Elijah Majak Buoi, 40, was sentenced in federal court in Boston on Thursday, June 16, to 39 months incarceration and three years of supervised release in connection to filing fraudulent loan applications seeking more than $13 million in forgivable loans, according to a press release from the Massachusetts Department of Justice.
The loans were guaranteed by the Small Business Administration (SBA) for COVID-19 relief through the Paycheck Protection Program (PPP), under the CARES Act.
Buoi was also ordered to pay $4 million, $2 million in restitution and $2 million in forfeiture, according to the release.
Buoi was convicted on Feb. 24, 2022, of four counts of wire fraud and one count of making false statements to a financial institution.
He served as a the president and CEO of Sosuda Tech, LLC, an information technology services company in Winchester. He was arrested and charged with a criminal complaint in June 2020 and indicted by a grand jury a month later.
Buoi submitted six fraudulent PPP loans from the SBA. In each application he misrepresented the number of employees he had on payroll and submitted fraudulent IRS tax forms, according to authorities.
At the trial there was evidence to show that Buoi’s company was a start-up with no U.S.-based payroll and no-U.S. employees.
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Elijah Majak Buoi of Winchester convicted in COVID-relief fraud scheme after attempting to obtain more than $13 million in Paycheck Protection Program loans
Massachusetts man accused of coronavirus-relief fraud after authorities say he sought more than $13 million in Paycheck Protection Program loans
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