Business ProfileforEI Team, Inc.
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The following describes a pending government action that has been formally brought by a government agency but has not yet been resolved. We are providing a summary of the government’s allegations, which have not yet been proven.
BUFFALO, N.Y. - U.S. Attorney James P. Kennedy, Jr. announced today that Hormoz Mansouri, 67, of Amherst, NY, was charged by criminal complaint with wire fraud, bank fraud, conspiracy to commit wire fraud and bank fraud, and money laundering. The charges carry a maximum penalty of 30 years in prison and a $1,000,000.
Assistant U.S. Attorney Michael DiGiacomo, who is handling the case, stated that according to the complaint, Mansouri filed fraudulent Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) loan applications with the Small Business Administration (SBA) and local financial institutions under the Coronavirus Aid, Relief, and Economic Security (CARES Act). Specifically, Mansouri, who controlled eight different business entities, including HLM Holding LLC, El Team Inc., NPTS Inc., 2060 Sheridan Drive LLC, 212 Holden Avenue LLC, 350 Old Niagara Falls Boulevard LLC, 47 East Amherst LLC, and 3600 Harlem Road LLC, applied for 16 different (two per entity) PPP loans and eight different EIDL loans.
As alleged in the complaint, the amount of PPP loans a given entity is entitled to is determined in part by such entity’s average monthly payroll expenses. For each of the 16 PPP loans that the Mansouri-controlled entities obtained, the average monthly payroll was either inflated or completely fabricated. In fact, contrary to the applications submitted, six of the eight entities had no actual employees or payroll expenses at all. Similarly, the Mansouri-controlled entities also made false representations and provided fraudulent documentation in support of EIDL applications. Between March 2020, and May 2021, Mansouri received 16 PPP loans totaling $3,074,000 and seven EIDL loans totaling $450,600. Had Mansouri provided accurate information in support of the applications, his entities would have qualified for significantly smaller loan amounts or no loans at all. For more details, go to the U.S. Attorney Office's press release.
At-a-glance
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Business Details
- Location of This Business
- 2060 Sheridan Dr., Buffalo, NY 14223
- BBB File Opened:
- 8/30/2021
- Business Incorporated:
- 9/17/1921
- Type of Entity:
- Corporation
- Alternate Business Name
- E.I. Team, Inc.
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