Wednesday, Aug. 26, 2020 | 4:24 p.m.
A Nevada man has been accused of fraudulently obtaining about $500,000 in loans from COVID-19 relief programs and then laundering the money through friends and family so he could buy a house.
Authorities said 49-year-old Brandon Casutt of Henderson was arrested last Friday and made his initial court appearance Tuesday before a federal judge.
The criminal complaint accuses Casutt of making false statements to a financial institution, wire fraud, bank fraud, concealment money laundering, and engaging in unlawful monetary transactions.
Casutt allegedly received a Paycheck Protection Program loan of about $350,000 in the name of a fake business and an Economic Injury Disaster Loan of about $150,000 in the name of a bogus charity.
He then allegedly laundered the PPP funds by writing checks to 23 different people—friends, family members, associates and himself—each in the amount of $8,330.
Authorities said Casutt had the funds diverted to a bank account in the name of the fake foundation and used the money to buy a $400,000 house in Henderson which he and his family moved into two months ago.
It was unclear Wednesday if Casutt has a lawyer yet who can speak on his behalf.
