Inner City Press

In Other Media-eg New Statesman, AJE, FP, Georgia, NYTAzerbaijan, CSM Click here to contact us     .

These reports are usually available through Google News and on Lexis-Nexis

Share |   

Follow on TWITTER

Home -

These reports are usually available through Google News and on Lexis-Nexis


(FP Twitterati 100, 2013)

ICP on YouTube

More: InnerCityPro
Sept 24, 2013

UN: Sri Lanka


FOIA Finds  

Google, Asked at UN About Censorship, Moved to Censor the Questioner, Sources Say, Blaming UN - Update - Editorial

Support this work by buying this book

Click on cover for secure site orders

also includes "Toxic Credit in the Global Inner City"




Bank Beat

Freedom of Information

How to Contact Us

Taiwan National Sheng Pled Guilty to PPP Fraud For 78 to 97 Month Deal, Gets 72

By Matthew Russell Lee, Patreon
BBC - Guardian UK - Honduras - ESPN

SDNY COURTHOUSE, August 11 –   Back on August 18, 2020 Inner City Press reported the arrest of Sheng-Wen Cheng, a Taiwanese national, for defrauding Paycheck Protection Program (“PPP”) and the Economic Injury Disaster Loan (“EIDL”) Program. 

 Cheng obtained "orders to continue in the interest of justice" on September 1, October 1, November 2, December 2, January 4, February 3, April 5 - and then scheduled a change of plea proceeding, at the same time as the belated arraignment.    On April 20, 2021, U.S. District Court for the Southern District of New York  Judge Alison J. Nathan held an arraignment and change of plea proceeding. Inner City Press covered it. 

 The was  stipulated guideline sentence  78 to 97 months in prison.   

Now on August 11, SHENG-WEN CHENG, a/k/a “Justin Cheng,” a/k/a “Justin Jung,” was sentenced to 72 months in prison for multiple fraud schemes he perpetrated.  In particular, CHENG engaged in a scheme to fraudulently obtain over $7 million in Government-guaranteed loans designed to provide relief to small businesses during the COVID-19 pandemic.  CHENG also solicited and obtained investments in Alchemy Coin Technology Limited and related companies controlled by CHENG through materially false and misleading statements and omissions.  Finally, CHENG fraudulently obtained due diligence fees from dozens of start-up companies as part of an advance fee scheme.  CHENG was sentenced earlier today before U.S. District Judge Alison J. Nathan.

This case is US v. Sheng-Wen Cheng, 20-mj-08698 (Nathan)


Your support means a lot. As little as $5 a month helps keep us going and grants you access to exclusive bonus material on our Patreon page. Click here to become a patron.

Feedback: Editorial [at]
SDNY Press Room 480, front cubicle
500 Pearl Street, NY NY 10007 USA

Mail: Box 20047, Dag Hammarskjold Station NY NY 10017

Reporter's mobile (and weekends): 718-716-3540

Other, earlier Inner City Press are listed here, and some are available in the ProQuest service, and now on Lexis-Nexis.

 Copyright 2006-2021 Inner City Press, Inc. To request reprint or other permission, e-contact Editorial [at]