Florida man sentenced for Mass. role in $452K SBA fraud

BOSTON (WWLP) – A man from Florida was sentenced Wednesday in federal court in Boston for fraud involving disaster funds from the Small Business Administration (SBA).

According to the Department of Justice in Boston, 52-year-old Hector Garcia of Ocala, Fla. conspired with Ramon Cruz, Darwyn Joseph, Edwin Acevedo, and others, to use stolen identity information of U.S. citizens to apply for SBA Economic Injury Disaster Loans.

Garcia opened a bank account using the stolen identity information and then linked it to other fraudulent bank accounts set up to receive the SBA funds. Those accused used debit cards associated with the accounts to launder approximately $250,000 by purchasing iPhones for resale in Massachusetts and New Hampshire. They also wired a portion of the funds to the Dominican Republic.

The Department of Justice says over $452,000 in SBA funds were fraudulently obtained in connection with the scheme.

Garcia pleaded guilty to one count of conspiracy to commit wire fraud and three counts of wire fraud. He was sentenced to time served and three years of supervised release and ordered to pay $25,104.33 in restitution to the Small Business Administration.

Cruz and Joseph pleaded guilty and were each sentenced to two years and one day in prison and three years of supervised release. Acevedo pleaded guilty and was sentenced to 33 months in prison and three years of supervised release.

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