DETROIT – A federal indictment was unsealed, charging Detroit resident Jabari Kadar Long with defrauding the United States Small Business Administration (SBA) by submitting fraudulent loan applications to the Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) during the coronavirus pandemic.
Long, 45, was charged on Tuesday (Aug. 5) with one count of conspiracy to commit wire fraud, one count of wire fraud affecting a financial institution, and one count of money laundering arising out of his participation in the scheme.
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The indictment alleges that, during the coronavirus pandemic, Long worked with co-conspirators to illegally obtain money through PPP and EIDL applications for businesses that were ineligible for such loans.
Specifically, the indictment alleges that Long himself applied for and received $2,187,000 for a business called “Priceless Preservations Construction.”
In his PPP loan application, Long claimed that Priceless Preservations had 50 employees and an average monthly payroll of $875,000.
The indictment alleges that Priceless Preservations Construction had few, if any, employees and minimal payroll expenses.
In total, court documents revealed that Long fraudulently received over $3 million from these programs.