MIAMI — A South Florida nurse lied to secure $420,000 in coronavirus relief funds, then embezzled the money, federal prosecutors said.
Giraldo Caraballo, 55, applied for and was approved for a Paycheck Protection Program loan for his company, Professional Skills, claiming the company had 28 employees and an average monthly payroll of $168,000. He also applied for an Economic Injury Disaster Loan and received about $55,000.
Instead of using the money for payroll, Caraballo misused it, transferring it to other accounts and spending it on personal expenses, prosecutors said.
Caraballo was arrested and charged with engaging in transactions in unlawful proceeds and making false statements to a financial institution. He made his initial appearance Friday in Miami federal court.
The Paycheck Protection Program offered billions of dollars in forgivable loans to small businesses across the country as part of the first coronavirus relief package approved in March.
The Associated Press contributed to this report.
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