A Rockport man faces up to 30 years in prison and a $1 million fine for submitting fraudulent Paycheck Protection Program loan applications.
Mark X. Haley II, 42, pleaded guilty in U.S. District Court in Portland on Wednesday to fraudulently obtaining more than $1 million in PPP loan proceeds, according to Jana Spaulding, a spokesperson for the Maine district of the U.S. Attorney’s Office. Haley received $1,010,581 in PPP funds.
Haley filed fraudulent loan applications at two banks for businesses that he was in charge of, officials said. He reportedly listed false employees and payroll information, and submitted documents supporting the fraudulent claims to the banks.
The documents also included falsified federal employment tax returns, falsified time sheets and fraudulent bank records, according to court documents.
Haley has also been accused of using some of the fraudulently-obtained PPP funds to make a down payment on a sailboat.
Haley faces up to 30 years in prison and a $1 million fine, along with five years of supervised release. A sentencing date has not been set at this time.