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Man Spends $5 Million Dollars In PPP Loans On Luxe Vacations And Luxury Cars Like This Ferrari

38-year-old Mustafa Qadiri from Irvine, California, applied for PPP loans last year, and authorities are now saying he faked his way to getting his hands on $5 million dollars.

Mustafa falsely said he had four different businesses he ran out of Newport Beach.

All American Lending, Inc., All American Capital Holdings, Inc., RadMediaLab, Inc., and Ad Blot, Inc. were the names of the businesses that Mustafa gave.

Interestingly enough, none of those 4 companies are operational and they certainly weren’t last year either.

Last June and May, Mustafa filled out applications to be eligible for Payment Protection Program (PPP) loans, and he allegedly falsified what he told the banks he spoke with to apply.

“The false information allegedly included the number of employees to whom the companies paid wages, altered bank account records with inflated balances, and fictitious quarterly federal tax return forms”  the U.S. Attorney’s Office for the Central District of California said in a statement.

According to the U.S. Attorney’s Office for the Central District of California, Mustafa didn’t use his own name or information to apply.

Instead, he used another person’s name, someone else’s Social Security number, and someone else’s signature in order to complete the required paperwork.

Once the banks issued $5 million dollars to Mustafa, he then went on quite a spending spree, and here’s what he did with the money.

U.S. Attorney’s Office for the Central District of California; pictured above is a red Ferrari Mustafa purchased with his PPP loans

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