Update: 24th July, 2020
Today, Mukund Mohan was arrested in the US for forging documents to fraudulently acquire more than $5.5 Mn from the coronavirus relief funds meant for startups to retain workers. Mohan had allegedly claimed these benefits by showing fraudulent tax filings and altered incorporation documents of six shell companies.
Mohan has been accused of creating fake and altered documents for six shell companies that did not employ anyone to get benefits from the Paycheck Protection Program (PPP). He, then, transferred some of the acquired money to his Robinhood brokerage account for his personal benefits.
The six companies include — Zuput, GitGrow, Vangal, Expect Success. Mahenjo Inc and Zigantic LLC.