Sanjay Patel, Fraudulent Loans, Money Laundering, Georgia 2020

Atlanta Attorney Pleads Guilty to COVID-19 Relief Fraud

Sanjay Patel, a 45-year-old attorney from Mobile, Alabama, has pleaded guilty to obtaining fraudulent Economic Injury Disaster Loans (EIDL) and money laundering.

According to officials, Patel submitted four fraudulent EIDL loan applications to the Small Business Administration (SBA) between August 2020 and March 2021, seeking at least $421,000 to operate his business, Worden & Associates. He repeatedly misrepresented the number of employees, gross revenues, and the existence of his business to receive the loans.

Patel received approximately $300,000 in loan proceeds, which he misused for unauthorized purposes, including spending at casinos, personal expenses, and making payments towards non-business loans.

Additionally, Patel used his Interest on Lawyer Trust Account (IOLTA) to launder the proceeds from various investment frauds, including $350,000 from an investor who believed the funds were going to be used for an energy project.

Patel’s actions are a stark reminder of the importance of accountability in government programs, especially during times of crisis.

He is scheduled to be sentenced on December 12, 2024, at 3:00 p.m. before U.S. District Judge Steve C. Jones.

The case is being investigated by the United States Postal Inspection Service, Federal Bureau of Investigation, Federal Housing Finance Agency – Office of Inspector General, and the Federal Deposit Insurance Corporation – Office of Inspector General.

Defendant: Sanjay Patel

Criminal Charges: Fraudulently obtaining Economic Injury Disaster Loans and money laundering

City and State: Atlanta, Georgia

Exact Date: August 2020 – March 2021 (crime date)

Sentence or Outcome: Pleaded guilty, scheduled for sentencing on December 12, 2024

Dollar Amounts: $300,000 in loan proceeds, $350,000 from an investor

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