A Queens man has been indicted for his alleged involvement in a COVID-19 loan fraud scheme, which saw him steal over $1.1 million in government funds.
Terry Dor, 36, of Jamaica, Queens, was arraigned in federal court in Brooklyn on an eight-count indictment charging him with wire fraud, theft of public funds, and money laundering.
The indictment alleges that Dor submitted applications for the Economic Injury Disaster Loan (EIDL) program, a United States Small Business Administration (SBA) program that provided emergency funding to distressed businesses during the COVID-19 pandemic.
According to the indictment, Dor claimed that he operated a Brooklyn-based consulting business called Terry Dor Professional Consultants, LLC (TDPC), which had more than $575,000 in revenue and $535,000 in expenses during calendar year 2019. In reality, TDPC was a sham business with no legitimate revenue or expenses.
The SBA deposited approximately $1,151,000 in EIDL funds to a bank account controlled by Dor via three installments. Dor then wired the EIDL proceeds to other accounts he controlled and used the proceeds to fund personal and non-TDPC expenses.
The charges in the indictment are allegations, and Dor is presumed innocent unless and until proven guilty. If convicted, Dor faces a maximum sentence of 20 years’ imprisonment.
The government’s case is being handled by the Office’s General Crimes Section. Assistant United States Attorney David Berman is in charge of the prosecution.
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Key Facts
- State: New York
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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