Man fraudulently obtained PPP loans to purchase alpacas, DOJ says – About Your Online Magazine

On Tuesday, a Massachusetts man was criminally accused of grossly increasing the number of employees at his pizzeria to fraudulently obtain aid funds from COVID-19, which he used to buy alpacas.

Dana McIntyre, 57, of Beverly is accused of electronic fraud and money laundering. He is due to appear in a Boston federal court on Tuesday afternoon.

If convicted, sir McIntyre he faces up to 20 years in prison.

Prosecutors say Mr. McIntyre obtained more than $ 661,000 in loan funds from the Payroll Protection Program last year, claiming it had 47 employees and a monthly payroll of $ 265,000 in its small pizzeria.

But sir McIntyre he never had more than 10 employees on his payroll, according to court documents.

He is also accused of creating fictional companies on behalf of his children to obtain relief loans from COVID-19.

After securing the loans, Mr. McIntyre he sold the pizzeria and used the money to buy a farm in Vermont and buy “several” alpacas, prosecutors said.

The farm advertises events like “The Alpaca Experience”, “Family Alpaca Picnic” and “Wine Cheese and Alpaca”, according to its website. It also sells alpaca products.

Prosecutors also alleged that Mr. McIntyre he used his PPP funds to buy a classic 1950s Hudson car and a GMC Sierra truck and paid $ 6,500 to buy airtime at a local radio station to present a program in which he talked about cryptocurrency.

Sign up for daily newsletters

Paula Fonseca