BOISE – A Las Vegas man was sentenced Monday to 70 months in federal prison for bank fraud and aggravated identity theft.
According to court records, between May and December 2022, 63-year-old Anubor Bagbi obtained fraudulent or stolen checks issued to legitimate companies, then established fraudulent bank accounts in various states using the name of the business payees on the stolen and fraudulent checks.
In order open the fraudulent business accounts, Bagbi registered the business names with the Secretary of State and obtained employer identification numbers from the IRS.
He used the fraudulent documents, false identifications, and fabricated tax documents and utility bills to open the accounts. Several of the identifications Bagbi used contained the real names of identity theft victims.
In addition to the bank fraud scheme, beginning in April 2020, Bagbi applied for and received funds though the Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) under the CARES Act. Bagbi submitted fraudulent documents and applications in both his own name and other individuals’ names for businesses that did not exist. As a result, Bagbi caused a loss of $664,828.
In total, the bank fraud and COVID fraud schemes resulted in a loss of $886,879.86.
U.S. District Judge Amanda K. Brailsford also sentenced Bagbi to five years of supervised release and to pay full restitution.