PORTLAND, Maine — A Rockport man is facing up to a 30-year sentence and fine of $1 million after pleading guilty to Paycheck Protection Program loan fraud on Wednesday in U.S. District Court in Portland.
Mark X. Haley II, 42, filed nine fraudulent PPP loan applications and received more than $1 million in fraud proceeds as a part of a bank fraud scheme, according to a news release from the U.S. Attorney's Office, District of Maine.
Haley filed the applications at two banks for businesses under his control, where he listed false employee and payroll information and submitted fraudulent documents including false tax returns, timesheets, and bank records, the release stated.
He reportedly received a total of $1,010,581 in PPP funds.
According to the release, Haley now faces up to 30 years in prison, five years of supervised release, and a $1 million fine.
"Haley will be sentenced after the completion of a presentence investigation report by the U.S. Probation Office," the release stated. "A federal district judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors."
The case was investigated by the IRS, Criminal Investigations division.