If the government catches you taking out an unnecessary PPP loan, you’re going to have to pay the price.
The government is cracking down on more cases. As reported on Hot New Hip Hop, 19 entertainers and CEOs are reportedly named in a new indictment in Georgia.
According to the report, the ringleader in the case is a man named Mark C. Mason Jr. He’s accused of submitting fraudulent loan applications and helping others do the same. Mason allegedly took a “success fee” that could be anywhere from two to five percent of the total received if any individual accepted.
The Atlanta Journal-Constitution points out,
“Among those indicted were: Ion Overman, an actress who appeared in the early-2000s TV series “Port Charles,” as well as “Desperate Housewives” and Tyler Perry’s “Madea Goes to Jail”; Carlos “Clos” Stephens, a music producer and consultant who has worked with Master P and Little Romeo; Dale Godboldo, an actor who appeared in “The People v. O.J. Simpson,” “Thor” and awards-season darling “The Year of the Dog”; and Marvin Lewton, a media personality covering hip-hop known as OG Shadi Powers.”
The people involved in the indictment haven’t spoken out publicly as of yet.
19 people (actors & entertainers) in Georgia have been indicted on charges that they defrauded the PPP for a total of more than $3 million. Two of the 19 people included actor Ion Overman and producer Carlos Stephens. pic.twitter.com/5ctlRZhnXv
— Everything Georgia (@GAFollowers) January 14, 2022
In December of last year, the founding member of the popular R&B group, Pretty Ricky, was sentenced to 20-months behind bars for conspiracy to commit wire fraud. In addition, he was ordered to pay over $2 million in forfeiture and restitution.
Last year, he was arrested over charges stemming from a COVID-19 scam. In May 2021, he pled guilty and admitted to using falsified documents and false information to obtain a PPP loan of $426,717. He also received another check for $708,065 by using falsified documents and inaccurate information. He claimed the loans would be used for Throwbackjersey.com LLC and Blue Star Records LLC, but he admitted he used it to fund a lavish lifestyle.