MIAMI – A federal grand jury charged Emmanuel Bully, Jr., 44, of Miami-Dade County, Florida, with wire fraud, according to a recent indictment.
Bully is accused of fraudulently obtaining more than $500,000 in forgivable Paycheck Protection Program (PPP) loans and Economic Injury Disaster Loans (EIDL) loans guaranteed by the Small Business Administration under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Between April 29, 2020, and September 27, 2021, Bully submitted six PPP and EIDL loan applications on behalf of himself and four of his purported companies: MB Tax Consultants LLC, MB Tax Services LLC, MB Tax Services Consultants, and Emmanuel B.
He falsely stated the corporation’s average monthly payroll or gross revenues in each application, leading to him receiving over $500,000 in PPP and EIDL loan funds. Contrary to the loan’s intended use, Bully spent the funds for his personal benefit, not for payroll costs, interest on mortgages, rent, or utilities.
On August 16, 2023, the FBI arrested Bully as he attempted to leave the country on an international flight after being interviewed by FBI special agents earlier this month.
U.S. Attorney Markenzy Lapointe and Special Agent in Charge Jeffrey B. Veltri of the FBI, Miami Field Office, announced the charges. The FBI, West Palm Beach Field Office, investigated the case, with Assistant U.S. Attorney Shannon Shaw prosecuting.
An indictment contains mere allegations, and all defendants are presumed innocent unless and until proven guilty in a court of law.
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Key Facts
- State: Florida
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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