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A Houston man is facing charges in connection with fraudulently obtaining more than $1.1 million in coronavirus relief funds, according to a criminal complaint unsealed Monday.
The complaint charges 29-year-old Joshua Thomas Argires with making false statements to a financial institution, wire fraud, bank fraud and engaging in unlawful monetary transactions, the U.S. Department of Justice said in a press release. Argires was arrested Monday and appeared in court before U.S. Magistrate Judge Peter Bray.
Joshua Thomas Argires made his initial appearance in court on Monday. (justice.gov)
According to the complaint, Argires allegedly filed two fraudulent loan applications to federally insured banks seeking more than $1.1 million in forgivable loans. Under the Coronavirus Aid, Relief and Economic Security Act passed in March, the Small Business Administration guarantees the loans for coronavirus relief funds through the Paycheck Protection Program.
The fraudulent loan applications Argires allegedly submitted were on behalf of two companies, Texas Barbecue and Houston Landscaping. The complaint accuses Argires of claiming they had numerous employees that necessitated hundreds of thousands in payroll expenses.
SECRET SERVICE CLAIMS $1B IN CORONAVIRUS FRAUD LOSSES PREVENTED, WARNS OF $30B POTENTIAL RISK
The complaint says that neither Texas Barbecue nor Houston Landscaping has employees or pays wages consistent with the amount requested in the PPP applications. It further alleges that the funds received for Texas Barbecue were invested in a cryptocurrency account, while those received for Houston Landscaping were kept in a bank account and slowly withdrawn through an ATM.
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Congress passed the CARES Act on March 29. The bill was intended to provide emergency relief funds to millions of Americans impacted financially by the coronavirus pandemic. Lawmakers followed that up less than a month later with an additional $300 billion in PPP funding.
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