SANTA ANA—An Orange County man was arrested May 7 on federal charges alleging he fraudulently obtained about $5 million in Payment Protection Program (PPP) loans for his sham businesses, then used the money on himself, including purchasing Ferrari, Bentley and Lamborghini sports cars.
Mustafa Qadiri, 38, of Irvine, was named in a federal grand jury indictment returned Wednesday charging him with four counts of bank fraud, four counts of wire fraud, one count of aggravated identity theft, and six counts of money laundering, according to the U.S. Attorney’s Office.
