The owner of Global Disruptive Technologies improperly used PPP money on personal items, an LED barber pole light and even a gift to his church, according to federal court documents.
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Skowhegan man charged with using PPP loan for barber pole light, church donation released on bond
Nathan Reardon, 43, is accused in federal court of submitting false information to receive and then misuse a $59,000 Paycheck Protection Program loan.
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A Skowhegan man charged with criminal fraud involving four alleged attempts to cash in on the federal Paycheck Protection Program was released on bond during an initial court appearance Thursday morning.
Nathan Reardon, 43, was charged last week with wire fraud and attempted wire fraud. Reardon allegedly submitted false information to apply for four of the PPP loans, the forgivable loans intended for small businesses struggling through the coronavirus pandemic, according to a criminal complaint filed Thursday at U.S. District Court in Bangor.
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.
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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.