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GoLocalProv | Guilty Plea Filed in Bank Fraud Scheme Exploiting Homeless RIers

GoLocalProv | Guilty Plea Filed in Bank Fraud Scheme Exploiting Homeless RIers
golocalprov.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from golocalprov.com Daily Mail and Mail on Sunday newspapers.

Guilty plea in first-in-the-nation CARES Act fraud case | Internal Revenue Service

PROVIDENCE A Massachusetts man who faked suicide shortly after he and a co-defendant became the first in the nation to be charged with fraudulently seeking hundreds of thousands of dollars in forgivable pandemic relief small business loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, pleaded guilty today to conspiring to commit bank fraud and failure to appear in court. The CARES Act Paycheck Protection Program (PPP) allowed qualifying small businesses to receive forgivable or low interest loans to meet payroll costs and mortgage, rent, and utility payments. David Adler Staveley, aka Kurt David Sanborn, aka David Sanborn of Andover, Massachusetts, admitted he conspired with David Andrew Butziger of Warwick, RI, to file four fraudulent PPP loan applications with a Rhode Island bank, falsely claiming they owned businesses with large monthly payrolls when, in fact, they did not own the businesses. Stavele

David Staveley, Massachusetts man who faked his own death, pleads guilty after being first in the US to be charged with fraud for Paycheck Protection Program

A 53-year-old Massachusetts man who faked his own death has pleaded guilty after attempting to steal more than $500,000 in Paycheck Protection Program loans. David Staveley of Andover was the first in the U.S. to be charged for fraud relating to the the CARES Act, which allowed small businesses to receive forgivable or low interest loans to meet payroll costs and mortgage, rent, and utility .

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