A Somerset County man admitted in federal court on Monday that he conspired to obtain more than $852,000 in paycheck protection loans meant to help distressed small businesses at the height of the coronavirus pandemic.
Butherde Darius, 50, of North Plainfield, pleaded guilty in Trenton federal court to one count of conspiracy to commit bank fraud and one count of money laundering, according to U.S. Attorney Philip R. Sellinger.
According to charging documents, Darius conspired with an unnamed suspect to submit a fraudulent loan application to lenders to obtain money through the federal Paycheck Protection Program.