Massachusetts Couple Charged in Fraud Schemes Targeting Insurance and Federal Loan Programs

In a significant crackdown on fraud, a Hopkinton couple, Ronaldo Solano, 51, and Adriana Solano, 40, have been indicted by a federal grand jury in Boston for their involvement in complex schemes aimed at defrauding workers’ compensation insurance carriers, the Small Business Administration (SBA), and their mortgage lender. Announced by the acting U.S. Attorney for Massachusetts, Joshua S. Levy, the charges include conspiracy to commit mail and wire fraud as well as conspiracy to commit wire and bank fraud, with Ronaldo facing additional counts of mail and wire fraud.

The couple, operating a roofing and construction company in Framingham under H&R Roofing & Construction Inc. and H&R Roofing & Siding Corp., allegedly manipulated payroll expenses to avoid over $627,000 in workers’ compensation insurance premiums. This deceit spanned eight years, from approximately 2012 to 2020. In a separate but equally fraudulent act between 2021 and 2022, the Solanos sought $2 million in pandemic relief funds through the SBA’s Economic Injury Disaster Loan Program for purported business expenses. After securing these funds, they diverted $1 million into a personal account, using a substantial portion as a down payment on a Hopkinton home without disclosing this to their mortgage lender.

The legal ramifications for the Solanos are severe. Adriana Solano could face up to 50 years in prison alongside hefty fines potentially exceeding $1 million. Ronaldo Solano is subject to the same penalties, with the addition of up to 20 years in prison for the mail and wire fraud charges. This case underscores the U.S. Attorney’s commitment to prosecuting financial fraud aggressively and serves as a cautionary tale for those contemplating similar schemes.