JustTheNews: The man used the funds for a big ticket shopping spree, and also embezzled money from the Archdiocese of Washington, prosecutors say.
A Washington, D.C. man is facing charges alleging that he fraudulently applied for and obtained $2.1 million in coronavirus relief funds issued through the Small Business Administration, which he used to purchase a row house, a sports car, and a yacht.
Kenneth Gaughan, 41, was charged by the U.S. Attorney’s Office with forging paperwork and bank records on behalf of falsified companies in order to receive federal loans from the Paycheck Protection Program and through the government’s Economic Injury Disaster Loans program.
“We will not tolerate exploitation of this national emergency for personal gain,” said Acting U.S. Attorney Michael Sherwin. “This Office will not allow fraudsters to steal taxpayer money intended to help small businesses that are currently struggling as a result of the COVID-19 pandemic.” more here