A California man who spent COVID-19 relief loans on a Ferrari, a Bentley and a Lamborghini was sentenced to four-and-a-half years in prison Friday.
Mustafa Qadiri, 42, of Irvine, was also ordered to pay $2.8 in restitution and a $20,000 fine,Qadiri had fraudulently obtained $5 million in pandemic relief loans, and used the money to live large — buying the pricey cars and taking lavish vacations, prosecutors said.
He had filed applications for the federal Paycheck Protection Program in May and June of 2020 on behalf of four separate Newport Beach companies that were actually defunct at the time, according to officials. Qadiri created fake tax returns and falsified bank balances in exchange for the funds, which Congress had allocated to provide emergency aid to small businesses that were being paralyzed by the pandemic.
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