31-year-old social media influencer Danish Sahadeva has pleaded guilty to a series of criminal charges related to money laundering using cryptocurrency.
US prosecutors accused Sahadeva of fraudulently obtaining more than $1.2 million in government aid loans.
A three-year criminal empire has collapsed
On May 31, the US Department of Justice (DOJ) issued a press release declaring TikTok influencer Danish Sahadeva guilty of multiple criminal offenses.
These crimes include wire fraud, aggravated identity theft, and money laundering.
According to the plaintiffs, an extended search of the defendant’s Potomac property led to the discovery of the fraudulent activity after three years of operation.
Sahadevan, known as Danny Devan on social media, allegedly defrauded Paycheck Protection Program (PPP) and Economic Disadvantaged Loans (EIDL) lenders and the Small Business Administration (SBA) of more than $1.2 million three times. Time of year. Criminal status.
The DOJ said Sahadeva began his criminal activities in March 2020 after submitting EIDL and PPP applications for four Maryland businesses he controlled.
To do this, he attached forged and falsified documents such as tax forms and bank statements.
While investigating the crime further, Sehadevan illegally obtained identity information of a tax preparer without their knowledge.
For his efforts, Sahadeva has successfully received $146,000 in PPP benefits after previously applying for 71 loans, which will amount to $941,000 if approved.
He then applied for eight EDL loans totaling $283,900 and tricked his father into being a co-signer.
He also put his father’s signature on the loan application.
According to the government statement, Sahadevan deposited all the ill-gotten gains in bank accounts previously created for the purpose.
He then invested the money in securities and cryptocurrencies to hide any traces.
In addition, the social media influencer used some of the money to pay off his debts and cover some of his girlfriend’s expenses.
Dissatisfied with his job, Sahadeva began applying for a $1,336,000 loan from a financial institution between December 16, 2021 and January 10, 2022.
In the application, Sahadevan failed to mention the $283,900 EIDL loan he had previously received from the US government, the amount of which was eventually approved.
He continued to use the money to buy property in Potomac, Maryland.
Can you live 32 years in a pen?
The TikTok influencer seems to be building a strong following on social media.
According to Business Insider, Sahadevan reportedly amassed 630,000 followers on TikTok at the peak of his career.