Queens Man Stole $1.1M In COVID Funds With Sham Business: Feds

QUEENS, NY — A Queens man stole more than $1.1 million in COVID-19 emergency funds to spend on jewelry and other personal expenses, authorities said.

Terry Dor, 36, appeared in federal court Thursday for arraignment on a wire fraud and money laundering indictment.

The indictment came after IRS investigators found he applied for pandemic-related federal business loans for a sham company — Terry Dor Professional Consultants — that had no revenue or expenses, authorities said.

"As alleged, the defendant submitted applications filled with fabricated information in order to steal more than $1 million dollars in government funds intended to help hard-hit small businesses and their employees survive the economic fallout of the COVID-19 pandemic," said U.S. Attorney Breon Peace, in a statement.

"The defendant then laundered and used the stolen funds to buy jewelry and for personal securities trading."

The indictment states Dor spent $125,000 at a "premium jewelry vendor" in New York City.

Dor, who lives in Jamaica, was arrested Thursday and released on a $50,000 bond after his arraignment, authorities said.