Joleen Simpson, special agent in charge of the IRS criminal investigations office in Boston, said the case should serve as a "stark reminder" that criminals will be held accountable. The bogus PPP applications included misrepresented the number of employees, size of payroll, and intended use of the proceeds, prosecutors said.
MAINE PUBLIC UTILITY PROJECT SUPPORTER AIMS TO STOP VOTE ON DEBT
A Maine man pleaded guilty to submitting fraud loan applications. The man received over a million dollars form the fraudulent loans.
"While many legitimate businesses used PPP loans to keep their businesses afloat, Mark Haley, motivated by personal greed, set his sails on a scheme to obtain lavish luxuries," she said.
Paycheck Protection Program loans were designed to be forgivable loans for small businesses to help with job retention and other expenses during the COVID-19 pandemic.