"A Hawaii man has been taken into custody on allegations he fraudulently obtained more than $12.8 million in Paycheck Protection Program (PPP) loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act," the release said on Wednesday.
Martin Kao, 47, who is the chief executive officer of Navatek LLC, now known as Martin Defense Group LLC, had falsely inflated the number of employees on the loan application, according to the release.
He has been charged with two counts of bank fraud and five counts of money laundering, the Justice Department said.
