Guy uses COVID relief fund money to buy a Kia Stinger and a luxury yacht

DId he have to settle with the Stinger or did he really plan to buy it?

1w ago

21.6K

Cases of people siphoning off public money for personal expenses is becoming as common as flu now. Although the majority of these instances involve fraudsters forging false paperwork and extracting money, it is the numerous yet radical ways in which they spend these large-scale currencies that brings an interesting twist to it.

The most recent case being of Kenneth Gaughan, a 41-year-old resident of Washington, D.C., getting charged for fraudulently obtaining funds amassing to $2.1 million from the U.S. Government’s Paycheck Protection Program (PPP) launched to assist small businesses to survive in this coronavirus pandemic.

While this was as predictable as any fraudulent case could be, it is Kenneth’s expenditure pattern which might wow car enthusiasts and fellow fraudsters alike. Post siphoning off $2.1 million, the criminal went on to purchase a 33-foot watercraft Cruisers Yacht valued at $300,000 and a house worth $1.13 million.

With the remaining $50,000 and a requirement for road transportation, he didn’t go for a BMW, Audi, Mercedes. Instead, he went for a 2020 Kia Stinger sports car sedan. I’m guessing his millionaire expenditure list had a sports car listing somewhere, but he didn’t have enough money post his first two acquisitions.

As for the people interested in his criminal actions, Gaughan was found guilty of funnelling funds from the PPP and Economic Injury Disaster Loans (EIDL) received upon request while representing several companies that falsely claimed to register emotional support animals. He allegedly forged documents and bank statements as well to procure the seven-figure amount. Authorities later arrested Gaughan with his yacht, his Kia, his investments and his bank accounts getting seized simultaneously.

This is the second instance reported where an American citizen had been arrested for siphoning money off the PPP fund. The first instance occurred around three weeks ago when a Detroit-city resident bought an all-American garage for himself with the fund money.

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Comments (32)

  • EXCUSE ME no one 'settles' for a stinger. They are just very wise consumers with a very respectable taste in cars. Sometimes that guys genius, its almost frightening i say.

      11 days ago
  • Clearly didn't learn from the last guy...

      11 days ago
  • Other cars from the known luxury/sports companies might have garnered more attention to his lifestyle and source of funds,hence he chose the KIA.

      11 days ago
    • Yup, that's one theory. Even I had the same.

      But what about the 1 mil mansion. I think that's a pretty 'concrete' way to show your wealth

        11 days ago
    • Yep

        11 days ago
  • Interesting to know that he is not a Florida Man...

      10 days ago
    • Hahahaha.

      I just got to know about the Florida man phenomenon this year

      Absolutely crazy

        10 days ago
  • america

      11 days ago
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