July 6, 2022

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Man Pleads Guilty to Misusing Pandemic Relief Business Loan | Mississippi News

Man Pleads Guilty to Misusing Pandemic Relief Business Loan | Mississippi News

STARKVILLE, Pass up. (AP) — A Mississippi person pleaded responsible Monday to a federal wire fraud demand for misusing extra than $6 million in organization loans via a pandemic relief method, prosecutors said.

Fairly than use the income for his firms, Christopher Paul Lick admitted utilizing it for own investments in the stock market and shopping for a home valued at extra than $1 million, in accordance to a information launch from Clay Joyner, the U.S. legal professional for northern Mississippi.

Lick, 47, of Starkville, filed fraudulent loan applications to banking companies that have been offering financial loans as aspect of the Paycheck Defense Plan, according to court docket documents.

The documents show Lick owned and managed 4 companies, like Aspen River Candle Co., primarily based in Columbus, Mississippi. Joyner reported Lick admitted overstating the variety of staff members and payroll expenses to obtain dollars.

Paycheck Security Application financial loans had been certain by the Smaller Organization Administration underneath the federal Coronavirus Assist, Relief and Financial Security Act.

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“The CARES Act mortgage programs were supposed to aid smaller enterprises and families having difficulties to survive through a complicated pandemic,” Joyner explained. “Unfortunately, far as well lots of people like the defendant abused these applications for their have particular benefit.”

Lick entered the responsible plea on the day he had at the time been scheduled to go on demo. He faces up to 30 a long time in jail, with sentencing established for Aug. 12 in advance of Senior U.S. District Judge Glen Davidson.

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