US EditionHerb Chambers to pay $11.8M to settle PPP loan fraud allegations
- Herb Chambers and associated companies will pay $11.8 million to settle claims of improperly obtaining Paycheck Protection Program loans.
- The settlement resolves allegations that Chambers' companies improperly certified their eligibility for the pandemic-era PPP loans.
- Federal authorities argued that eight of Chambers' companies were ineligible due to exceeding a $20 million PPP loan limit.
- CEO Nicolas Gennetti stated the settlement resulted from unclear PPP loan rules; Chambers directed cooperation, stating, "management work cooperatively."
- The agreement recognizes Chambers' cooperation and confirms the proper use of all Paycheck Protection Program loan funds received during the pandemic.
16 Articles
16 Articles
Herb Chambers paying $11.8M to settle PPP loan fraud claims
EAST PROVIDENCE, R.I. (WPRI) — Herb Chambers, a well-known New England automotive retailer, has agreed to pay the federal government roughly $11.8 million to resolve claims that it fraudulently applied for and received pandemic relief funds, according to United States Attorney Leah Foley. The automotive retailer was accused of falsely certified to the United States Small Business Administration (SBA) its dealerships' eligibility for Paycheck Pro…
Lake Ridge Parks and Recreation settles false PPP loan claims in whistleblower case
The Lake Ridge Parks and Recreation Association has paid $695,000 to settle False Claims Act allegations that it falsely certified eligibility to receive a Paycheck Protection Program loan, the U.S. Attorney's Office in Alexandria said in a news release.
Mississippi couple sentenced for COVID PPP fraud scheme
MARSHALL COUNTY, Miss. (WJTV) - The U.S. Attorney's Office announced a Mississippi couple has been sentenced in connection with their leadership role in a multi-million-dollar PPP fraud scheme. U.S. District Court Judge Sharion Aycock sentenced Lakisha Pearson, 48, of Holly Springs, to a 75-month jail sentence to run consecutively to a previous 52-month sentence, totaling 127 months. Robert Pearson, 54, of Holly Springs, was sentenced to a 110-m…
Herb Chambers must pay government $11 million in settlement of pandemic-era loan case
BOSTON, Mass. (WLNE) — One of New England’s premier car dealers will have to pay millions back to the federal government to settle a paycheck protection program loan fraud case. Herb Chambers will pay over $11 million to settle allegations that his companies falsified their pandemic-era loan eligibility to the Small Business Administration in 2020. The federal government’s stipulations for the loans was that a single corporate group could not ge…
Herb Chambers to pay $11.8M in PPP loan fraud settlement
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