A man from Houston stole $3 million from a PPP loan and used the money to fly private jets

A man from Houston stole  million from a PPP loan and used the money to fly private jets

HOUSTON – During the COVID era, the government provided PPP loans to small business owners and some other businesses. One Houston man is currently in prison for his PPP loan fraud.

47-year-old Scott Jackson Davis confessed on May 26, 2022, to wire extortion and on Friday he was condemned to 8 years and a half years in government jail promptly followed by three years of directed discharge, said U.S. Lawyer Alamdar S. Hamdani.

According to the U.S. Attorney’s office, The Secret to Speaking a New Language Fluently Babbel | Sponsored Davis was also ordered to pay restitution in the amount of $3,002,655.13.

According to court documents, Davis was on supervised release for a different conviction for wire fraud at the time of the PPP loan fraud. He was sentenced for the ambush robbery that turned into a murder in 2017. When he began submitting bogus applications for the Paycheck Protection Program, he had only been released from prison for slightly more than four months.

Through three fraudulent loan applications Davis submitted to multiple financial institutions, Davis received $3.3 million in PPP funds in 2020. He claimed ownership of Skilled Trade Investments LP, Skilled Trade Staffing LLC, and Skilled Trade Investments Group, three businesses he claimed to have a large payroll and a lot of employees.

Officials claim that the businesses lacked any employees at all and, if they did, very little payroll. He additionally manufactured IRS documentation to prove the immensely expanded operational expense.

Download the Fox 26 app by clicking this link. Davis lied in the fake PPP applications that he had never been convicted of a felony, when in fact he had been convicted of a felony and was on supervised release for a 2017 wire fraud conviction that had nothing to do with the application.

A lot of Davis’s fraudulent PPP loan funds were used to travel in a private jet, luxury vehicles, real estate, guns, and jewelry.

He will remain in custody until he is transferred to a facility to be determined in the near future by the United States Bureau of Prisons.