Two males have been indicted by a federal grand jury in New Hampshire on a number of fraud prices alleging that they falsely utilized for $5 million in federal CARES Act loans for corporations and misused a few of the proceeds, together with one man’s buy of a Rolls Royce.

One man was based mostly in Northwood, New Hampshire, and the opposite initially was within the state and later moved to Irvine, California, in accordance with court docket paperwork.

Prosecutors allege that the 2 utilized for over two dozen loans for a minimum of seven corporations throughout the pandemic in 2020 and 2021, submitting fabricated tax paperwork that inflated their dimension and payroll.

The California man was arrested in Hawaii on Thursday, in accordance with court docket paperwork. It was not instantly recognized if he had an legal professional.

The New Hampshire man was arrested, launched, and faces a July eight listening to. A message was left for his legal professional.

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