A Parker man faces a federal indictment for fraudulently obtaining funds through COVID-19 assistance programs over three years, the U.S. Attorney's Office for Colorado said on Wednesday.
Tarek Kassem, 63, is accused of applying for, and receiving, more than $1.4 million in Economic Injury Disaster Loans (EIDL) and more than $300,000 in Payroll Protection Program (PPP) funds between March 2020 and March 2023 using three business names, according to the indictment.
The applications contained a number of false and fraudulent certifications and representations. Kassem stated in his applications that the funds would be used to pay eligible business expenses, but the bulk of the money was used for Kassem's personal benefit, according to the indictment.
Kassem also applied for, and received, unemployment benefits from the State of Colorado during the COVID-19 pandemic, the U.S. Attorney's Office said.
The case is being investigated by the IRS - Criminal Investigation, FBI and the Department of Labor - Office of Inspector General.
Kassem made his first court appearance Tuesday, the U.S. Attorney's Office said.
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