LI Doctor sentenced to prison for pandemic funds fraud

LI Doctor sentenced to prison for pandemic funds fraud

CENTRAL ISLIP, N.Y. (AP) — A Long Island doctor has been sentenced to four years and three months in prison for fraudulently getting $3.7 million in pandemic relief loans. Authorities say between March and July 2020, Dr. Konstantinos Zarkadas used false information in applying for at least 11 loans from the federal government. They say he used the funds for things including leases on luxury cars, expensive watches, and the down payment on a $1.75 million yacht. He pleaded guilty in November and agreed to forfeit four watches and $200,000. The court ordered him to pay $3.5 million in restitution. An email seeking comment was sent to Zarkadas’ attorney.

Photo: A gavel sits on the speakers’ desk, Monday, March 16, 2020, at the Statehouse in Des Moines, Iowa. (AP Photo/Charlie Neibergall)