Rolls-Royce, Porsche: PPP spending spree ends with prison

An Irvine man went on a luxurious spending spree with fraudulently obtained PPP loans, shopping for himself luxurious vehicles and designer swag, and touchdown himself in jail, federal prosecutors introduced Friday. Pierre Rogers, 44, was sentenced to 41 months in federal jail this week after pleading responsible to conspiracy to commit wire and financial institution fraud in reference to the scheme.Rogers and his co-defendant, Joshua Leavitt, utilized for practically $5 million in loans from the Paycheck Safety Program in addition to Financial Harm Catastrophe Loans for a number of companies that they owned utilizing falsified paperwork together with tax returns.They submitted 22 functions and finally acquired simply over $800,000.A lot of the cash was spent not for the advantage of firm staff however on a raft of luxurious gadgets and experiences.Rogers purchased a 2011 Rolls-Royce Ghost for $107,780 and a Porsche for $56,000.He spent practically $2,000 at Cartier, greater than $4,000 at a Jaguar/Land Rover dealership and over $3,000 every at Bulgari and Bottega Veneta.Rogers additionally spent practically $8,000 mixed at a Ritz-Carlton resort and a seaside resort within the span of 18 days in October 2020.“The defendant additionally was a daily connoisseur of sushi and steak on the taxpayer dime,” prosecutors wrote within the sentencing memorandum.“The defendant took benefit of the COVID disaster by spending fraudulently obtained taxpayer-backed funds on luxurious gadgets, whereas those that have been really entitled to the funds struggled to maintain their companies open and their staff paid,” U.S. Atty. Jane Younger mentioned. Leavitt is because of be sentenced in March.