(FOX 9): After nearly two years of investigation, federal investigators have charged a businesswoman from Minneapolis with orchestrating a fraud operation that was responsible for losses totaling several million dollars.
Khemwattie (Kim) Singh, who was 52 years old at the time, was the chief executive officer of the Minnesota-based company Global Medical Services.
There were images of Singh advertising her medical tourism firm, which connected wealthy foreign dignitaries with physicians and hospitals in Minnesota, on the website of the company.
In contrast, the company had already begun to experience financial difficulties by the summer of 2019. It had been months since workers in Minneapolis had been paid, and it was suspected that Singh was also responsible for investors engaging in fraudulent activity.
In North Dakota, the company’s new Chief Financial Officer (CFO), who had been appointed to get things back on track, had just been found guilty of theft.
According to investigators working for FOX 9, Singh made a request for and was granted a total of $383,408 in May of 2020 through the now-defunct Paycheck Protection Program (PPP).
According to the indictment, Singh took more than $2.6 million in accounts receivable from a Florida firm called MD Capital Solutions. This company had recently acquired Global Medical Services and another business that is tied to it called Minnesota International Medicine.
Even though Singh claimed that she had never received any money, federal prosecutors claim that she wired more than $5 million to bank accounts in Morocco and shell companies that she managed. These accounts were in Morocco.
A company that was having problems making money as a result of the global pandemic was able to get back on its feet as a result of the pandemic.
On Singh’s application for the PPP, it is alleged that she lied about the amount of money she paid her 40 employees each month, stating that the average was $153,363. The United States Government has the opinion that this is a lie.
According to the investigations by FOX 9, the majority of these individuals were laid off in November of this year.
Singh received a total of $296,800 through the scheme, of which she put away $116,000.
The federal government has filed seven separate charges against Singh for committing wire fraud.
