FARMINGDALE, NJ – Kevin Aguilar, a former Farmingdale, New Jersey resident, was sentenced to 192 months (16 years) in federal prison for orchestrating a multi-million-dollar fraud scheme that exploited federal pandemic relief programs intended to support struggling businesses. The announcement was made by U.S. Attorney Alina Habba.
Aguilar, 54, pleaded guilty to several federal charges, including bank fraud, wire fraud, money laundering, and aggravated identity theft. His sentencing took place in Trenton federal court before U.S. District Judge Michael A. Shipp.
Between April 2020 and April 2021, Aguilar submitted seven fraudulent Paycheck Protection Program (PPP) applications and three fraudulent Economic Injury Disaster Loan (EIDL) applications. These bogus applications represented four different businesses, yielding approximately $3.3 million in PPP funds and $450,000 in EIDL funds.
Court records revealed that Aguilar laundered the stolen funds through businesses under his control, making them appear as legitimate financial transactions. He then used the fraudulently obtained funds to purchase residential real estate in Sherman, Texas, a $100,000 truck, and cover personal expenses.
In addition to his 16-year prison sentence, Judge Shipp imposed a five-year supervised release and ordered Aguilar to pay $3,772,567 in restitution. The court also issued a forfeiture judgment in the same amount, approving the seizure of $1.5 million from twelve bank accounts and three real properties in Texas acquired through the fraudulent proceeds.
The case was investigated by multiple federal agencies, including the FDIC Office of Inspector General, IRS-Criminal Investigation, U.S. Postal Inspection Service, Social Security Administration, Federal Housing Finance Agency, and the U.S. Attorney’s Office for the District of New Jersey.
The prosecution team included Assistant U.S. Attorneys David V. Simunovich, Jennifer S. Kozar, and Peter Laserna, working under the District of New Jersey COVID-19 Fraud Enforcement Strike Force—one of five task forces established by the U.S. Department of Justice to combat the widespread fraud associated with pandemic relief programs.
