US man charged with using €4.1m in Covid loans to buy holidays and supercars

Mon, 10 May, 2021 - 21:43

Associated Press reporters

A California man has pleaded not guilty to charges that he obtained $5m (€4.1m) in federal coronavirus relief loans for phony businesses and used the money for lavish holidays and to buy a Ferrari, Bentley and Lamborghini, prosecutors said.

Mustafa Qadiri, 38, was arrested last week on suspicion of scheming to defraud the Paycheck Protection Programme, implemented last year to help small businesses struggling during the Covid-19 pandemic.