November 28, 2022

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Feds accuse Springfield restaurateur of utilizing PPP mortgage for renovations

Feds accuse Springfield restaurateur of utilizing PPP mortgage for renovations
Feds accuse Springfield restaurateur of utilizing PPP mortgage for renovations

The proprietor of many Springfield eating institutions has been accused by the federal government of fraudulently using Paycheck Protection Plan income for residence development jobs.

John Michael Felts − whose eating places incorporate Bourbon & Beale, Scorching Cluckers and Taco Habitat − is accused in a lawsuit filed final 7 days by the federal govt of utilizing the mortgage cash, acquired under rather more than a dozen numerous identities and companies, to accumulate and enhance different attributes. Federal officers haven’t filed jail charges however are asking for forfeiture of 4 homes in Greene County.

Data display that Felts utilized for round a dozen PPP monetary loans using a number of distinctive corporations, most of which “didn’t have staff and have been not in operation on the time of software,” based on courtroom paperwork. He additionally used for throughout 13 monetary loans using “synthesized or fabricated identities.” The alleged enhancements carried out with the mortgage money weren’t appropriate or licensed lower than the phrases of the tactic, which was meant to help enterprise enterprise-entrepreneurs in persevering with worker paychecks all by means of the COVID-19 pandemic.