BUSINESS
Texas man charged with allegedly seeking more than $5 million in SBA coronavirus loans by submitting 400 fake employee names
BUSINESS

Texas man charged with allegedly seeking more than $5 million in SBA coronavirus loans by submitting 400 fake employee names

Published: May 19, 2020  |  3 min read, 511 words
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Keep Me Logged InKey PointsWASHINGTON — A Texas man has been charged with fraud for allegedly seeking more than $5 million in forgivable loans backed by the Small Business Administration under the CARES Act, by claiming to have a business with more than 400 employees.Samuel Yates, 32, of Maud, Texas, allegedly made two fraudulent applications to two different lenders for emergency Covid-19 relief loans through the Paycheck Protection Program (PPP), .In the application submitted to the first lender, Yates allegedly sought $5 million in PPP loans by fraudulently claiming to have 400... READ MORE
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