Posted on 05/08/2021 6:13:10 AM PDT by artichokegrower
A California man is accused by federal prosecutors of fraudulently getting $5 million in COVID-19 relief Payment Protection Program (PPP) loans and spending the money on himself, including buying a Ferrari, Bentley and Lamborghini.
Mustafa Qadiri, 38, of Irvine, was arrested Friday, the Department of Justice said. The federal grand jury indictment charges him with four counts of bank fraud, four counts of wire fraud, one count of aggravated identity theft, and six counts of money laundering.
(Excerpt) Read more at 10tv.com ...
Mustafa Qadiri - Moustapha Diakhate is this a cultural thing?
With out a doubt, Racist charges!
Just another inept government run program. Are you surprised?
There is no more efficient means of destroying hard-earned capital than a government give-away program.
An individual will protect their own wealth and look for the best price for any good or service purchased with that hard-earned capital. But if that same capital is pried out of throw, eir hands thru taxes, then the equation changes. The government’s calculus o spending those taxes is very different. They don’t care about the best price for a good or service, they care about influence and buying votes. besides, it’s not even their money, so there is no incentive to be judicious in spending it.
Now, with MMT, the government is not even bothering with the pretense of balanced budgets. They’re spending future dollars that haven’t even been collected to pull forward spending now for their benefit now. They’re secure in the knowledge that political influence bought now is more important to them then some future generation being financially wiped out by their profligate spending.
As I read the rules for the PPP, I would have been eligible, although I am my only employee, and I was impacted minimally. (My accountant just rolled his eyes. That might or might not have been a good thing.)
I needs wheels to operate my delivery bizness
Wow. Waste, fraud and abuse of taxpayer money. What else is new under the sun?
Mustafa Qadiri
Mustafa isn’t demonstrating much Puritan Work Ethic. Maybe his ancestors didn’t come over on the Mayflower after all.
The problem with government emergency programs like this is in a rush to get help to people that really need it leaves the door wide open for scammers like this clown.
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