New Jersey Man Pleads Guilty to Bank Fraud Conspiracy Involving More Than $1 Million in Fraudulent Pandemic Relief Loans
Xanare Bomani admitted to conspiring to defraud financial institutions and the SBA through fraudulent PPP and EIDL applications, according to the U.S. Attorney's Office for the District of Idaho.
2 reports on this incident · first at Sep 8, 2026, 10:42 a.m. ET
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Sep 8, 2026, 10:42 a.m. ETFirst report
New Jersey Man Pleads Guilty to Bank Fraud Conspiracy Involving More Than $1 Million in Fraudulent Pandemic Relief Loans
BOISE, Idaho — Xanare Bomani, of New Jersey, pleaded guilty to conspiracy to commit bank fraud, the U.S. Attorney's Office for the District of Idaho announced on September 8, 2026. According to court records, between July 2020 and April 2021, Bomani worked with co-conspirators to falsify financial information and submit false applications to financial institutions in Boise and elsewhere to fraudulently obtain more than $1 million in COVID relief funds through the Paycheck Protection Program and Economic Injury Disaster Loan program.
Bomani faces a maximum penalty of 30 years in federal prison, a fine of up to $1 million, and up to five years of supervised release, along with restitution as determined by the court. Sentencing is scheduled for December 15, 2026, before Senior U.S. District Judge B. Lynn Winmill. The case was investigated by the Buffalo field offices of the IRS-CI and FBI, and is being prosecuted by Assistant U.S. Attorney Brittney Campbell.
The charges are allegations, and Bomani is presumed innocent until proven guilty. The case is part of the Department of Justice's Fraud Division, which was created on April 7 to investigate and prosecute fraud against the American people.
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- Version 18 Sept 2026, 14:52current
First published.
- Version 18 Sept 2026, 14:42current
First published.
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