Omaha man accused of pandemic business loan fraud

Omaha man accused of pandemic business loan fraud
Image: Andrey Popov/iStock/Thinkstock
July 28th, 2021 | Associated Press

OMAHA, Neb. (AP) — An Omaha man has been indicted on a federal charge of bank fraud after prosecutors say he lied to get a loan through a federal program meant to help businesses struggling in the wake of the COVID-19 pandemic.  The indictment against Yah says he was director of The Heartland News, a nonprofit newspaper, when he requested a Paycheck Protection Program loan of more than $100,000 for the business in April 2020. Yah said the loan was to support the newspaper’s payroll, but prosecutors say he lied about the number of employees and payroll of the nonprofit from the previous year. Reached by phone Tuesday, Yah denied prosecutors’ allegations, but said he could not yet comment further.

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