"John Diehl, the former Republican house speaker, received about $380,000 in federal loans for his law firm between 2020 and 2022 through a program intended to help cover operating expenses for businesses affected by the coronavirus pandemic. But Diehl admitted in a September plea agreement that he instead used the money for personal expenses such as country club dues, swimming pool maintenance, his home mortgage and vehicle payments for a Tesla, Audi and Jeep."
"Prosecutors said he used more than half the money to fund his law firm's defined benefit plan, of which he was the only participant and also paid off a civil settlement related to his time as state house speaker."
"Through his education and public office, defendant had every privilege and opportunity, and to put it bluntly, he knew better than to engage in the charged fraud scheme, Hal Goldsmith, an assistant US attorney, said of Diehl in a court filing."
John Diehl, a former Republican Missouri House Speaker, received approximately $380,000 in federal Paycheck Protection Program loans intended for business operating expenses during the pandemic. Instead, he misused the funds for personal expenses including country club dues, swimming pool maintenance, mortgage payments, and vehicle purchases for a Tesla, Audi, and Jeep. He also used over half the money to fund his law firm's defined benefit pension plan, of which he was the sole participant, and paid off a civil settlement. Diehl pleaded guilty to wire fraud and was sentenced to 21 months in prison with a $50,000 fine, despite having repaid all funds to the Small Business Administration.
Read at www.theguardian.com
Unable to calculate read time
Collection
[
|
...
]