An Albany has been sentenced for allegedly defrauding a loan program for businesses struggling during the COVID-19 pandemic. Scott Solomon, 38, was sentenced to just over a year in prison and three years probation.
ALBANY, N.Y. (NEWS10) -- An Albany has been sentenced for allegedly defrauding a loan program for businesses struggling during the COVID-19 pandemic. According to the U.S. Department of Justice (DOJ), Scott Solomon, 38, was sentenced to just over a year in prison and three years probation.
In December, Solomon pleaded guilty to two counts of bank fraud. In pleading guilty, he admitted to fraudulently applying for and getting Paycheck Protection Program (PPP) loans in 2020 for two restaurants in Saratoga Springs that he had operated. The DOJ confirmed those restaurants were Siro's and the now-closed Pig 'N Whistle.
DOJ said Solomon submitted false and forged tax documents for the loan applications and lied about each restaurant’s number of employees and payroll. At the time, neither restaurant was open for business.
Solomon then allegedly used the loan funds, which totaled $163,993, for non-PPP reasons. He also reportedly got $87,500 in forgiveness for one of the loans by falsely telling the lender he used the money for payroll, said the DOJ.
Solomon was ordered to pay $163,993 in restitution and to forfeit that same amount for his crimes. He also has two previous felony convictions for grand larceny, and a misdemeanor conviction for possession of a forged instrument, said DOJ.
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