Stamford Man, Moustapha Diakhate Charged with Fraudulently Obtaining Nearly $2.9 Million in COVID-19 Relief Funds
(STL.News) Moustapha Diakhate, 45, of Stamford, was arrested today on a federal criminal complaint charging him with bank fraud and wire fraud offenses related to his receipt of nearly $2.9 million in COVID-19 relief funds guaranteed by the U.S. Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Today’s announcement was made by Acting U.S. Attorney Leonard C Boyle, Special Agent in Charge Amaleka McCall-Brathwaite of the Small Business Administration Office of Inspector General’s Eastern Region, Special Agent in Charge David Sundberg of the New Haven Division of the Federal Bureau of Investigation, and Acting Special Agent in Charge Ramsey E. Covington of IRS Criminal Investigation in New England.
Diakhate appeared this afternoon before U.S. Magistrate Judge S. Dave Vatti in Bridgeport and was ordered detained.
In March 2020, the CARES Act provided emergency financial assistance to Americans suffering the economic effects caused by the COVID-19 pandemic. One source of relief provided by the CARES Act was the authorization of forgivable loans to small businesses for job retention and certain other expenses through the Paycheck Protection Program (PPP).