A business owner from Florida, USA, was arrested by the authorities for using $700,000 out of the $2 million USD that he got in relief funds during the coronavirus pandemic.
He used the money to buy a 40-foot private boat.
Casey David Crowther was arrested by the authorities.
He is charged with fraudulently acquiring millions through the Paycheck Protection Program (PPP) for his company Target Roofing & Sheet Metal, Inc.
The PPP was part of the Coronavirus Aid, Relief, and Economic Security Act.
The program was set up by the government of the USA to help small businesses pay their employees and maintain their businesses during this pandemic.
Crowther, the businessman, made false and misleading statements to a lender in April in order to secure the loan.
Out of the 2 million money that he got in the loan, he used $689,417 to purchase a 2020 40-foot catamaran boat.
He then transferred the rest of the money to multiple business accounts and closed the account that he used to obtain the loan.
If he gets convicted, he will face up to 30 years in federal prison.
Crowther was arrested Wednesday and released on a $100,000 bond