An East Providence man who submitted eight fraudulent loan applications seeking more than $375,000 in COVID-19 relief business loans guaranteed by the federal Small Business Administration has been sentenced to four years in federal prison, announced United States Attorney Zachary A. Cunha.
Kevin Mancieri, 49, submitted fraudulent Paycheck Protection Program (PPP) applications to secure the loans, complete with fabricated bank records and tax forms. In addition to submitting two fraudulent applications in his own name, Mancieri prepared fraudulent applications in the names of four other individuals that he was associated with. Additionally, Mancieri used a stolen identity and submitted a fraudulent PPP application in that person’s name as well, seeking an additional $60,710 in loans.
According to information presented to the court, Mancieri submitted fraudulent PPP applications seeking a total of $375,928, resulting in a loss of $152,246. Of that amount, Mancieri personally obtained $92,438.
Mancieri pleaded guilty on August 15, 2022, to conspiracy to commit bank fraud, access device fraud, and aggravated identity theft. Mancieri was sentenced today by U.S. District Court Judge William E. Smith to forty-eight months in federal prison to be followed by three years of federal supervised release. Additionally, Mancieri was fined $10,000 and ordered to pay restitution in the amount of $152,246.
The case was prosecuted by Assistant U.S. Attorney Lee H. Vilker.
The matter was investigated by the FBI and Internal Revenue Criminal Investigation.