Dumfries, Va. — Kingsley Apenteng, 40, of Dumfries, has pleaded guilty to wire fraud related to his fraudulent application for and receipt of funds through the Paycheck Protection Program (PPP), the U.S. Attorney’s Office for the Eastern District of Virginia announced.
Apenteng, the registered owner of Pioneers Real Estate LLC (Pioneers), falsely claimed that the company employed nine people and paid a combined payroll of nearly $60,000 monthly during 2019 and the first quarter of 2020. In reality, Pioneers had no employees and was inactive during that time period.
To support his fraudulent PPP application, Apenteng fabricated IRS Forms 941 for 2019 and the first quarter of 2020 and used software to alter a bank statement to make it appear that payroll was being paid. Based on these false documents, Apenteng’s application was approved, and he received $149,740 in PPP loan funds on April 28, 2021.
In addition to the loan application, Apenteng also submitted a loan forgiveness request in November 2021, once again falsely claiming that the funds had been spent on employee wages. The loan forgiveness was granted, and the SBA reimbursed the lender for the full amount.
Apenteng now faces the consequences of his actions after misusing the PPP program, which was designed to support businesses during the COVID-19 pandemic. His fraudulent actions have led to significant legal penalties.
