MADISON, Wis. — A Madison man is being sentenced to three and a half years in prison for two separate cases of fraud, including a case of CARES Act fraud.
The Department of Justice says 49-year-old Ahmad Kanan was already indicted and awaiting trial in an access device fraud case when he applied for two Paycheck Protection Program loans from the CARES Act last year. The DOJ says Kanan applied for a $72,500 PPP loan from the Bank of Kaukauna on behalf of Altin Labs, Inc. as the company’s CEO and majority owner in April 2020, but the bank noticed Kanan spelled his name incorrectly on the application and did not give the company the funding.
Kanan then applied again for a PPP loan in May, requesting $47,060 from Cross River Bank in New Jersey. That time, he received the money. The DOJ says Kanan was intentionally using a misspelling of his name to get around conditions of the PPP program that people not be under indictment on federal charges, and lied on the application saying he was not under indictment.
Kanan was under indictment at the time, though, for an access device fraud case that charged him in October 2019. In that case, he admitted to using the routing and account numbers from the Embassy of Libya-Military Attaché to pay Wisconsin Department of Revenue taxes, interest and penalties. The DOJ says the Libyan Embassy did not give him permission to use their bank account to make those payments, which totaled nearly $200,000.
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