Covid-19 Fraud: Albany Man Gets Prison Time For $125K Loan Scheme

Christopher Mozone, of Albany, was sentenced to 3 ½ years behind bars in Albany federal court on Thursday, Aug. 31.

It followed his guilty plea to wire fraud stemming from a government loan he received that was meant to help businesses struggling due to the effects of the COVID-19 pandemic.

According to prosecutors, Mozone admitted to obtaining a $124,800 Economic Injury Disaster Loan from the US Small Business Administration (SBA).

In order to obtain the loan, he falsely claimed on an application that he owned a business that did not actually exist, prosecutors said.

Once the money was in hand, Mozone blew it on personal expenses, including nearly $10,000 in jewelry and a trip to Atlantic City, New Jersey.

In addition to his time in federal prison, he must also complete three years of post-release supervision and pay $43,378 in restitution to the SBA.

Click here to follow Daily Voice Capital District and receive free news updates.

ncG1vNJzZmickZ65usLOopqeZpOkunC6xLBksqeioHykrc%2Biq5qkXZm2tMDRopqtZ5Okw6qwjGpwZp6ilsKlecClmZqmqWK6orqMoJytq12lv6q%2FzqdkraGdmnqnu9FmaGttm2K5sK3NZqqcoJWisnA%3D