Brewer man charged with using PPP loan for a barber light pole, church donation
Nathan Reardon was charged in relation to four separate applications for federal Paycheck Protection Program loans totaling nearly $240,000.
By STAFF REPORT
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A Brewer man has been charged with criminal fraud in a case involving four alleged attempts to personally cash in on the federal Paycheck Protection Program, which provides forgivable loans to struggling small businesses.
According to a criminal complaint filed Thursday in U.S. District Court in Bangor, Nathan Reardon submitted false information to apply for four such loans, each totaling about $59,000, between April 3 and May 5, 2020. Reardon subsequently applied to have those loans forgiven. Borrowers were prohibited from receiving more than one PPP loan in 2020 under the U.S. Small Business Administration’s “one loan per borrower” rule, the complaint says.