Giraldo Caraballo Wiki
Giraldo Caraballo Biography
Giraldo Caraballo applied for and was approved for a Paycheck Protection Program loan for his company, Professional Skills, alleging that the company had 28 employees and an average monthly payroll of $ 168,000. He also applied for an Economic Damage Disaster Loan and received about $ 55,000.
Giraldo Caraballo made his initial appearance Friday in federal court in Miami. He is charged with engaging in illicit income transactions and making false statements to a financial institution.
Caraballo applied for and received a loan from the Paycheck Protection Program on behalf of his business, Professional Skills Inc., according to a criminal complaint. He claimed the company had 28 employees and an average monthly payroll of $ 168,000, which the investigators said was not true.
Giraldo Caraballo Age
Giraldo Caraballo is 55 years old.
Charged and arrested
The complaint also alleges that Caraballo applied for and received approximately $ 55,000 in Economic Damage Disaster Loan. Rather than using the money for payroll, prosecutors said Caraballo transferred the money to other accounts and used it for personal expenses.
Online court records did not include a defense attorney who could comment on the case against Caraballo.
The Paycheck Protection Program represents billions of dollars in forgivable small business loans for Americans battling the COVID-19 pandemic. It’s part of the coronavirus relief package that became federal law in March.
The Economic Injury Disaster Loan program is administered by the US Small Business Administration.The program provides low-interest financing to small businesses, renters, and homeowners in regions affected by declared disasters.
Instead of using the money for payroll, Caraballo misused it, transferring it to other accounts and spending it on personal expenses, prosecutors said.
Caraballo was arrested and charged with dealing with illicit profits and making false statements to a financial institution. He made the initial appearance for him on Friday in federal court in Miami.
The Paycheck Protection Program offered billions of dollars in forgivable loans to small businesses across the country as part of the first coronavirus relief package approved in March.