CLEVELAND (WJW) – A family accused of stealing millions of dollars in small business loans, had their indictment unsealed by a federal grand jury in Cleveland recently.
According to the indictment Zaur Kalantarli, Ali Kalantarli, and Aydin Kalantarov created around 70 businesses, all claiming to farm organic food.
As it turns out, none of those were real.
In total, the three men are accused of receiving around $7 million worth of loans that were a part of the CARES Act.
Each application submitted was worth $150,000 each.
In a statement to FOX 8, Aydin Kalantarov’s lawyer confirmed that after months of negotiations, his client entered a resolution with the U.S Attorney’s office taking full responsibility for his actions.
The total amount Kalantarov has agreed to take responsibility for is $2.1 million.
Zaur’s attorney has not responded to requests for comment. Ali’s attorney was not listed in court documents.
Each of the men are accused of buying several homes and other valuables with the swindled money. Authorities have been busy seizing that property.
All three men will be back in court next week.