$2.1M COVID-19 Relief Money Used To Buy Kia Stinger, Yacht, And House

The third one was caught.

One man allegedly purchased a Kia Stinger and a house. Although these items aren’t too bad, it is a case of a man spending his fortune. However, the money used for buying them was allegedly fraudulent. Worse, the money came from the U.S. government’s Paycheck Protection Program. This program was designed to assist businesses in staying afloat and paying their employees during the coronavirus epidemic.

The news was brought to you by the U.S. Department of Justice via Business Insider  One Kenneth Gaughan, a 41 year-old Washington, D.C. man, has his criminal case dismissed. Gaughan is accused of securing $2.1 million in PPP funds and Economic Injury Disaster Loans relief funds.

$2.1M COVID-19 Relief Money Used To Buy Kia Stinger, Yacht, And House

According to the complaint, Gaughan fraudulently submitted claims for relief funds on behalf of multiple companies. He is now being charged with falsifying paperwork and bank records. He was also charged with bank fraud, theft of government funds and money laundering.

Gaughan, as previously mentioned, used the funds for a 2020 Kia Stinger and a yacht. The first two were also taken by authorities along with Gaughan’s bank and investment accounts. However, the civil forfeiture process for the house is ongoing.

This isn’t the first time that we’ve seen such an inexcusable act of using relief funds during this pandemic. A Florida man was also accused of using COVID-19 funds to purchase a Huracan.

A Texas man was also charged with the same crimes earlier this month. However, he bought a Lambo Urus as well as a Ford F-350 to help him spend the millions.