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Date: Sept. 8, 2026
Contact: newsroom@ci.irs.gov
BOISE – U.S. Attorney for the District of Idaho Bart M. Davis announced today that Xanare Bomani of New Jersey pleaded guilty to conspiracy to commit bank fraud for participating in a scheme to defraud financial institutions and the Small Business Administration (SBA) through fraudulent Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) applications.
On April 7, the Department of Justice announced the creation of the National Fraud Enforcement Division (Fraud Division). The Fraud Division is laser-focused on investigating and prosecuting those who commit fraud against the American people. The Department’s work to combat fraud supports President Trump’s Task Force to Eliminate Fraud, a whole-of-government effort chaired by Vice President J.D. Vance to eliminate fraud, waste, and abuse within Federal benefit programs.
According to court records, between July 2020 and April 2021, Bomani worked with co-conspirators to falsify financial information and submit false applications to financial institutions in Boise and elsewhere to fraudulently obtain more than $1 million in COVID relief funds.
Bomani faces a maximum penalty of 30 years in federal prison, a fine of up to $1 million, and up to five years of supervised release, along with restitution as determined by the court. Sentencing is scheduled for Dec. 15, 2026, before Senior U.S. District Judge B. Lynn Winmill.
This case was investigated by the Buffalo field offices of the IRS-CI and FBI.
Assistant U.S. Attorney Brittney Campbell of the U.S. Attorney’s Office for the District of Idaho is prosecuting the case.
IRS-CI is the law enforcement arm of the IRS, responsible for conducting financial crime investigations, including tax fraud, narcotics trafficking, money laundering, public corruption, healthcare fraud, identity theft and more. It is the only federal law enforcement agency with investigative jurisdiction over violations of the Internal Revenue Code. IRS-CI has 16 field offices located across the U.S. and maintains an international presence through attaché posts abroad.