Quick Hit: Update on Raleigh man indicted for $1M COVID fraud
Wilson Alfredo Olivera-Borda had his day in court last month.
There’s been an update in the a COVID fraud case previously reported on by More To The Story.
A More To The Story July quick hit reported on a Raleigh man named Wilson Alfredo Olivera-Borda, who was indicted for a COVID Paycheck Protection Program fraud scheme of over $1 million. At that time, Olivera-Borda was charged with nine counts of wire fraud involving federal disaster-related relief funds and benefits.
In late November, Olivera-Borda pleaded guilty to those nine counts and a sentencing hearing is scheduled for Feb. 24, 2025. According to a press release from the Eastern District of North Carolina, he is facing a "statutory maximum of 30 years imprisonment and a fine of up to $1,000,000."
“This businessman pocketed over $1 million in PPP relief funds by submitting bogus tax returns suggesting his business had legitimate operations and employees. When the FBI dug in, the house of cards came tumbling down,” said U.S. Attorney Michael F. Easley, Jr. “We should be proud to live in a nation that cares for the needy and moves quickly to handle the greedy. Law enforcement is working daily to root out fraud on public programs.”
Olivera-Borda had at least 16 businesses, including his main Ameriserv LLC company, which he used to perpetrate the scheme.
Olivera-Borda also possibly used business he had set up in Peru that may have been involved.
According to tips I've received and case information, Olivera-Borda used the fraudulently obtained PPP money to buy real estate in order to “wash” the money.
A source with inside information in the case indicated Olivera-Borda's citizenship was allegedly gained under false circumstances and that for a period of at least ten years, he used at least two separate aliases based on his full name to commit various fraud crimes. Each alias had its own social security number and driver's license.
Olivera-Borda is not the only COVID relief scammer the Eastern District has had in the headlines in the past year.