Roosevelt Fernandez pleaded guilty to wire fraud and identity theft in connection to fraud schemes involving false tax returns and Covid-19 relief funds.
The Boston businessman used multiple identities to file approximately 40 false tax returns. On many of the returns he included fraudulent W-2 forms he had made up. The false returns totaled over $620,000 in requested funds.
Fernandez also applied for 10 Economic Injury Disaster Loans in his name and in the names of entities he controlled. He included false tax filings to support his applications. He received one loan for $124,900 and proceeded to withdraw more than $80,000 in cash within two weeks of receiving the money. A second loan was deposited into the same account for $149,900.
He faces up to 20 years in prison for wire fraud and a mandatory sentence of two years for identity theft, fines up to $500,000.
