An Alexandria man pled guilty on Wednesday (July 23) to defrauding pandemic relief programs of nearly $1.5 million, according to the U.S. Justice Department.
Dr. Muhammad Adil Quraish, 35, is a former Air Force dentist, and a financial advisor. Quraish admitted to conspiring with at least four other people to submit false Paycheck Protection Program (PPP) loans and an Economic Injury Disaster loan, and using the funds to invest in cryptocurrency, according to a release from U.S. Attorney Erik S. Siebert of the Eastern District of Virginia.
According to DOJ:
After learning of the PPP and EIDL programs, Quraish discussed applying for EIDL and PPP loans with co-conspirators with intentionally inflated and falsified payroll information to receive loans that the businesses were not entitled to receive. Quraish inflated the numbers of employees each entity claimed as well as quarterly and annual payroll figures for several entities. Quraish created falsified payroll records and falsified IRS tax forms, and falsely certified or caused to be falsely certified that such forms had been filed with the IRS.
Quraish and his co-conspirators personally profited $1,471,599 from the fraud conspiracy. Quraish used the fraud proceeds to invest in cryptocurrency, among other things.
Quraish committed the offenses from April 2020 to Dec. 2021, according to court records. In addition to pleading guilty, he agreed to asset forfeiture, and will be sentenced on Oct. 22.
He faces up to five years in prison and a fine of up to $250,000.
Quraish was a dentist in the U.S. Air Force from 2017 until 2022, and for a portion of his service was assigned to the Pentagon, according to court records. He also posted multiple inspiring interviews and press releases on his website.
In a May press release, Quraish talked about how reinventing yourself can lead to success.
“In observing those who have achieved extraordinary success, I’ve found they all share a common pattern in how they respond to setbacks,” Quraish said. “First, they lead with humility, allowing themselves to receive the lesson without ego. Second, they remain curious, studying their missteps with intention, seeking to understand and avoid them in the future. Third, they don’t let the setback disrupt their forward momentum. And finally, despite the obstacle, they double down on their efforts and keep moving forward. It’s this combination of humility, curiosity, resilience, and perseverance that sets the best apart from the rest.”
