Metro Atlanta man charged with fraud, money laundering of COVID-19 funds

A Metro Atlanta man has been indicted on federal charges of wire fraud, identity theft, and money laundering conspiracy for stealing COVID-19 relief funds.

Nnamdi Iheanacho, 38, of Dacula “allegedly defrauded government funds during the COVID-19 pandemic involving state unemployment insurance funds and tax refunds from the Internal Revenue Service,” U.S. Attorney Ryan K. Buchanan said.

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Officials say Iheanacho’s alleged behavior “deprived the government of funding for its programs and possibly created financial instability for his victims of identity theft,” said Demetrius Hardeman, Acting Special Agent in Charge, IRS Criminal Investigation, Atlanta Field Office.

“IRS Criminal Investigation special agents and our law enforcement partners are diligently working to find those who show so much disregard to others in their pursuit of greed,” Hardeman said.

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Iheanacho violated The CARES Act, a new temporary federal program called Pandemic Unemployment Assistance that provided up to 39 weeks of unemployment benefits and funding to states for administration of the program.

An individual receiving these benefits might also receive a $600 weekly benefit in federal funds under the Federal Pandemic Unemployment Compensation program if he or she was eligible for such compensation for the week claimed.

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Iheanacho is accused of applying online for unemployment insurance benefits for numerous individuals using stolen personal identifying information. Simultaneously, Iheanacho allegedly filed federal income tax returns using stolen identity information. He then allegedly laundered the proceeds of his fraud schemes.

“This defendant is charged with taking advantage of our nation during an unprecedented time of a pandemic and stealing money intended to help others who were struggling,” said Keri Farley, Special Agent in Charge of FBI Atlanta. “We are proud to work with our partner agencies to investigate and stamp out these schemes.”

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