Kennebunk Woman Pleads Guilty to Fraudulently Obtaining PPP Funds During Pandemic
Summary
Meghan Martell, 33, of Kennebunk, Maine, pleaded guilty to wire fraud in U.S. District Court in Portland, according to this release. Citing court records, it says that in April 2021 Martell applied to a California lender for a Paycheck Protection Program loan, falsely claiming to be the sole proprietor of a beauty salon with gross income in 2019 of $99,870, and submitted fraudulent documentation including a false tax form. The lender transferred $20,806 in PPP funds to Martell's bank account in Maine. Martell faces up to 20 years in prison and a maximum fine of $250,000, followed by up to three years of supervised release; a federal district judge will determine any sentence. IRS Criminal Investigation investigated the case.
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Full text
PORTLAND, Maine: A Kennebunk woman pleaded guilty in U.S. District Court in Portland today to wire fraud. According to court records, in April 2021, Meghan Martell , 33, submitted an application to a California lender for a loan from the Paycheck Protection Program (PPP). Martell falsely stated on the application that she was the sole proprietor of a beauty salon with gross income in 2019 of $99,870. She also submitted fraudulent documentation in support of the application, including a false tax form. The California lender transferred $20,806 in PPP funds to Martell’s bank account in Maine. Martell faces up to 20 years imprisonment and a maximum fine of $250,000, followed by up to three years of supervised release. A federal district judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors. IRS Criminal Investigation investigated the case. Paycheck Protection Program (PPP): The PPP was a COVID-19 pandemic relief program administered by the Small Business Administration (SBA) that provided forgivable loans to small businesses for job retention and certain other expenses. The PPP permitted participating third-party lenders to approve and disburse SBA-backed PPP loans to cover payroll, fixed debts, utilities, rent/mortgage, accounts payable and other bills incurred by qualifying businesses during, and resulting from, the COVID-19 pandemic. PPP loans were fully guaranteed by the SBA. ###
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