TRENTON, N.J. — A New Jersey couple admitted to fraudulently obtaining approximately $790,000 in federal Economic Injury Disaster Loans (EIDL) payments, U.S. Attorney Philip R. Sellinger announced on Tuesday. Diana Valteri, 42, and Edmond Haxhillari, 43, of Sparta, New Jersey, and Cypress, Texas, pleaded guilty on August 19, 2024, before U.S. District Judge Robert Kirsch in Trenton federal court to charges of wire fraud and money laundering.
According to court documents and statements made during the proceedings, Valteri and Haxhillari engaged in a scheme from June 2020 through August 2020 to secure COVID-19 emergency relief loans and cash advances under the EIDL program, a provision of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The couple submitted fraudulent loan applications on behalf of several businesses that falsely claimed to have employees and revenue. In reality, these businesses were shell companies with no operations. After successfully obtaining the $790,000 in EIDL funds, Valteri and Haxhillari diverted the money for personal use.
The wire fraud charge carries a maximum penalty of 20 years in prison, while the money laundering charge carries a maximum penalty of 10 years in prison. Each charge also carries a potential fine of up to $250,000, or twice the gross gain to the defendants or gross loss to the victims, whichever is greater. Sentencing is scheduled for January 22, 2025.
U.S. Attorney Sellinger credited the successful investigation to the collaborative efforts of the FBI, IRS Criminal Investigation, Social Security Administration Office of the Inspector General, and the Small Business Administration Office of the Inspector General.