A Madison man will spend more than three years in federal prison for his guilty pleas in two separate fraud cases.
The U-S Attorney’s Office says 49-year-old Ahmad Kanan was awaiting trial in an access device fraud case when he applied for two Paycheck Protection Program loans last year. He applied for a $72,000 CARES Act loan on behalf of Alkin Labs, Inc., but the bank noticed he spelled his name incorrectly and did not award funding.
He did receive a $47,000 PPP loan from a bank in New Jersey while under federal indictment. Kanan was indicted for using routing and account numbers from the Embassy of Libya to pay Wisconsin taxes, interest, and penalties.
The Libyan Embassy did not give him permission to use their bank account to make $191,000 in payments.
