Phoenix woman Celestine Strong faces federal prison in PPP loan fraud case - Phoenix Business Journal

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

Loans Loans Headlines News

Loans Loans Latest News,Loans Loans Headlines

Court records show the woman purchased luxury cars and other items with the PPP loans that were obtained using falsified documents. phoenix ppp

Celestine Coletta Strong of Phoenix has been sentenced to five years in prison after she fraudulently obtained Paycheck Protection Program loans that she used to purchase luxury vehicles and other items.

Court documents show that Strong conspired to submit loan applications with falsified employee and wage information and fake bank statements in an attempt to obtain 17 different loans totaling more than $3.5 million in loan proceeds, which were rejected. Ultimately, Strong fraudulently obtained PPP loans worth approximately $400,000. One loan, worth nearly $280,000, was obtained through a Scottsdale business entity known as Transitions Studio and Spa LLC, according to court documents.

 

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

 /  🏆 254. in LOANS

Loans Loans Latest News, Loans Loans Headlines