Raleigh County man pleads guilty to COVID-era business loan fraud | Local News
beckley – A Raleigh County man is awaiting sentencing in U.S. District Court after entering a guilty plea for theft of government money.
United States Magistrate Judge Omar J. Aboulhosn presided over the hearing on June 2 in which Ross Jay Bailey, 50, of Cool Ridge, pleaded guilty to obtaining a $2 million loan through the Coronavirus Aid, Relief, and Economic Security Act for his business and then converting at least $1.4 million in funds to “his personal enrichment,” states a news release from the U.S. Department of Justice.
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