A new report in the New York Post has some, er, interesting gems out this morning. According to that report, the U.S treasury is weighing criminal charges against wealthy homeowners who knowingly lied and misused the SBA loan system to gain thousands-of-dollars worth of Coronavirus relief monies.
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Those homeowners, primarily in places like New York City and the Hamptons, apparently used those loans and what not to funnel into their homes as they ‘ have staffs” and therefore had previously registered their massive homes as small businesses or LLCs (usually for tax purposes.)
A rule published by the SBA states that household businesses are in fact not businesses and may not apply for relief funds.
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