Brothers Guilty Plea in a Blueacorn-Related Fraud
May 2, 2025
Bob Coleman
Founder & Publisher
Fraud Friday — Brothers Guilty Plea in a Blueacorn-Related Fraud
A key individual who took advantage of Blueacorn’s loose PPP loan eligibility screenings has pled guilty to a $109 million loan fraud.
Eric Karnezis submitted 1,300 PPP loan applications for $178 million through Blueacorn’s lender service provider dashboard. These applications included falsified payroll and tax documents. Eric personally received around $3 million in fees paid to him by others who received fraudulent PPP loans.
His twin brother, Anthony Karnezis participated in a related scheme, submitting at least 140 fraudulent PPP loan applications, which led to $4 million in disbursed loans. He pocketed almost $1 million in fees.
Some of the forfeited property from the brothers includes:
– A San Diego residence purchased for $2.6 million with a current Zestimate of $3.5 million
– A Nautique boat
– A watch purchased for $36,000
– A truck camper purchased for $28,000
– A golf cart purchased for $22,000
– A 2021 Bobcat compact Track Loader for $70,000
– Other residences and property in Southern California
The brothers will be sentenced on June 20th.