Houston former banker sentenced to 50 months for fraudulent PPP loan scheme

The Brief

  • Feliciano Pineda pleaded guilty to conspiring to defraud his former employer through fraudulent PPP loans.
  • Prosecutors said he processed loans for businesses that either did not exist or falsely inflated their financial information.
  • Pineda was ordered to pay approximately $2.2 million in restitution and will serve three years of supervised release after prison.

HOUSTON A Houston man who helped customers obtain fraudulent Paycheck Protection Program loans during the COVID-19 pandemic has been sentenced to more than four years in federal prison.

What we know:

Feliciano Pineda, 38, pleaded guilty Feb. 12 to conspiring to defraud his former employer through fraudulent PPP loans.

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