After receiving over $6.6 million in PPP (Paycheck Protection Program) and EIDL (Economic Injury Disaster Loan) funds by submitting falsified loan applications, Muhammad Noor Ul Ain Atta has pleased guilty to federal criminal charges and is being charged with wire fraud and laundering of monetary instruments.

According to the Atta’s plea agreement, 7 of his shell companies submitted 11 fraudulent PPP loan applications. The loan applications submitted misrepresented the number of employees and average monthly payroll expenses. Atta also submitted false payroll and tax documentation with his loan applications, and falsely certified the relief funds received would be used for permissible businesses purposes.

Atta’s companies were illegitimate recipients of relief funds at the time of his applications, however he still received $6,643,540 in PPP and EIDL loans. After receiving the loan proceeds, he laundered them to U.S. and Pakistan bank accounts.

For more details on this investigation, read the full press release from the IRS.