⏱ 3 min read
A swanky Maryland country club got caught red-handed for pocketing a $1 million PPP loan meant for small businesses in crisis. Woodholme Country Club Inc. in Maryland applied for the loan in early 2020, claiming it was eligible despite being a nonprofit organization not allowed to receive the funds.
According to the Justice Department, Woodholme knowingly made false representations to get the loan, which was forgivable if used for job retention and certain other expenses. The country club even got the SBA to pay lender fees to the bank processing the loan.
Woodholme Country Club will cough up $1,042,500 to resolve allegations of False Claims Act violations. The case was brought under the qui tam provisions, which allow whistleblowers to file lawsuits on behalf of the government and receive a portion of the recovery.
Aidan Forsyth, the whistleblower, will receive approximately $104,250 for his role in exposing the scheme.
The PPP loan program, part of the CARES Act, was designed to help small businesses weather the COVID-19 pandemic.
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📋 Key Facts
- Crime: Fraud & Financial Crimes
- Defendant: Maryland
- Location: DC
- Source: DOJ Press Release
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