7 men arrested for using Covid relief loans to buy Porsche and Lamborghini
In total, the seven men filed as many as 80 fraudulent PPP loan applications and stole $ 16 million, using part of the funds to buy a Lamborghini and a Porsche – cars that have since been seized by prosecutors. federal. The report does not say which models were purchased with the funds, but $ 16 million gives you a huge amount of Porsche 911s.
The investigation into the alleged conduct of the men is ongoing and there is much to unravel. KPRC reports that those involved are accused of falsifying their company’s employee count and monthly payroll expenses, issuing fake paychecks which were then cashed at one of the defendant’s businesses.