We are grateful for our stimulus checks - at least those who have actually received them. For information on why you or a loved one hasn't received the latest check, click HERE. As one of the "victims" of the COVID fallout, I found myself with NO income. Then my husband lost his job, too. So, we have been living on prayers, Ramen and the generosity of others.
However, things are different for certain purchases that people make with their stimulus money. We're not talking about paying rent or bills. There have been people who have used their COVID-19 relief funds for lavish expenditures, such as a Corvette Stingray.
According to the Department of Justice, Dinesh Sah, who lives in Coppell, pled guilty recently to setting up a $24.8 million Ponzi Scheme that allowed him to buy expensive homes and cars using small business loans.
Coppell native Dinesh Sah, 55, pleaded guilty to orchestrating a $24.8 million Paycheck Protection Program (PPP) scam that used small business loans to purchase lavish homes and expensive cars, according to the Department of Justice (DoJ). People like Sah have denied U.S. citizens in REAL NEED of their stimulus checks.
According to the DOJ, Sah filed 15 fake applications under random names. By the time his case came to the attention of the DoJ, Sah had 8 different lenders. He bought several homes in TX, paid off existing mortgages and bought the vehicles that cost upwards of $60,000. He sent many millions of dollars via international transfers via Western Union and other services.
WHAAAAAT?
The PPP was supposed to help struggling small business owners, not to make individuals personally wealthy.
Unfortunately, with all of the positive things that the government has provided, there are always people who can find a way to exploit it, leaving those who need the money(like my mom) out in the cold.