A wedding planner can plan on serving some prison time after admitting he stole money from the Paycheck Protection Program last year.
According to court records, 44-year old Fahad Shah of Murphy told one government lender he needed PPP money to keep his 126 employees at WBF Weddings by Farah on the job during the pandemic.
Then he told another lender that he needed money to keep his 126 employees on the job. More than $3 million PPP in applications. And he ended up getting $1.5 million in forgivable loans.
The trouble was, the numbers were off. Shah didn't have 126 employees, it was him and one other guy.
Records show the money was used to pay off his mortgage, buy two Tesla electric cars, two freightliner trucks and a Merdedes Benz van.
Shah has confessed to the fraud and will face a possible 20-year prison term at a later date.
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