Stoughton man pleads guilty to fraudulent COVID loan scheme that got him $220K

Susannah Sudborough, The Enterprise
·2 min read

STOUGHTON — A Stoughton man has pleaded guilty to a bank fraud charge in connection with a scheme through which he and a co-conspirator fraudulently obtained $220,000 in COVID-19 relief loans.

On Nov. 17, Yves Montima, 53, pleaded guilty to one count of conspiracy to commit bank fraud after being charged on Nov. 4.

According to the U.S. Department of Justice, Montima participated in a scheme that obtained over $220,000 through fraudulent PPP loan applications submitted between April 2020 and April 2021.

According to the charging documents, Montima and a co-conspirator submitted 12 fraudulent PPP loan applications, both in their own names and in the names of others, at several financial institutions.

More: SBA says COVID-19 loans saved 8,500 jobs in Brockton

Montima and his co-conspirator also reportedly received kickback payments from individuals on whose behalf they submitted fraudulent PPP loan applications.

The charge of conspiracy to commit bank fraud could result in a sentence of up to 30 years in prison, up to five years of supervised release, a fine of up to $1 million or twice the gross gain or loss, whichever is greater, and forfeiture.

On May 17, 2021, U.S. Attorney General Merrick Garland established the COVID-19 Fraud Enforcement Task Force to enhance efforts to combat and prevent pandemic-related fraud. Montima's charges are a result of the task force's efforts.

U.S. District Court Judge Denise Casper scheduled Montima's sentencing for March 9, 2022.

Anyone with information about attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

Enterprise staff writer Susannah Sudborough can be reached by email at ssudborough@enterprisenews.com. You can follow her on Twitter at @k_sudborough. Support local journalism by purchasing a digital or print subscription to The Enterprise today.

This article originally appeared on The Enterprise: Stoughton COVID: Yves Montima pleads guilty to fraudulent loan scheme