Entrepreneur: PPP2: We Decided To Go To Prison for SBA Loan Fraud
Entrepreneur: brand brand New Round of PPP Loans: I went along to Prison for SBA Loan Fraud – 7 what to Know When Taking Covid-19 Relief Money, by Jeff give, J.D., M.Div.
When you look at the months after 9/11, I became frantic.
But my fears had less related to the tragedy during the expressed word Trade Center and more regarding the fact, after ten years of rampant prescription opioid abuse, my company ended up being failing. I became https://www.spot-loan.net/payday-loans-tx looking desperately for the away. Meanwhile, the radio and television had been blaring with advertisements for 9/11 FEMA loans administered by the U.S. small company management.
Therefore, on a day that is especially bad we lied.
We stated I experienced workplace near ground zero. We received the SBA loan We asked for, and immediately reduced the individual bank cards We had run up while waiting around for the SBA cash. Nevertheless, the mortgage did little to end my spiral into medication addiction, psychological state problems, marital dilemmas and thinking that is magical.
In 2002, We resigned my legislation permit and began regarding the road to recovery. However it all swept up beside me about 20 months later on, once I ended up being arrested when it comes to misrepresentations on my application for the loan. We served very nearly 14 months at a Federal jail for cable fraudulence and cash laundering.
My objective on paper this piece is always to provide some understanding on which business people must look into before they sign up for catastrophe loans.