Statewide NewsNorth Texas Man Allegedly Stole $24 Million in PPP Funds, Sent Cash to India, Paid off Mortgages

The Coppell resident was able to rip off almost $18 million and sent part of it to India, paid off mortgages, purchased a new home, and bought a luxury car.
October 14, 2020
A North Texas man has been indicted for money laundering and fraud after federal authorities say they uncovered a plot to use fake companies to defraud the Paycheck Protection Program (PPP) of $24 million.

Federal prosecutors announced last week that 55-year-old Dinesh Sah of Coppell has been charged in the U.S. District Court for the Northern District of Texas.

“Sah ultimately received approximately $17.7 million in PPP loan funds and allegedly used the proceeds primarily for personal expenses, spending them on multiple homes and luxury cars, including a 2020 Bentley convertible, and sending millions of dollars in international transfers, the indictment alleges,” the press release stated.

A special agent with the Federal Deposit Insurance Corporation (FDIC) Inspector General said in a criminal complaint affidavit that Sah used part of the proceeds from his fraud to send cash to India.

Special Agent in Charge Tamera Cantu of IRS Criminal Investigation’s Dallas Field Office characterized Sah’s actions as a “disgraceful display of greed.”

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“Mr. Sah looked at the Paycheck Protection Program as his own personal piggy bank, treating himself to not only millions in cash, but several luxury vehicles and properties, all while legitimate small business owners in the United States desperately sought out ways to put food on their tables and to ensure their employees were paid,” Cantu said.

Authorities say they have so far only been able to recover $6.5 million of the stolen funds.

The federal case against Sah is one more in a series of cases in Texas against those accused of abusing relief programs for small businesses.


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Hayden Sparks

Hayden Sparks is a senior reporter for The Texan and a lifelong resident of the Lone Star State. He has coached competitive speech and debate and has been involved in politics since a young age. One of Hayden's favorite quotes is by Sam Houston: "Texas has yet to learn submission to any oppression, come from what source it may."

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