A Magic Johnson Affiliate Funded a Small-Business Lender. That Lender’s CEO Now Faces Fraud Charges.

  • 📰 WSJ
  • ⏱ Reading Time:
  • 13 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 63%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Federal prosecutors have filed fraud charges against the CEO of a PPP lender that received funding from a company affiliated with basketball legend Magic Johnson

Federal prosecutors filed fraud charges against the leader of a financial firm that received funding from a company affiliated with basketball legend Earvin “Magic” Johnson to issue loans through the government’s Paycheck Protection Program.

The federal government alleges that Rafael Martinez, chief executive officer of MBE Capital Partners, used fraudulent financial statements to gain approval from the Small Business Administration to issue loans to small companies through the

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

world_news_eng Somehow I'll bet that there's a degree of Kevin Bacon involved

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 98. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines