Minnesota Man Charged With Stealing $841K In Virus Loans
MINNEAPOLIS (AP) — A federal grand jury has indicted a St. Paul man on charges that he fraudulently obtained $841,000 in federal coronavirus loans for a business that doesn't exist.
The indictment, unsealed Friday, charges 32-year-old Kyle Brenizer with two counts of wire fraud and two counts of money laundering. According to prosecutors, Brenizer in May twice applied for $841,000 in Paycheck Protection Program loans for his business, True-Cut Construction. The business folded in 2019.
The first application was denied. Brenizer filed the second application under a false name. He falsely stated that True-Cut's average monthly payroll was $336,400 for about 30 employees and supplied falsified bank statements and IRS documents, prosecutor said.
The second application was approved. He transferred about $650,000 to a bank acccount not affiliated with True-Cut, bought a $29,000 Harley-Davidson motorcyle and spent $1,000 on golf expenses, among other expenditures he made for his personal benefit, prosecutors said.
Brenizer is set to be arraigned Wednesday. His attorney, listed in online records as federal public defender Katherian Roe, didn't immediately respond to an email Friday afternoon seeking comment.
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