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PALOS HILLS, Ill. - A Palos Hills accountant and a Joliet business owner have been indicted on federal charges for allegedly fraudulently obtaining more than $7.8 million in small business loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Sharhabeel Shreiteh, 43, of Crete, was charged with 13 counts of wire fraud, and Tracy Mitchell, 49, of Plainfield, was charged with 10 counts of wire fraud.
Shreiteh, an accountant in Palos Hills, and Mitchell, the owner of a business in Joliet, allegedly recruited purported sole proprietors, self-employed individuals and businesses to provide personal identifying information, bank statements and other documents and then submitted fraudulent PPP loan applications on their behalf.
PPP loans allowed the interest and principal to be forgiven if the businesses spent a certain amount of the loan on essential expenses, such as payroll and rent.
In exchange for preparing and submitting the fraudulent applications, Shreiteh and Mitchell allegedly received at least $1,000 to $4,000 per successful loan.
Mitchell pleaded not guilty during his arraignment Tuesday in federal court in Chicago. Shreiteh’s arraignment has not yet been scheduled.