Nevada Man Uses $2M in COVID-19 Relief on Las Vegas Strip Condos, Luxury Cars: Feds

Posted on: January 26, 2021, 02:56h. 

Last updated on: January 26, 2021, 04:55h.

Larry Henry Read More
Expertise: Commercial Gaming, Gaming Business, Legislation, Politics, Regulation.

A Nevada man has been charged with fraudulently receiving nearly $2 million in COVID-19 relief money, buying luxury cars and Las Vegas Strip condominiums, authorities said.

Veer Towers
The Veer Towers rise above the west side of the Las Vegas Strip. A Las Vegas man is accused of using federal PPP money to buy condos in the towers. (Image: Las Vegas Weekly)

In an unsealed criminal complaint, federal prosecutors said Jorge Abramovs has been charged with one count of bank fraud, according to the Las Vegas Review-Journal.?

Abramovs is accused of applying for Paycheck Protection Program funds with at least seven banks between April and June. These federal loans are intended for small businesses requesting money to survive.

By misrepresenting the number of employees he has and the size of his payroll, he received at least 11 loans totaling $1,986,737.46, authorities said.

Much of the money went to lifestyle splurges, according to authorities.

“Financial analysis shows that Abramovs spent the money on purchases of luxury items for himself, including the purchase of a 2020 Bentley, a 2020 Tesla, and two condominiums located in Veer Towers in Las Vegas, Nevada,” the criminal complaint states.

Casino Outings

In June, Abramovs posted photographs of himself gambling at Caesars Palace on the Strip, according to the Daily Mail.?

One Facebook image shows a video machine at Caesars Palace with a payout of more than $32,000 and the message, “Another win!!’ The image was posed June 13, according to the Daily Mail. Caesars Palace is a hotel-casino on the west side of the Strip.

Abramovs also indulged in luxury car purchases, authorities said.

On June 3, Abramovs bought a 2020 Bentley Continental GT Convertible for $260,982, the Review-Journal reported. On June 18, he paid $54,904.25 for a 2020 Tesla Model 3 after a trade-in.

Facebook images posted on Abramovs’ page on May 30 show a Bentley with the message, “My new baby as of Tuesday,” the Daily Mail reported.

In May, Abramovs bought his first condo in the Veer Towers in Las Vegas. The price was $225,638.59. About 80% of that money “constituted criminal proceeds from Abramovs’ PPP loan fraud scheme,” the criminal complaint states.?

A month later, Abramovs paid $412,000 for another condominium at the Veer Towers. Authorities said 99 percent of the funding “constituted criminal proceeds from Abramovs’ alleged PPP fraud scheme,” the newspaper reported.

The Veer Towers are in the CityCenter complex on the west side of the Strip.

Las Vegas Address

On loan applications, Abramovs indicated the PPP money would be applied to rent and payroll, authorities said.?

He used company names such as National Investment Group Corporation, National Legal Advisors in Care Of, and National Investment Group. The applications used variations of a South Fort Apache Road address in Las Vegas.

Abramovs certified on each loan application that he would not receive any other PPP loans, the newspaper reported.

A detention hearing was held this month for Abramovs. He was ordered remanded in custody.

This is not the first time someone has been accused of misusing PPP loans. In July, a Los Angeles man was charged with spending federal business relief money at Las Vegas casinos.

Two months later, a former National Football League player was accused of spending PPP funds at a Florida casino.