the Pakistani-American made a fake company with the US government. Fraud of millions of dollars.
