East Providence Man allegedly fraudulently applied for eight COVID-Relief business loans | USAO-RI
PROVIDENCE, RI – An East Providence man appeared for the first time in federal court in Providence today for filing eight fraudulent loan applications seeking more than $337,000 in COVID-19 relief business loans backed by the Small Business Association (SBA), U.S. Attorney Zachary A. Cunha announced.
Kevin Mancieri, 48, is accused, by criminal complaint, of criminal conspiracy to commit bank fraud.
The charging documents allege that Mancieri, acting alone or with the help of others, requested eight loans: two in his own name and six in the name of others. The applications were reportedly submitted on behalf of four different individual companies claiming to provide flooring and carpeting services. The applications would have falsely represented that several employees worked for these various companies, when in fact there were few or no such employees; the claims were also reportedly supported by digitally altered personal bank statements, business bank account statements and tax records.
It is alleged that Mancieri fraudulently requested at least $337,096 in SBA-backed loans and that his requests resulted in the disbursement of at least $131,414. It is alleged that he personally received approximately $29,038 in loan proceeds and conspired with others to receive up to half of the proceeds paid to other entities. It is further alleged that Mancieri received at least $49,400 in bribes for applying for fraudulent loans for his associates.
Mancieri was taken into custody following his initial appearance in US District Court.
A federal criminal complaint is just one charge. An accused is presumed innocent until proven guilty.
The case is being prosecuted by Assistant US Attorney Lee H. Vilker.
The case was investigated by the FBI and the Internal Revenue Criminal Investigation. Mancieri was arrested at his home this morning by federal agents, with the assistance of Rhode Island State Police.