VIRGINIA BEACH, Virginia – A businessman pleaded guilty to Paycheck Protection Program (PPP) fraud after using loan proceeds for his personal gain.

According to a press release, court documents confirm that Scott Suber, 39, filed a fraudulent PPP loan application with Celtic Bank. The credit program was launched by Congress to relieve companies affected by the COVID-19 pandemic.

Suber was approved for a $ 350,000 loan and was to use the loan for business expenses such as wages, leases, and utilities. Instead, he used the money to make large cash withdrawals and travel to Las Vegas, according to court documents.

Officials said Suber filed a motion that incorrectly portrayed his business, Debris or Not Debris Property Preservation, Inc. According to the press release, Suber falsely claimed he had eight employees and an average monthly payroll of $ 140,000.

In addition, officials said he forged a Form 941, claiming the company had $ 420,000 quarterly wages and a federal tax withholding of $ 36,620. According to the announcement, Suber also supported his application with an account statement with a changed date.

Suber is due to be sentenced to a maximum of 30 years in prison on May 4, 2021.