A U.S. telecom company and its CEO have admitted to defrauding a federal program meant to provide low-cost phone services for people in need.
Issa Asad, the 51-year-old CEO of Q Link Wireless LLC from Dania Beach, Florida, pleaded guilty on October 15 to charges of wire fraud and money laundering.
The company and Asad admitted to stealing over $100 million from a federal program that helps low-income individuals get discounted phone and internet services.
The U.S. Department of Justice (DOJ) and the Federal Communications Commission (FCC) announced that both Asad and Q Link Wireless conspired to commit wire fraud and misused government funds.
In addition to this, Asad admitted to laundering money in a separate scheme involving the Paycheck Protection Program (PPP), which was established to assist individuals and businesses affected by the COVID-19 pandemic.
Sentencing for Asad is set for January 15, 2025. He could face up to 15 years in prison, with the DOJ stating that he faces 5 years for the conspiracy charge and up to 10 years for money laundering.
As part of their plea deal, Asad and Q Link Wireless agreed to pay back $109,637,057 to the FCC.
Additionally, Asad agreed to pay $1,758,339.25 in restitution to the U.S. Small Business Administration and will face a forfeiture judgment of at least $17,484,118.
Q Link Wireless was a participant in the government’s Lifeline Assistance and Affordable Connectivity programs, which have provided discounted or free phone and internet services to eligible low-income consumers since 1985.
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These programs aim to bridge the digital divide by making communication services accessible to those who need them most.
However, in this case, funds meant to support these efforts were instead stolen and misused.
The FCC and DOJ emphasize their ongoing efforts to hold accountable those who attempt to take advantage of government assistance programs designed to help vulnerable communities.
Eliot Pierce is a dedicated writer for ChiefsFocus.com, covering local crime and finance news. With a keen eye for detail and a passion for storytelling, Eliot aims to provide his readers with clear and insightful analysis, helping them navigate the complexities of their financial lives while staying informed about important local events. His commitment to delivering accurate and engaging content makes him a valuable resource for the community.
