A Burlingame business owner pleaded guilty Thursday in federal court to falsely obtaining $1.96 million in loans for his various enterprises by making false statement to three federally insured lenders and the federal Small Business Administration, the FBI announced Friday.
Nimer Anton Massis, 40, lied in three separate business loan packages in 2008 and 2009 for loans guaranteed by the SBA and issued by Mission National Bank, One California Bank and Capital Access Group, announced U.S. Attorney Melinda Haag and FBI Special Agent in Charge David J. Johnson.
At the time he applied for each, Massis was in default on approximately $630,000 in debt owed to Citibank but never disclosed the information. By the time federal investigators uncovered the fraud, Massis owed approximately $1.8 million and as of last month the debt was approximately $1 million.
Massis was indicted Oct. 8, 2013, on three counts of making false statements to a federally insured bank and one count of making a false statement to the United States. On March 13, he pleaded guilty to all counts and admitted knowing his statements to the lenders and SBA were false. He also admitted making them for the purpose of influencing the lenders to loan him the money, and in the case of the SBA, that the false statements were a key factor in securing the loan.
Massis will be sentenced July 23. He faces 30 years prison and a $1 million fine on each count of making false statements to the bank and five years prison and a $250,000 fine for the false statement to the United States.