UPDATE: March 17, 2022 – On Thursday, a news release confirmed the conviction and sentencing of Anthony J. Boncimino, 47, from Sycamore, Georgia.
On March 16, 2022, Bonicimino received 36 months in prison and three years of supervised release.
Additionally, U.S. Court District Judge Louis Sands ordered Bonicimino to $802,321.28 in restitution to the Small Business Administration.
The restitution is an addition to the $507,556.23 loan seized from Bonicimino’s bank account during the investigation.
Bonicimino also reimbursed over $1.3 million on the two loans before sentencing. Before his conviction, Bonicimino pleaded guilty to one count of money laundering.
VALDOSTA, Ga. (WRBL) – According to a news release from the United States Department of Justice, one Georgia man pleaded guilty to laundering more than $2.6 million.
Anthony J. Boncimino, 47, of Sycamore, Georgia filed for PPP loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
According to court documents, Boncimino falsified information for two fictitious companies. In order to get the PPP loans, he submitted fake payrolls, fake IRS forms, and other fraudulent records to collect a total of $2,671,871.74 from four PPP loans coming from three banks.
Nov. 8, Boncimino pleaded to the one count of money laundering before U.S. District Judge Louis Sands in Valdosta, Georgia.
Now, Boncimino is facing up to ten years in prison to be accompanied with a $250,000 fine. His sentencing is set to take place Feb. 24, 2022.
One special agent shared in a news release the efforts being taken against those who choose greed.
“While businesses were suffering and trying their best to make it through the pandemic, others chose greed. IRS-CI will continue to use its financial expertise to track and recommend prosecution of criminals taking advantage of a crisis,” said James E. Dorsey, Special Agent in Charge IRS-Criminal Investigation.
Small Business Administration-OIG Eastern Region, the Treasury Inspector General for Tax Administration and IRS-Criminal Investigation investigated the case.
Assistant U.S. Attorney Jim Crane is prosecuting the case.