Gilbert man sentenced to 4 years in prison for COVID-19 aid fraud
Apr 12, 2022, 4:25 AM
(Pexels Photo)
(Pexels Photo)
PHOENIX — A Gilbert man was sentenced last week to four years in prison for fraudulently obtaining millions in COVID-19 aid money.
James Theodore Polzin, 48, pleaded guilty in October to getting the Paycheck Protection Program loans and Economic Injury Disaster loans through the CARES Act, according to a press release from the United State Attorney’s Office for the District of Arizona.
Polzin submitted false loan applications of over $3.5 million between April 2020 and August 2020.
He claimed nonexistent employees and revenues for business ventures he owned and operated, according to the release.
Polzin then used some of the money to buy a Porsche, a home and stashed money offshore.
As part of his sentencing, Polzin will have to pay back $2.2 million in restitution.
The case was investigated by the Internal Revenue Service Criminal Investigation, Homeland Security Investigations and the Federal Bureau of Investigation.
