The US Federal Bureau of Investigation (FBI) has arrested Pakistani-born businessman Fahad Shah on charges of embezzling 1.5 million dollar, fraud and money laundering in the Corona Relief Fund program.
According to officials, Fahad Shah, a Pakistani-American who owns Wedding for Farah, could face up to 10 years in prison if convicted.
Fahad Shah was arrested and produced in the court of Eastern Texas Magistrate Judge Christine A. Novak. In the petitions, Fahad Shah claimed to have paid more than 120 employees when in fact none of his employees were working in these companies.
Apart from money laundering, the main allegation against Fahad Shah is that he received more than 1.5 million from government funds and used the money for personal use. After receiving the money, the accused allegedly paid 60,000 for himself. Bought the car while spending money on other personal investments and payments and deposited 500,000 in one of his e-trade accounts and paid for the house with the same amount.
It should be noted that the US government had allocated 700 billion for the small business affected by Corona under the pay check production program in which many frauds are now coming to light.
U.S. Attorney Stephen Cox said in a statement that he was the third person to be sued for fraudulent loans under the program.
Media contacted Fahad Shah and tried to get his position, but he did not pick up his phone.
It is believed that Fahad Shah hails from Hyderabad, Pakistan and he also provides services in many musical concerts and other events held here. The Pakistani community in the United States is expressing regret over this news.