Nevada Man Sentenced 15 Years for $11M COVID PPP Fraud

Meelad Dezfooli of Henderson, Nevada, was sentenced to over 15 years in prison for fraudulently obtaining more than $11 million through the Paycheck Protection Program (PPP) during the COVID-19 pandemic. He was convicted of bank fraud, money laundering, and related charges after submitting false documents and inflating payroll information to secure the loans. Dezfooli laundered the stolen funds by purchasing around 25 properties using aliases and fictitious entities, as well as financing luxury cars, gambling, and personal investments. Despite being charged, he continued laundering money by selling properties bought with the illicit PPP funds. Dezfooli was ordered to pay nearly $11.8 million in restitution and forfeit over $11.2 million in assets, including five homes and two vehicles, followed by five years of supervised release. Authorities emphasized the severity of the crime and the importance of prosecuting fraud schemes that exploit taxpayer-funded programs.