U.S. Attorney Kenneth L. Parker | U.S. Department of Justice
U.S. Attorney Kenneth L. Parker | U.S. Department of Justice
Joseph Lentine III, a resident of Cincinnati, has been sentenced to 63 months in federal prison for his role in a COVID-19 relief fraud scheme. The U.S. District Court ruling came after Lentine was found guilty of orchestrating fraudulent activities involving millions of dollars.
Court documents revealed that Lentine led a scheme where he prepared and filed false loan applications. He also controlled a large portion of the proceeds from these loans once they were secured. Lentine knowingly made false statements to obtain funds unlawfully for himself and other applicants. His fraudulent activities extended beyond Small Business Administration loan programs to include unemployment assistance and emergency rental assistance.
Lentine submitted over 20 loan applications, seeking more than $3 million and successfully obtaining $1.5 million. From this amount, he personally received over $450,000 in Paycheck Protection Program (PPP) loan proceeds, which he used to purchase luxury items such as a yacht and a Mercedes Benz vehicle.
As part of his sentencing, Lentine is required to pay restitution totaling $1.2 million to the Small Business Administration and nearly $33,000 to the Ohio Department of Job and Family Services.
In April 2023, Lentine pleaded guilty to charges of conspiring to commit bank fraud and making false statements on loan or credit applications.
The sentence was announced by Kenneth L. Parker, United States Attorney for the Southern District of Ohio, alongside Elena Iatarola, Special Agent in Charge at the Federal Bureau of Investigation (FBI), Cincinnati Division. Assistant United States Attorney Ebunoluwa A. Taiwo is representing the United States in this case.
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