Albany man admits to taking COVID relief money for closed restaurants
An Albany man has admitted to fraudulently obtaining pandemic relief benefits.
Scott Solomon, 37, pleaded guilty in U.S. District Court on Monday to two counts of bank fraud. Solomon applied for two loans from the Paycheck Protection Program totaling nearly $164,000 for two restaurants that were no longer in business. Solomon used the funds in ways he knew were prohibited, prosecutors said. He also fraudulently obtained forgiveness for one of the loans in the amount of $87,500 by falsely telling the lender that he used most of the loaned funds for payroll.
He faces up to 30 years in prison and 5 years of post-release supervision when sentenced on April 30, 2024. Solomon has agreed to pay $164,000 in restitution and forfeit that same amount from the proceeds of his crimes.
Solomon is a former campaign aide to Albany Mayor Kathy Sheehan who admitted to stealing tens of thousands from her campaign accounts. Solomon had leased Siro’s Restaurant starting in 2019, but had no involvement as of 2021, The Times Union previously reported. He also co-owned the Pig N’ Whistle restaurant in Broadway, which has closed.
PPP loans were issued by financial institutions in 2020 and 2021 and guaranteed by the U.S. Small Business Administration. This was part of a program implemented in the wake of the COVID-19 pandemic to help businesses with payroll, interest on mortgages, rent and utilities.