At the center of the scheme, according to federal prosecutors, is former Internal Revenue Service agent Frank Mosley, who was also identified as a “current city of Oakland tax enforcement off…
OAKLAND — A 58-year-old Oakland man and six others have been charged with various crimes related to a multi-million dollar COVID-loan fraud scheme, a U.S. Justice Department spokesman said Wednesday.
According to charging documents, Mosley took advantage of the federal government’s COVID-era Payroll Protection Program by submitting fraudulent applications and then using the loan money for personal expenses and investments. Also charged were his brother, Reginald Mosley, 60, and friends Aaron Boren, 56, of Roseville, Scott Conway, 52, of Rocklin, and Marcus Wilborn, 50, of Elk Grove.
In addition, charging documents said the Mosley brothers’ August 2020 application for their shell company, Forward Thinking Investors, Inc., drew just over $1 million, leading Reginald Mosley to get Boren, Conway and Wilborn, who each owned companies before February 2020, to submit their own PPP loan applications.
The men are charged with conspiracy to commit bank fraud and face up to 30 years in prison. The Mosley brothers face an additional maximum of three years in prison for aiding and advising in filing of false tax returns. Ellis faces her own separate bank fraud charge, with a maximum sentence of 30 years in prison.
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