Accused drug traffickers received $ 20,000 SBA $500 loans

St. Petersburg police said three men arrested in connection with a drug trafficking investigation were using Small Business Administration loans”}” data-sheets-userformat=”{“2″:513,”3”:{“1″:0},”12″:0}”>$500 loans to fuel their operations

What is happening: Dante Payne, Russell Jones and Kenneth Davis were all arrested earlier this month on drug-related offenses and fraud charges against a financial institution, WFLA reports $500 loans

• Payne was awarded $ 20,832 after claiming to own “Brother’s Landscaping Co.,” telling the government the company made $ 128,800 in 2020.
• Jones got $ 9,516 after claiming to own a hair salon that grossed $ 45,681 last year.
• Davis raised $ 20,832 for a business police did not identify, but said it brought in $ 105,900 last year.

Why is this important: These may be relatively small sums of money, but they add up when more than 500 people across the country have been accused of pandemic loan fraud.

during this time: In Orange County, police say a handful of accused gang members have asked for a federal SBA paycheck and loan protection program that could have helped pay for drugs and guns at times used to commit violent crimes, according to an August report from WFTV in Orlando.

• At least six people have been accused of setting up LLCs, soliciting people through social media, and in some cases stealing identities to apply for PPP and SBA loans that have been approved.

What they say: Pasco County hemp nursery owner Marlon Santiago told WFLA he was disgusted to learn of these cases as small business owners still await their SBA loans.

• “People like me still have a hard time getting the money we should be getting. And you got guys doing it the wrong way, taking money hand in hand. “