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Government Actions
Niagara Falls Man Pleads Guilty To COVID-19 Fraud
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
August 31, 2022 BUFFALO, N.Y.-U.S. Attorney Trini E. Ross announced today that Leo Benevento, 57, of Niagara Falls, NY, pleaded guilty to wire fraud before U.S. District Judge Richard J. Arcara. The charges carry a maximum penalty of 20 years in prison, and a fine of $250,000.
Assistant U.S. Attorney Russell T. Ippolito, who is handling the case, stated that Benevento fraudulently obtained two loans from the Small Business Association under the Economic Injury Disaster Loan (EIDL) Program, which was designed to provide low-interest loans to qualifying small businesses to help them meet financial obligations and operating expenses in the event of a disaster. Benevento submitted two false applications for loans related to his businesses, “WNY 24 7 Realty” and “Benevento Realty,” grossly inflating annual revenue and grossly underreporting annual expenses for the businesses. As a result of the falsified applications, the SBA approved and funded loans totaling $117,300 under the EIDL Program. Benevento has reimbursed the SBA for the fraudulently obtained loans. For more details go to the Department of Justice's press release.
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