loans
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A Houston man has been sentenced to 9 years and 2 months in prison for fraudulently obtaining over $1.6 million in coronavirus Paycheck Protection Program loans, CBS News reports. Lee Price III, 30, pleaded guilty to wire fraud and money laundering in September, after he sent in loan applications to two different lenders for $2.6 million. After receiving $1.6 million, he bought a Lamborghini […]
The former owner of a pizza parlor in Massachusetts has been accused of lying about the number of employees he had in an effort to fraudulently acquire what turned out to be $660,000+ in federal relief funds for COVID-19 through a Small Business Administration-approved lender, according to an announcement from prosecutors on Tuesday. He is then alleged […]
Former New York Jets wide receiver Josh Bellamy was arrested Thursday morning for his alleged involvement in a $24 million scheme where he llegally received coronavirus relief loans, ESPN reports. The U.S. Justice Department names 10 defendants, aside from Bellamy, in the case, none of which played in the NFL. Bellamy received a loan of more than $1.2 million from the Paycheck Protection Program for his […]
The Los Angeles Lakers are giving back the roughly $4.6 million they got from the federal government, which was money that was granted to the organization as part of a program aimed at keeping small businesses going throughout the COVID-19 pandemic. If that sentence made you say “wait, what?” then you’ve correctly identified the reason […]
The New York Times reports the Trump Organization is looking to delay or postpone some of its loan payments and other financial obligations as the company continues to deal with an economic downturn due to the coronavirus pandemic. Representatives for the Trump Organization have reportedly reached out to Deutsche Bank to explore whether some of the company’s outstanding loans can […]
Birdman is suing EMG Transfer Agent for giving him a $12 million loan for his Miami mansion, and structuring the deal in a way that made it difficult for him to make his payments. It’s the same 9-bedroom, 17-bath home with 25-foot ceilings, a below ground pool, an outdoor pool, a movie theater, gym, spa, an […]
