Dr. Ranjan Rajbanshi, a 46-year-old Indian-origin dentist based in the United States, has recently pleaded guilty to stealing $500,000 in COVID-19 relief funds over a span of two years.
The relief funds, totaling over $850,000, were allocated to him by the Small Business Administration (SBA) and the US Department of Health and Human Services (HHS) for specific business purposes related to the pandemic.
However, instead of using the funds as intended, Dr. Rajbanshi diverted $500,000 for personal expenses and investments. These unauthorized expenditures came to light due to a thorough investigation conducted by the Federal Bureau of Investigation (FBI), the SBA Office of Inspector General, and the HHS Office of Inspector General.
To rectify his actions, Dr. Rajbanshi has agreed to repay the stolen funds before his sentencing. If convicted, he faces a maximum penalty of 10 years in jail and a fine of up to $250,000. The sentencing is scheduled to take place on December 4.
