November 26, 2022
Feds accuse Springfield restaurateur of utilizing PPP mortgage for renovations
Feds accuse Springfield restaurateur of utilizing PPP mortgage for renovations

The proprietor of a number of Springfield eating places has been accused by the federal government of fraudulently utilizing Paycheck Safety Program cash for residence enchancment initiatives.

John Michael Felts − whose eating places embrace Bourbon & Beale, Sizzling Cluckers and Taco Habitat − is accused in a lawsuit filed final week by the federal authorities of utilizing the mortgage cash, obtained underneath greater than a dozen totally different identities and corporations, to buy and enhance different properties. Federal officers haven’t filed legal costs however are asking for forfeiture of 4 properties in Greene County.

Information present that Felts utilized for round a dozen PPP loans utilizing a number of totally different firms, most of which “didn’t have workers and weren’t in operation on the time of software,” in keeping with courtroom paperwork. He additionally utilized for round 13 loans utilizing “synthesized or fabricated identities.” The alleged enhancements achieved with the mortgage cash weren’t eligible or approved underneath the phrases of this system, which was meant to help business-owners in persevering with worker paychecks in the course of the COVID-19 pandemic.