Anyone with more information on the case can submit it online. | Stock Photo
Anyone with more information on the case can submit it online. | Stock Photo
After fraudulently receiving more than $840,000 in Paycheck Protect Program (PPP) loans, a St. Paul man has been indicted.
Kyle William Brenizer has been charged with money laundering and wire fraud, KSTP reported. He allegedly owned True-Cut Construction in Brooklyn Park, which was ordered to stop doing business in August 2018. The company's contractor license expired in December 2019.
But the indictment alleges he submitted a "false and misleading PPP application" for this businesses on May 1. On May 12, Brenizer submitted another application under a different name, claiming to be 90% owner of the company. He was seeking $841,000 and falsely claimed the monthly payroll was $336,400.
On May 13, his second request was approved. Brenizer transferred funds from the PPP loan to a bank account not under the business and spent it on a Harley-Davidson motorcycle, KSTP reported.
Brenizer will remain in custody until an arraignment hearing on Aug. 26.
If anyone has more information on Brenizer and his attempted fraud, the attorney's office is asking for you to submit the information by call 866-720-5721 or by submitting it online.
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