PPP Loan Misuse

A Kentucky man has been sentenced to two years and nine months in prison for using false pretenses to accept $370,000 in paycheck protection loans under a federal COVID-19 assistance program.David Christopher Lewis, 49, was sentenced in federal court last week for his guilty plea to wire fraud. He also was ordered to pay full restitution.In his plea agreement, Lewis admitted he submitted fraudulent applications in May 2020 for loans.Evidence submitted at his sentencing hearing showed that Lewis paid himself or his wife more than $100,000 of the loan money.

Source: MG News

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