12-05-2025
Woodbridge man pleads guilty to COVID fraud scheme
BRIDGEPORT, Conn. (WTNH) — A Woodbridge man last week pleaded guilty to offenses connected to a scheme to defraud a COVID-19 pandemic relief program of more than $2.3 million, according to the office of Acting United States Attorney for the District of Connecticut Marc Silverman.
Yasir Hamed, 60, waived his right to be indicted on May 9 in front of a judge in Bridgeport. He pleaded guilty to bank fraud and engaging in illegal monetary transactions.
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He faces up to 30 years in prison for the first charge and 10 years for the second. Sentencing is scheduled for Aug. 8.
Information from court shows as an accountant, Hamed had an ownership interest or representative relationship with several New Haven-based businesses.
From June 2020 to September 2021, he's accused of submitting false PPP loan applications on behalf of the companies, overstating employee numbers and average monthly payroll, and making other fraudulent representations.
Throughout the scheme, Silverman's office says Hamed gained $2.3 million in PPP loans for his businesses and his clients. He used some of the funds for personal expenses, including education expenses for a family member and a down payment on a $880,000 house in Woodbridge he bought in 2020.
According to Silverman's office, Hamed agreed to pay $2,384,772 in restitution.
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