Washington Man Admits to $700 in Fraudulent COVID-19 Loans

Alfredo Cuadros

A Washington Man is facing wire fraud charges in connection to a scheme to collect funds in the name of COVID-19 relief.

46 year old Austin Hsu of Issaquah pleaded guilty in federal court to submitting 9 fraudulent loan applications and receiving 700-thousand dollars in covid relief funds.

The man is said to have first submitted a Economic Injury Disaster Loan for a company by using information of current and former employees, then Proceeded to re-apply for additional Paycheck Protection Program loans using the same names under other companies he owned.

Hsu applied for 1.1 million dollars in relief and obtained $700,000. 

He also admitted to incorporating a business in June of 2020 with the purpose of applying for a loan in July. 

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