Also Read | India speeds up vaccination driveAs part of his guilty plea, Rai admitted that he sought millions of dollars in forgivable loans guaranteed by the SBA from two different banks by claiming to have 250 employees earning wages when, in fact, no employees worked for his purported business.Rai made two fraudulent claims to two different lenders to seek loans guaranteed by the SBA for COVID-19 relief through the Paycheck Protection Program (PPP).In the application submitted to the first lender, Rai sought $10 million in PPP loan proceeds by fraudulently claiming to have 250 employees with an average monthly payroll of $4 million.In the second application, Rai sought approximately $3 million in PPP loan proceeds by fraudulently.