DC Man Cops To Using $2.4M In PPP Loans For Tesla, Crypto

By Gina Kim (April 11, 2022, 6:55 PM EDT) -- A man accused of receiving more than $2.4 million in Paycheck Protection Program loans using stolen identities, doctored tax returns and payroll records and using the cash on personal expenses including dog boarding, hotels and a Tesla pled guilty to wire fraud and money laundering in D.C. federal court Friday.

Federal prosecutors said in charging documents that Elias Eldabbagh, 30, used a business called Alias Systems LLC that he had created in August 2018 to apply for more than $30 million in PPP loans, and submitted at least four Economic Injury Disaster Loan applications totaling more than $950,000 between July 2020 and May 2021....

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!