A Long Island business owner received a four-year prison sentence for defrauding over $1.7 million from pandemic relief funds. Niall Alli, who controlled two companies, submitted false applications for Paycheck Protection Program loans from April 2020 to November 2021. With falsified financial data, he obtained the loans and later filed false forgiveness applications. Alli spent the funds on luxury items, cryptocurrency, and private school tuition, misusing government relief programs intended for struggling businesses. He was ordered to pay restitution and forfeiture as part of his sentencing.
Niall Alli, a Long Island business owner, was sentenced to four years in federal prison for stealing over $1.7 million in pandemic relief funds meant for struggling businesses.
He pleaded guilty to wire fraud after applying for loans from the Paycheck Protection Program using falsified data, falsely inflated payrolls, and bogus financial statements.
Prosecutors revealed that Alli misused loan proceeds for luxury purchases including cryptocurrency, expensive watches, and private school tuition, all while defrauding relief programs.
The court ordered him to pay $1.7 million in restitution to the Small Business Administration and imposed about $135,000 in forfeiture.
Collection
[
|
...
]