The preparer, Sandeep Grover, and his client, Shikha Sehgal are accused of obtaining more than $13 million in PPP loans from seven financial institutions
Grover, age 54 of Massapequa, N.Y., is the owner of Excellent Business Services, a tax preparer firm, based in Seaford, N.Y. The Justice Department alleges he recruited Sehagl and others to open accounts for companies with no business, creating fake invoices and documentation in order to apply for PPP loans.
According to the charges, bank records show Grover moved millions of dollars in loan proceeds between many accounts his controlled, using those funds to purchase property, pay off personal loans, and pay expenses for other companies he owned.
Grover is also accused of misusing the IDs of one of his employees to obtain a loan.
Both Grover and Sehal are accused of major fraud against the U.S. and conspiracy to commit wire fraud and bank fraud as a result of the alleged offenses Grover. is also charged with one count of aggravated identity theft,