A 24-year-old New York resident has pleaded guilty to acquiring more than $7 million in Covid-19 relief through fraudulent loan applications and misleading investors in a fraudulent initial coin offering during 2018.
According to an April 20 announcement from the U.S. Department of Justice, Taiwanese national, Justin Cheng — also known as “Justin Jung” — Cheng submitted a series of online loan applications accompanied by forged tax and payroll records between May and August of last year.