Former Citadel analyst Gregory Blotnick has been sentenced to over four years in prison by a federal judge in Newark, New Jersey, after claiming $4.6 million fraudulent Covid relief loans for his start-up hedge fund Brattle Street Capital LLC, according to a report by BNN Bloomberg.

In addition, 35-year-old Bltnock has been ordered to pay $4.6 million restitution after most of the funds were lost on the markets.

Blotnick, who worked at Citadel for less than a year, pleaded guilty in October to submitting 21 fraudulent loan applications to 13 lenders under the US Paycheck Protection Program of the March 2020 covid stimulus bill.