Newark Reporter

A former resident of Monmouth County has admitted to participating in a scheme to fraudulently obtain funds from the Payroll Protection Program (PPP) and Economic Injury Disaster Loan (EIDL), as announced by U.S. Attorney Philip R. Sellinger.

Kevin Aguilar, 54, who previously lived in Farmingdale, New Jersey, pleaded guilty before U.S. District Judge Michael A. Shipp in Trenton federal court on October 15, 2024. Aguilar faced charges including conspiracy to commit bank fraud, multiple counts of bank and wire fraud, conspiracy to commit money laundering, money laundering, and aggravated identity theft.

Court documents reveal that between April 2020 and April 2021, Aguilar conspired with others to submit fraudulent loan applications for four businesses. These actions resulted in approximately $3.3 million from PPP loans and around $450,000 from EIDL funds being obtained under false pretenses. The funds were then transferred to other businesses created by Aguilar to make it appear they were used legitimately. Aguilar used the money for personal expenses such as purchasing residential properties in Sherman, Texas, and a new truck worth about $100,000.

The penalties for the crimes include up to 30 years in prison and a $1 million fine for each count of bank fraud; up to 20 years in prison and a $250,000 fine for each count of wire fraud; up to 10 years in prison and a $250,000 fine for money laundering charges; and an additional two-year mandatory minimum sentence plus fines for aggravated identity theft. Aguilar's sentencing is set for March 25, 2025.

Charges are still pending against Jean E. Rabbitt, another former resident of Farmingdale involved in the case. She remains innocent until proven guilty.

U.S. Attorney Sellinger credited several agencies with aiding the investigation: special agents from the Federal Deposit Insurance Corporation – Office of Inspector General led by Patricia Tarasca; IRS – Criminal Investigation under Jenifer L. Piovesan; Social Security Administration’s Office of Inspector General under Corwin Rattler; U.S. Postal Inspection Service under Christopher A. Nielsen; Federal Housing Finance Agency’s Office of Inspector General under Robert Manchak; and special agents from the U.S. Attorney’s Office for the District of New Jersey led by Thomas Mahoney.

Assistant U.S. Attorneys David V. Simunovich and Jennifer S. Kozar are representing the government in this case.

The District of New Jersey COVID-19 Fraud Enforcement Strike Force is one of five strike forces established nationwide by the Department of Justice to combat pandemic-related fraud on a large scale.

Individuals with information regarding COVID-19 related fraud can report it via the National Center for Disaster Fraud Hotline or through their online complaint form.