A Los Angeles resident previously from Randolph, Massachusetts has admitted to scamming the Paycheck Protection Program (PPP) by filing sham loan applications. Rindal Pierre-Canel, in a twist of justice, pleaded guilty to three counts of wire fraud after authorities caught up to his deceitful practices. The 30-year-old was arrested earlier this year and is facing a hefty sentence come October, the U.S. Attorney's Office announced.
According to the U.S. Attorney's Office documents, between March and May of last year, Pierre-Canel got over \$50,000 in federal funds by submitting three fraudulent applications. He aped the legitimacy, even using a stolen identity for one of the applications, framing false narratives about business incomes and concocting fake tax paperwork. This funding supposedly earmarked for distressed businesses instead bankrolled Pierre-Canel’s flights and his taste for designer threads.
U.S. District Judge Myong J. Joun has put sentencing on the calendar for October 1, and the stakes are high for Pierre-Canel — each count of wire fraud comes with the potential of two decades behind bars. The accompanying penalties could also see him out of up to \$250,000 in fines. The ultimate decision rests with how federal guidelines view Pierre-Canel's scheme.
The Department of Justice mirrored sentiments about the severity of these crimes, referencing the Fraud Section's diligence. Post-CARES Act rollout, they've prosecuted north of 150 individuals across more than 95 cases, clawing back \$75 million linked to PPP fraud. The Justice Department commented on the extensive coordination needed to bring offenders like Pierre-Canel to justice, with acknowledgment of the collaborative efforts of the U.S. Department of Labor and police departments in Cambridge and Hermosa Beach.
Assistant U.S. Attorney Brian Sullivan is on the front line, heading the prosecution against Pierre-Canel.
