To soften the negative effects, the global pandemic has had on the U.S. economy, the government set up a COVID small business relief fund. However, plenty of folks have decided to abuse the various relief systems. In August, we heard of a Florida man arrested for buying Lamborghini Huracan using government paycheck protection funds. However, a new story by Motorious covers two new men who used the business relief fund to purchase new vehicles.
The first COVID relief fun fraudster purchased a Ford F-350
This COVID relief fund fraud story begins with a man out of Lake Oswego, Oregon. According to Motorious, this fraudster reportedly applied for six small business and paycheck protection loans. As a result, Motorious report that the government approved two of the loans, giving the man approximately $295,000.
In response, the Oregon native decided to hit up his local Ford dealership and buy a brand-new F-350. Since money was obviously not a concern, Motorious reports that he opted for a higher trim level worth around $77,898. There is no mention of what he did with the rest of the COVID relief fund money.
However, as you’d expect, this Oregon is already well known by his local police department. Motorious reports that police previously pulled the man over for driving with a suspended license in his Tesla. After federal agents picked him up, he was reportedly charged with money laundering, wire fraud, and aggravated identity theft. It goes without saying that both his Tesla and Ford truck were immediately seized.
The second fraudster bought a 2016 Dodge Challenger
Our second COVID relief fund fraudster was more of a frugal car buyer. This second man is also from Oregon, although he does not reportedly have any ties to the other fraudster. Motorious reports that back in August, this second fraudster received a small business loan for $145,200. Unfortunately for taxpayers, the business listed for the loan reportedly does not exist.
However, this second COVID relief fund fraudster didn’t feel like losing out to depreciation by buying brand-new. Instead, he opted to purchase a used 2016 Dodge Challenger. Unfortunately, there is no mention of which trim level he went for. Thankfully, Motorious reports that his bank quickly noticed the irresponsible expenditure of the COVID relief fund money.
As the authorities arrested the man, they found around $30,000 in cash on his person. As an explanation, the man claimed the money came from a recently deceased family member. In total, Motorious reports that policed recovered around $50,000 of the original sum. As you’d expect, he’s facing charges for theft of government property.
Other fraudsters purchased Lamborghinis and Porsches
While the two men caught in the aforementioned COVID relief fund fraud purchased expensive vehicles, others have gone above and beyond. A few weeks ago, we covered seven individuals who reportedly stole millions from COVID relief funds. In this other case, the fraudsters purchased several Lamborghini and Porsche models. As you’d expect, the authorities quickly noticed and arrested the involved individuals.