An Indian-origin dentist aged 46, residing in the US, has admitted his guilt in misappropriating $500,000 of COVID-19 relief funds over a two-year span, diverting the money for personal purposes such as investments, according to an official statement.
Ranjan Rajbanshi, who managed a dental practice in California, was granted more than $850,000 in COVID-19 relief funds between April 2020 and February 2022 from the Small Business Administration (SBA) and the US Department of Health and Human Services (HHS). These funds were intended for specific business needs such as facility expenses, staff payroll, and protective equipment.
On a recent occasion, Rajbanshi confessed to utilizing $500,000 of the relief funds for personal expenses, particularly investments, as stated in a press release by the Department of Justice. He has agreed to reimburse this amount to the government prior to his sentencing.
The investigation into this case was initiated by the joint efforts of the Federal Bureau of Investigation, the SBA Office of Inspector General, and the HHS Office of Inspector General, as highlighted in the press release.
If convicted, Rajbanshi could face a maximum prison term of 10 years and a fine of up to $250,000. A US District Judge is scheduled to announce his sentence on December 4.
Established in 2021, the COVID-19 Fraud Enforcement Task Force strengthens endeavors to probe and take legal action against the most responsible domestic and international criminal individuals. The task force was instituted to amplify the fight against pandemic-related fraud, aiding agencies entrusted with managing relief programs to forestall similar occurrences.
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