GRAND RAPIDS, Mich. — A Wyoming man has been sentenced after pleading guilty to defrauding the Paycheck Protection Program (PPP).
David Kurbanov was sentenced to three years behind bars in addition to three years of supervised release following his imprisonment, according to the U.S. Attorney’s Office – Western District of Michigan.
We’re told Kurbanov conspired with Georgia resident James Williams and others to illegally acquire nearly $1.5 million in PPP loans from the U.S. Small Business Administration (SBA) between June and December in 2020.
“These individuals sought to illegally profit from a program designed to assist small businesses detrimentally affected by the pandemic,” says U.S. Attorney Andrew Birge. “Those who, like Mr. Kurbanov and Mr. Williams, attempt to acquire wealth through illegal means will get our attention and face imprisonment.”
The U.S. Attorney’s Office says both men have been instructed to repay a total of $1,495,067 in restitution.