Monday, July 27, 2020

Mukund Mohan busted for $5.5m Covid-19 fraud

Mukund Mohan, the chief technology officer of Vancouver-based BuildDirect, was arrested last week and charged with one count of wire fraud and one count of money laundering.

The former director of engineering at Microsoft submitted at least eight fraudulent applications for forgivable loans seeking a total of more than US$5.5m through a program intended to provide emergency payroll assistance for companies impacted by COVID-19. None of the companies existed.
Mohan transferred “at least (USD) $231,000 in fraudulently obtained loan proceeds to his personal brokerage account for his personal benefit.”