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Feds bust Texas man for using PPP loan of nearly $1 million on cryptocurrency

from Fortune

Feds bust Texas man for using PPP loan of nearly $1 million on cryptocurrency Fortune Joshua Argires received nearly $1 million from the federal Paycheck Protection Program to help 51 employees at his "Texas Barbecue" to weather the COVID outbreak. But according to federal law enforcement, Texas Barbecue had no employees and only a website with nothing for sale. Meanwhile, Argiries allegedly sent the $956,250 he received to an account at the cryptocurrency company Coinbase via a series of five wire transfers. On Tuesday, the Department of Justice announced Argiries has been charged with wire fraud, bank fraud and engaging in unlawful monetary transactions. READ MORE

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