BOISE, Idaho (CBS2) — U.S. Attorney for the District of Idaho Bart M. Davis announced that Xanare Bomani, of New Jersey, pleaded guilty to conspiracy to commit bank fraud for participating in a scheme to defraud financial institutions and the Small Business Administration (SBA) through fraudulent Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) applications.
According to court records, between July 2020 and April 2021, Bomani worked with co-conspirators to falsify financial information and submit false applications to financial institutions in Boise and elsewhere to fraudulently obtain over $1 million in COVID relief funds.
Bomani faces a maximum penalty of 30 years in federal prison, a fine of up to $1 million and up to five years of supervised release, along with restitution determined by the court. Sentencing is scheduled for Dec. 15, 2026, before Senior U.S. District Judge B. Lynn Winmill…