The goal of COVID-19 relief money in the United States is to well, give relief. Citizens received help two time this year, in the hopes of providing stimulation to the economy as well as providing much-needed funds to Americans. Business owners could also apply for relief funds, to help pay employees and stay afloat during the pandemic. Unfortunately, the funds were not handed out in the best way possible and some people took advantage. News broke this week of a Nevada man using $2 million in funds to stay in condos in Las Vegas as well as purchase luxury cars.
Jorge Abramovs is facing a charge of bank fraud after applying for the Paycheck Protection Program via seven banks last year. He was given small loans, which were supposed to go to small businesses who needed money to survive.
The criminal complaint against Abramovs was unsealed this week and stated that he lied on the application, saying he had a larger employee workforce and larger payroll. He was able to receive eleven loans which totaled just over $1.98 million. Most of the money was not used on a business, but in luxury items.
Along with purchasing luxury cars and condos in Las Vegas, Nevada Abramovs was also seen out on the Strip. He was seen gambling at Caesars Palace and not at the low limit tables. There are actual pictures that show Abramovs winning over $32,000 on a slot machine at Caesars.
He now faces severe charges for his actions. And this is not the first time that someone took advantage of the loan program during the pandemic. Others have been accused of doing the same, taking money and then spending in at casinos.
It seems the government was not as thorough with its reviews of business owners who took part in the loan program and now it has been a mess trying to prosecute and get the money back.
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