A Kingdom City business owner was sentenced in federal court Monday after he fraudulently received more than $673,000 in pandemic loans.
Scott Maples, 40, will serve 18 months in federal prison without parole and must pay $684,034 in restitution, according to a news release from the U.S. Department of Justice.
By pleading guilty to one count of bank fraud, Maples admitted that he fraudulently applied for and received Paycheck Protection Program (PPP) loans by reporting exaggerated and inaccurate payroll expenses for his three businesses. He also submitted fabricated bank statements and tax forms, according to the release.
Maples’ three companies, Maples Enterprises, Clearance Depot and Area 23, LLC, received the fraudulent loans that ranged from $51,000 to $270, the release said.