SALT LAKE CITY, Utah — A Salt Lake City accountant has been sentenced for fraudulently obtaining approximately $221,400 in Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) funds for clients without their knowledge.
Peter N. Sinju, a 51-year-old resident of Salt Lake City, pleaded guilty to wire fraud in December 2025. According to court documents and statements made during Sinju’s change of plea and sentencing hearings, he engaged in a scheme from June 2, 2020, to July 3, 2020, to defraud the United States and the Small Business Administration (SBA). Sinju submitted at least four fraudulent PPP loan applications and five fraudulent EIDL loan applications on behalf of his clients.
The COVID-19 PPP loans were intended to help small businesses meet obligations such as payroll and rent during the pandemic. Sinju misled his clients by claiming he could submit loan applications on their behalf due to his access to their financial information. Without their knowledge, he inflated payroll and revenue figures in the applications. For three PPP loan applications, Sinju fabricated payroll sheets with false, identical wage amounts for employees, some of whom did not exist. The business owners denied certifying these fabricated payroll sheets…