A Michigan man was sentenced Tuesday to 32 months in federal prison for fraudulently seeking nearly $1 million in Small Business Administration (SBA) Paycheck Protection Program (PPP) loans under the Coronavirus Aid, Relief, and Economic Security (CARES) framework. Law.
Michael Bischoff, 60, of Macomb County, pleaded guilty to bank fraud on November 23, 2020 in the Eastern District of Michigan.
According to court documents, Bischoff, who owned several Macomb County pizzerias, admitted to defrauding several financial institutions by submitting at least nine fraudulent PPP loan applications that included false statements about payroll, business expenses and the number of employees employed. in his restaurants.
To help secure PPP loans, Bischoff also filed multiple fabricated tax documents and fraudulently used someone else’s personally identifiable information.