Federal prosecutors filed fraud prices towards the chief of a monetary agency that acquired funding from an organization affiliated with basketball legend Earvin “Magic” Johnson to subject loans by the federal government’s Paycheck Safety Program.
The federal authorities alleges that
Rafael Martinez,
chief govt officer of MBE Capital Companions, used fraudulent monetary statements to realize approval from the Small Enterprise Administration to subject loans to small firms by the Paycheck Safety Program. Beneath this system, government-approved lenders supplied Covid-19 help to small companies within the type of forgivable loans backed by the SBA.
The costs have been filed final week