After pleading guilty to wire fraud earlier this month, Plano dentist Brian Bui is facing 18 months in federal prison.
Bui obtained at least two Paycheck Protection Program (PPP) loans by using his dentistry business to submit false information about employee numbers and payroll expenses, according to court documents from the U.S. Attorney’s Office.
Forgivable loans, established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act and facilitated under the Small Business Administration (SBA), were to be used for payroll and health care costs, employee salaries, and rent or utilities payments. These loans were eligible to be forgiven under a certain amount. In October, NPR found that 90% of PPP loans were forgiven.
In April, the Department of Justice announced criminal charges against 18 defendants for fraud relating to PPP loans. Those defendants collectively stole $490 million from false billings of COVID-19 relief programs, according to the U.S. Office of Public Affairs. The Attorney General established the COVID-19 Fraud Enforcement Task Force with the purpose to stop and prevent pandemic-related fraud including wire fraud.
The Department of Justice is still combating fraud related to COVID-19, including wire fraud as well as identity theft and other financial schemes. There are links to more information and crime reporting on their website.
Bui pleaded guilty on June 5 and was sentenced by U.S. District Judge Sean D. Jordan. The loans Bui received totaled approximately $1.89 million, and were used in non-business investments, according to the U.S. Attorney’s Office. Bui was ordered to repay $1,491,305.97.
