Ant Book

Main Menu

  • Home
  • Eu Fragmentation
  • Home Asset Bias
  • Money Market Accounts
  • Private Equity Funds
  • Finance

Ant Book

Header Banner

Ant Book

  • Home
  • Eu Fragmentation
  • Home Asset Bias
  • Money Market Accounts
  • Private Equity Funds
  • Finance
Finance
Home›Finance›Virginia Beach man pleads guilty of bank fraud

Virginia Beach man pleads guilty of bank fraud

By Joanne Monty
March 19, 2021
0
0

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.

Related posts:

  1. What You Need to Know About Great Lakes Student Loan
  2. Two Texas Deliberate Parenthoods Fail to Repay As much as $ 4 Million in P3s
  3. Highlight on College students: Meg Anderson | Agricultural and useful resource economics
  4. Roberts is vital vote as U.S. Supreme Courtroom blocks Louisiana abortion clinic regulation
Tagscovid pandemic

Categories

  • Eu Fragmentation
  • Finance
  • Home Asset Bias
  • Money Market Accounts
  • Private Equity Funds

Recent Posts

  • rupee dollar: why the rupee is likely to fall further even as exports lose competitiveness
  • Doctors warned of pitfalls behind private equity pledges
  • Vincent Liu sells 3,000 shares of RBB Bancorp (NASDAQ: RBB)
  • Eurozone inflation rise ‘not likely to peak’ before 9.6% in September, analysts say
  • real estate investment: Are you looking to invest in SCPIs? Here are 3 factors to consider before investing
  • Terms and Conditions
  • Privacy Policy