SPRINGFIELD, Mo. (KY3) – A judge sentenced the owner of several Springfield restaurants to prison for wire fraud after using various companies to apply for federal loans during the pandemic fraudulently.
Bạn đang xem: Judge sentences Springfield restaurant owner after guilty plea for fraudulently applying for federal pandemic loans
Michael Felts must spend two years in prison after pleading guilty to two counts of wire fraud in the summer of 2023. The federal judge also ordered him to pay more than $8.1 million in restitution.
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Federal documents show that Felts received the loans through the following companies: Taco Habitat GMP LLC, Taco Habit Branson LLC, Habitat Restaurant Holdings LLC, Cluck 2 LLC, Super’s Entertainment LLC, Diagnostic Equipment Inc, Sonic Werx LLC, White River Brewco LLC, E-8 Productions LLC, and Concept Pro LLC.
Financial records obtained by the IRS show that Felts applied for 12 PPP loans using the companies listed above. Federal officials say most of the companies Felts used did not have employees and were not in operation when he filed the applications, even though Felts stated he did have employees and were in operation at the time. Investigators say Felts also applied for 13 other PPP loans using synthesized or fake companies he owned. According to investigators, synthetic identity fraud occurs when criminals create new identities by mixing real and bogus information to apply for credit.
As part of the plea agreement, Felts forfeited all of the property he bought with the money, including:
- 2021 Galeon 470SKY Yacht
- 2020 Lexus RX350
- 2020 Ford Transit Van
- 2020 Jeep Wrangler
- 2018 Cadillac CT6
- 2021 Subaru Outback
- 2020 Ford Transit Van
- Several lots in the Jones Spring subdivision in Greene County
- Platinum “RoyalT” eternity band made by Tacori
- Two-tone Rolex watch
- Sterling silver cable cuff bracelet with pearl and caps made by David Yurman
- Sterling silver cable cuff bracelet with pearl and caps made by David Yurman
- An 18-karat yellow gold Rolex
- A white gold diamond bracelet featuring round brilliant cut diamonds
- A pair of 18-karat white gold, three-prong/martini style round brilliant cut diamond stud earrings
- A 1952 Topps Jackie Robinson baseball card
- A 1980-1981 Topps Larry Bird, Julius Erving, and Magic Johnson card, signed by all three
- A 1909-1911 Ty Cobb baseball card
- A 2015-2016 “Trio Autographs” Larry Bird, Julius Erving, and Magic Johnson baseball card
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RELATED: Click here for a breakdown of how Felts paid for these items
The judge recommended he be designated to a prison close to Springfield. He must report by February 28.
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