O'Fallon, Illinois, man admits to PPP loan fraud for $487K l

O'Fallon, Illinois, man admits to PPP loan fraud for $487K loan


Updated: 9:12 PM CDT April 28, 2021
O'FALLON, Ill. — The owner of an O'Fallon, Illinois, plumbing company admitted to lying on his Paycheck Protection Program application to illegally obtain nearly $500,000 in federal loans.
Jason Spengler, 45, pleaded guilty in federal court Wednesday to one count of making a false statement on a federal loan application.
According to court documents, Spengler applied for a PPP loan for his business, Spengler Plumbing, in 2020. When filling out his application, he said he was not involved in any bankruptcy even though his business was in bankruptcy.
As a business in bankruptcy, Spengler Plumbing was also required by law to obtain prior authorization from bankruptcy court before incurring any new unsecured debt, but Spengler did not.

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