A man decided to use his PPP loan to buy an alpaca farm, according to prosecutors.
On Tuesday federal prosecutors say a owner of a Massachusetts pizza parlor lied about the number of employees he had to fraudulently obtain more than $660,000 in federal coronavirus relief funds, then used some of the money to buy and stock an alpaca farm in Vermont.
Dana McIntyre, 57, of Grafton, Vermont, was arrested Tuesday and charged with wire fraud and money laundering, according to a statement from the U.S. attorney’s office in Boston.
He is scheduled to appear remotely in U.S. District Court in Boston later Tuesday.
“My client denies the allegation and will have further comment at a later date,” McIntyre’s attorney, Jason Stelmack, said in an email.
Officials say he also used the money to purchase at least two vehicles — including a 1950 Hudson — and weekly airtime for a cryptocurrency-themed radio show that he hosted, prosecutors said.
If convicted of both charges, he faces up to 40 years in prison and $750,000 in fines.