A New York man and an Oklahoma woman were arrested Wednesday in Buffalo, New York and Altus, Oklahoma, respectively, on a criminal complaint filed in the Western District of New York charging them for their roles in fraudulently obtaining and laundering nearly $1 million in funds from the COVID-19 relief Paycheck Protection Program (PPP).
According to court documents, from May 2020 through October 2020, Adam D. Arena, 44, of Buffalo, and Amanda J. Gloria, 44, of Altus, allegedly conspired to fraudulently obtain and misuse a nearly $1 million PPP emergency relief loan through the U.S. Small Business Administration (SBA). Arena and Gloria allegedly submitted a false loan application to an SBA‑approved participating lender on behalf of a defunct business owned by Arena called ADA Auto Group LLC. This loan application allegedly contained materially false representations and certifications about Arena’s business and how the loan would be used. After fraudulently obtaining the loan, Arena and Gloria are alleged to have misused the loan proceeds on personal expenses the purchase of two cars.
Arena is charged with one count of conspiracy to commit bank fraud, one count of conspiracy to engage in monetary transactions with criminally derived proceeds, one substantive count of bank fraud, and three substantive counts of engaging in monetary transactions with criminally derived proceeds. Gloria is charged with one count of conspiracy to commit bank fraud, one count of conspiracy to engage in monetary transactions with criminally derived proceeds, one substantive count of bank fraud, and one substantive count of engaging in monetary transactions with criminally derived proceeds.
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Source: The U.S. Department of Justice