Illinois man’s $14M PPP loan fraud lands him a decade in prison
A south suburban Chicago-area man, Sharhabeel Shreiteh, was sentenced to 120 months in federal prison for leading a $14 million Paycheck Protection Program loan fraud scheme. He filed more than 1,500 false PPP loan applications for about 1,025 clients, causing roughly $14 million to be dispersed, most of which was forgiven. He received about $740,000 in kickbacks, spent it on luxury purchases and vacations, and sent hundreds of thousands of dollars to his second wife in Palestine. Co-defendant charges are pending, and he faces a related tax fraud case.