The proprietor of two Niagara Falls actual property firms admitted Wednesday in federal courtroom that he lied to acquire Covid-19 pandemic aid loans totaling $117,300 final 12 months. 

Leo Benevento, 57, of Niagara Falls, pleaded responsible to a wire fraud cost that alleged he obtained loans from the Small Enterprise Administration’s Financial Harm Catastrophe Mortgage program by grossly inflating his companies’ revenue and underreporting its bills, based on Assistant U.S. Lawyer Russell T. Ippolito. 

That program was designed to assist companies experiencing a short lived lack of income as a consequence of Covid-19. 

Benevento, who owns WNY 24 7 Realty and Benevento Realty, has repaid the $117,300 to the SBA, the U.S. Lawyer’s Workplace mentioned.

Benevento is scheduled to be sentenced by U.S. District Decide Richard J. Arcara on Dec. 19. Federal sentencing tips name for him to be despatched to jail for 1 to 1½ years. His most punishment might be 20 years in jail.