Philadelphia business owner accused of using $ 1 million PPP loan to buy Florida home and luxury car – NBC10 Philadelphia

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The owner of a construction company in Philadelphia faces fraud charges for allegedly falsifying information on a payroll protection loan application to obtain nearly $ 1 million, which he used to buy a variety of high-value properties, including a new home in Florida. reported by the Philadelphia Business Journal

Devron BrownThe 50-year-old Philadelphia resident was arrested and charged with two counts of bank fraud and nine counts of money laundering, the US Attorney’s Office in the Eastern District of Pennsylvania said Tuesday.

The indictment alleges that Brown received $ 937,500 in PPP funds in June 2020 from an app containing false information about his construction business, Just Us Construction Inc. Among the alleged frauds made by Brown were the counting and wages of employees of the Philadelphia company, payroll taxes paid on wages. , and the intended use of the loan.

Read more about the charges at PBJ.com.

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