COVID-19 Relief Law - PPP Loan Fraud Celebrity Indictments
In our prior post, we reviewed the first publicly announced indictments for PPP loan fraud. Read more here: https://www.fazziolaw.com/blog/covid-19-relief-law-first-ppp-loan-fraud-indictments.cfm
While the two parties in the original story did not receive the funding, a famous TV personality from the show "Love & Hip Hop" is alleged to not only have received over $2,000,000 set aside for struggling small businesses, but also spent the money on Rolex and other luxury goods according to the Authorities. The celebrity was charged with bank fraud (in violation of 18 USC § 1344) to which he plead not guilty and is awaiting trial
As the SBA and the Trump Administration have pledged to, at the minimum, review any PPP loans in excess of two million dollars indictments will continue to come down.
Read more about the incident here: https://pagesix.com/2020/05/13/love-hip-hop-star-blew-ppp-loan-on-rolex-child-support-feds-say/?utm_source=NYPTwitter&utm_medium=SocialFlow&utm_campaign=SocialFlow
Category: COVID-19 Relief Law
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