Manhasset Hills man sentenced for fraud

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Thomas Felcon’s controlled companies, The Nebula Group and GPT Property Consultants Inc., each pleaded guilty to a first-degree scheme to defraud, resulting in the forfeiture of around $650,000 seized from their accounts.

These funds are earmarked for restitution to the SBA, covering a total of $409,000 siphoned from the Paycheck Protection Program and ad- ditional funds acquired deceptively from the Economic Injury Disaster Loan program.

William Felcon’s companies, A L One Inc. and A L One Consulting Inc., both operating in New Hyde Park, pleaded guilty to a scheme to defraud as well.

In total, the companies gained more than $600,000 in PPP loans from several private lenders and got loan advances and more than

$1 million in EIDL loans for which they were not eligible.

In their pleas, both Felcons admitted to making false statements in loan applications to unlawfully acquire PPP funds from both the SBA and SBA-authorized lending institutions.

They submitted deceptive information in multiple loan applications, including incorrect details about the companies’ workforce size, payroll figures, and the designated purpose of the loan funds for the PPP and EIDL initiatives. Although the loan initiatives were specifically made to aid businesses in maintaining their workforce during the urgent period of the coronavirus pandemic, it was revealed that none of the implicated companies possessed any actual employees or related payroll expenses throughout the duration of the illicit scheme.