PROVIDENCE, R.I. – U.S. Attorney Zachary A. Cunha announced that an East Providence man submitted eight fraudulent loan applications seeking more than $375,000 in federal Small Business Administration insureds for COVID-19 Relief business loan, has been jailed for four years. .
Kevin Mancieri, 49, submitted fraudulent Paycheck Protection Program (PPP) applications to secure loans, along with falsified bank records and tax forms. In addition to filing two fraudulent applications in his own name, Mancieri also prepared fraudulent applications in the names of four other individuals connected to him. Additionally, Mancieri used the stolen identity and submitted a fraudulent PPP application in that person’s name seeking an additional $60,710 in loans.
According to information provided to the court, Mancieri filed fraudulent PPP applications seeking a total of $375,928 and resulting in $152,246 in damages. Of this, Mancieri received $92,438 personally.
Mancieri pleaded guilty on Aug. 15, 2022, to conspiracy to commit bank fraud, access device fraud and aggravated identity theft. Mancieri was sentenced today by US District Judge William E. Smith to 48 months in federal prison, followed by three years of federal supervised supervision. In addition, Mancieri was fined $10,000 and ordered to pay $152,246 in restitution.
The case is being prosecuted by Assistant U.S. Attorney Lee H. Vilker.
The FBI and Internal Revenue Criminal Investigative Service investigated the matter.