The Blaze reports:
The U.S. Department of Justice, the Security and Exchange Committee, and the U.S Attorney’s Office for the Southern District of New York announced fraud charges against former Hollywood executive producer William Sadleir on Friday. Sadlier allegedly stole $1.7 million in funds meant for coronavirus relief and swindled $25 million from an investor.
Sadleir, the founder and former chairman of Los Angeles-based film production company Aviron Pictures, reportedly lied on applications to get $1.7 million in Paycheck Protection Program funds from the federal government, according to the Department of Justice.
The government alleges that the former producer used the funds:
- To buy a mansion in Beverly Hills;
- To purchase a Tesla;
- As income for he and his wife;
- To settle a legal dispute; and
- To buy furniture for his home.
The Paycheck Protection Program was set up by the U.S. government to provide financial assistance to small businesses devastated by the Coronavirus lock downs.