Tech company CEO in Bay Area sentenced to 2 years for conspiracy, tax violation charges

A CEO of four technology and IT companies in the Bay Area was sentenced to two years in prison for conspiracy to commit bank fraud and failure to pay over $2 million in employment taxes, federal prosecutors said Aug. 25.

Kishore Kethineni of Dublin pleaded guilty to these charges in February, admitting he conspired with his two brothers to engage in a scheme in which they fraudulently obtained over $3.1 million in loans under the Paycheck Protection Program (PPP), the U.S. Attorney’s Office for the Northern District of California said in a statement.