SOUTHFIELD, Mich. – A federal jury has convicted a Southfield doctor of bank fraud.
According to authorities, Dr. Reginald Eburuche secured a $1.7 million Paycheck Protection Program loan under false pretenses in July 2020 after failing to obtain a new line of credit for a new business venture. He reportedly inflated employee numbers and payroll figures for his start-up, Renovis Healthcare, and submitted fraudulent tax documents to support his application, which was allegedly used as seed funding.
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A large portion of the funds were frozen and seized before his trial.