Brooklyn man arrested for $1.9 million Paycheck Protection Program fraud
Defendant allegedly fraudulently obtained funds intended for businesses, spent $350K on luxury cars
Leon Miles, 51, of Brooklyn was charged in Brooklyn Federal Court on Monday with wire fraud in connection to an alleged scheme to obtain more than $1.9 million from the Paycheck Protection Program, which is intended to help small businesses with payroll costs, interest on mortgages, rent and utilities.
He was arrested Monday morning and was slated to make his initial appearance before United States Magistrate Judge Vera M. Scanlon.
The complaint charges that in May 2020, Miles submitted an application for a $1,904,593 PPP loan on behalf of a limited liability company he owns in Brooklyn, falsely claiming that the company had 50 employees and a total average monthly payroll of $761,838.