ELK GROVE, Calif. — A federal jury convicted an Elk Grove man of wire fraud after he gambled away more than $442,000 in COVID-19 relief funds meant for business purposes, according to U.S. Attorney Eric Grant.
Oleg Gregorvich Fursov, 52, was found guilty after a three-day trial. Evidence showed that in January 2022, Fursov applied for a $1 million Economic Injury Disaster Loan, a program administered by the U.S. Small Business Administration to help businesses impacted by the COVID-19 pandemic.
In his application, Fursov falsely certified that he would use the money solely for business purposes. Instead, he gambled more than $442,000 at casinos and paid $100,000 as an unauthorized kickback to a person who assisted with the application…