BRIDGEPORT, CT (WFSB) - A man from Woodbridge pleaded guilty to a scheme that defrauded a COVID-19 relief program out of $2.3 million.
Yasir Hamed, 60, waved his right to be indicted, according to Marc Silverman, acting U.S. attorney for the District of Connecticut.
Hamed entered his plea in Bridgeport on Friday.
Silverman said that in March 2020, the Coronavirus Aid, Relief, and Economic Security Act provided emergency financial assistance to Americans who suffered the economic effects caused by the pandemic.
One source of relief provided by the CARES Act was the authorization of forgivable loans to small businesses for job retention and certain other expenses through the Paycheck Protection Program. Silverman noted that the PPP was overseen by the U.S. Small Business Administration and that individual PPP loans were issued by private lenders, which received and processed PPP applications and supporting documentation, and then made loans using the lenders’ own funds, which were guaranteed by the SBA.
According to court documents and statements made in court, Hamed, an accountant, had an ownership interest or representative relationship with several New Haven-based businesses, including Access Consulting and Professional Services Inc., Connecticut Medical Transportation Inc., Arabic Language Learning Program Inc., Institute for Global Educational Exchange Inc., Access Medical Transport Inc., Ikea Car & Limo Inc., Center of the World Tours, North America LLC., and Sudanese American Friendship Association Inc.
Silverman said that between June 2020 and Sept. 2021, Hamed submitted fraudulent PPP loan applications on behalf of those companies. He overstated employee numbers and average monthly payroll, and made other fraudulent representations. As part of the applications, he submitted false tax filings that had never been filed with the IRS.
Hamed also submitted PPP loan applications on behalf of companies owned by his clients. In at least one instance, Silverman said Hamed convinced the owner of a business, which he knew was not active and had no employees, to seek PPP funding. Hamed prepared the paperwork for the PPP application and then took a significant portion of the loan proceeds.
Through the scheme, Silverman said Hamed obtained than $2.3 million in PPP loans for his businesses and for his clients, receiving more than $1 million in loan proceeds for himself and his family, and significant kickbacks from his clients. Hamed used the funds for personal expenses, including education expenses for a family member, and for a down payment on a $880,000 house in Woodbridge that he purchased in Oct. 2020.
Hamed agreed to pay $2,384,772 in restitution.
He pleaded guilty to bank fraud and engaging in illegal monetary transactions. Sentencing was set for Aug. 8.
Hamed was arrested on Nov. 13, 2024.
He was released on a $500,000 bond.
Copyright 2025 WFSB. All rights reserved.