Two New England businessmen were arrested Tuesday on charges of fraudulently seeking federal loans intended for small businesses that have been struggling during the coronavirus pandemic, according to prosecutors.
, are the first individuals in the U.S. to be charged with defrauding the Paycheck Protection Program .
According to a federal criminal complaint, Staveley and Butziger sought more than half a million forgivable loans by claiming to have dozens of employees earning wages at four different businesses when they, in fact, had none. Banks are reporting a little more success in getting small business owners’ applications for coronavirus relief loans into government processing systems.
Butziger allegedly claimed that he had seven employees on his payroll who he had supposedly hired full-time on Jan. 1, 2020, and laid them off at the end of March. He claimed he would use SBA PPP funds to pay his employees.“Tens of millions of Americans have lost their jobs and have had their lives thrown into chaos because of the coronavirus pandemic.
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