LAS VEGAS (KLAS) — A U.S. Department of Justice release said Thursday that two Las Vegas residents are facing prison time after investigators say they obtained more than a million dollars in COVID-19 relief fraudulently.
The $1.3 million in pandemic relief funds were obtained through the Economic Injury Disaster Loan program and the Paycheck Protection Program, the DOJ said Thursday.
Kofi Sarfo, 58, of Las Vegas, and Rose Sarfo, 54, also of Las Vegas, are accused of submitting false loan applications to receive pandemic relief funds, and according to the news release from the DOJ, the two allegedly used some of the money to buy stocks and cryptocurrency.
The release says that they face charges of conspiracy to commit wire fraud, for which the maximum penalty is 20 years in prison, and four counts of wire fraud, each of which holds a 20-year penalty. Additionally, Kofi Sarfo faces one count of money laundering, which, if convicted, could result in 10 years in prison.
The Las Vegas field office of the Federal Bureau of Investigations is investigating the case.