Georgia man accused of obtaining $2.6M in fraudulent PPP loans

SYCAMORE, Ga. — Department of Justice officials said a Georgia man is facing charges after he allegedly obtained $2.6 million in federal PP loans for businesses that may not have existed.

Anthony Boncimino, 46, who lives in Sycamore in Southwest Georgia, was indicted on July 8 with four counts each of bank fraud, money laundering and making false statements.

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According to the indictment, Boncimino submitted at least four fraudulent loan applications for loans on behalf of shell companies, although the companies suffered no losses.

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Government officials said the businesses either did not exist, did not conduct business or only existed on paper.

“Fraudsters who attempt to capitalize during a global pandemic will face the possibility of federal prosecution for their crimes,” said Acting U.S. Attorney for the Middle District of Georgia Peter D. Leary.

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Boncimino faces a total of 45 years in prison.

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