Man pleads guilty to CARES Act loan fraud

Anthony Boncimino, 47, pleaded guilty to one count of money laundering.
Anthony Boncimino, 47, pleaded guilty to one count of money laundering.(Gray Television)
Published: Nov. 9, 2021 at 2:42 PM EST
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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.”

“Greed has no place in SBA’s programs that are intended to provide assistance to the nation’s small businesses struggling with the pandemic challenges,” said SBA OIG’s Eastern Region Special Agent in Charge Amaleka McCall-Brathwaite. “Fraudsters attempting to gain access to economic stimulus funds will be met with justice. I want to thank the U.S. Attorney’s Office and our law enforcement partners for their dedication and pursuit of justice.”

“The Treasury Inspector General for Tax Administration aggressively pursues those who endeavor to defraud programs afforded to the American people under the CARES Act,” said J. Russell George, treasury inspector general for tax administration. “We appreciate the efforts of the Department of Justice and our law enforcement partners in this effort.”

“While businesses were suffering and trying their best to make it through the pandemic, others chose greed. IRS-CI will continue to use its financial expertise to track and recommend prosecution of criminals taking advantage of a crisis,” said James E. Dorsey, special agent in charge of the IRS-Criminal Investigation.

According to court documents, Boncimino admitted that he knowingly created two fictitious companies in order to obtain PPP loans fraudulently and obtained PPP loans for his moving business by falsifying payroll information. A total of $2,671,871.74 in four PPP loans from three lender banks was collected fraudulently. Court documents state Boncimino created fake IRS forms for the false companies and submitted these and other fraudulent records to the lender banks and the SBA. Boncimino used the money to pay for state and federal taxes, according to court documents. Court documents also state Boncimino told investigators he wanted a safety net for his family and his moving business.

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