Texas leads SBA pandemic relief loan fraud in national prosecutions

@DisplacedTexan you’re going to have to return the new Chevy and turn yourself in ;>)

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Over my cold dead body!

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I know a guy who has a landscaping company. When this loan came out, he took advantage and got 1 mil (it is a big company) even though they were booked out solid for 90 days. Told him that is a douchebag move. His response is that is 100% plans to use to for the intended purposes of paying his employees. But in reality, he just increased his profits by that amount since he did not have to make payroll from the jobs. Part of me wants him to get found as that is a no-integrity move and says alot about an individual’s personal values and principles.

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There are a lot of qualifications to meet for PPP forgiveness, one being showing less revenue than the previous year(s). He could end up regretting that if he’s used those funds improperly.

Florida second. Local company.https://www.businessobserverfl.com/article/authorities-roofing-firm-exec-bought-dollar700k-boat-with-ppp-funds

Obvious propaganda :man_facepalming:t3:

What a maroon. He didn’t even attempt to camouflage his actions.

I hope that once things stabilize, there will be an aggressive task force to convict people who abused this relief funding. The guidelines were pretty clear. Someone who grabs and misuses money at a time when so many other businesses were struggling, doesn’t deserve to stay in business, imo.

/rant over.

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I completely agree.

I know they consider a small business to be less than 500 employees but they really should have separate brackets. A company making over 30 million a year should have enough cash flow to survive for awhile. They could furlough some employees who could then receive unemployment for awhile. Even if they don’t they need to make sure actual small businesses survive. Maybe around less than 50 employees.

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This is the first I’ve heard of this. I’m not sure it’s accurate.

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Wow that is insane. You build a service business to 32M in revenue and then allegedly do this.

Crazy.

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Greed, pure and simple :frowning:

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Here’s another one. That sad part is that Bellamy signed a 2 year contract worth 5 million dollars with the Jets in 2018. It’s no wonder the SBA fund was depleted so fast.

Maybe the federal prison yard will have artificial turf so he can feel right at home :confused:

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“A lover of silver will never be satisfied with silver, nor a lover of wealth with income. This too is futility”
-Solomon

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:left_speech_bubble: Who looks outside, dreams; who looks inside, awakes. — Carl Jung

@garry.cooper quote

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“If you can dodge a wrench, you can dodge a ball!”

-Patches O’houlihan

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I could see this becoming a “thing”… :rofl:

Feel free to tag me anytime you want a quote from the Bible, Mark Twain, Star Wars, or something falsely attributed to Abe Lincoln

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:rofl::rofl::rofl::rofl::rofl:

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What no Yogi Berra?!