A Beverly Hills man has been sentenced to federal prison for stealing millions of dollars in pandemic assistance funds.
Jabari Long, 46, pleaded guilty to conspiring to commit wire fraud, using a contracting business — “Priceless Preservations Construction” — to fraudulently obtain a $2,187,000 loan through the federal Paycheck Protection Program, and a $150,000 bogus loan through the federal Economic Injury Disaster. Officials said he claimed the business had 50 employees and an $875,000 average monthly payroll. However, the company had “few, if any, employees and little to no payroll expenses,” according to the Department of Justice.
Within weeks of receiving the funds, Long used some of the money to buy a four-bedroom home in Beverly Hills, the DOJ stated. Long also admitted that he submitted false tax documentation to obtain the loan funding, the DOJ stated.
Long was also ordered to pay $2,187,000 in restitution and serve three years on supervised release after he’s let out of prison.
Paycheck Protection Program loans didn’t require repayment if the funds were used for authorized business expenses and the borrowers applied for loan forgiveness.
“Jabari Long falsely claimed to employ dozens through his so-called company ‘Priceless Preservations.’ But the only thing he preserved through this fraud was his greed. And his scheme wasn’t priceless at all; it carried a significant price he’s now being forced to pay,” U.S. Attorney Jerome Gorgon stated in a news release.
Added HSI Special Agent in Charge Jeremy Pierczynski: “Legitimate businesses that followed the rules and relied on pandemic-assistance programs in good faith deserve protection from those who seek to abuse those programs for personal enrichment. When fraudsters submit false information, invent payrolls, or misrepresent their operations to steal taxpayer-funded assistance, they undermine public trust and divert resources from the businesses and workers these programs were designed to support. HSI remains committed to working with our law enforcement partners to identify, investigate, and root out those who exploit federal programs to line their own pockets.”
Last April, the DOJ announced the creation of the National Fraud Enforcement Division to investigate and prosecute fraud, supporting President Donald Trump’s Task Force to Eliminate Fraud, chaired by Vice President J.D. Vance.