WASHINGTON (Pakistan Point News / Sputnik - 23rd May, 2020) A criminal complaint charges Hollywood movie producer William Sadleir of fraudulently applying for, and receiving, $1.7 million in COVID-19 relief to pay off credit card balances and other debts, the US Justice Department said in a press release on Friday.
"This defendant allegedly used Paycheck Protection Program loans to pay off his personal credit card debts and other personal expenses, rather than using the funds for legitimate business needs," Assistant US Attorney General Brian Benczkowski said in the release.
According to court documents cited in the release, Sadleir allegedly obtained over $1.7 million in forgivable loans guaranteed by the Small Business Administration by falsely claiming the money would be used to pay employees in three film production and distribution companies.
Sadlier founded Aviron Pictures and served as the indie production company's chairman until he was ousted in January.
The industry news outlet Deadline reported that 12 people of the near 30-person staff at Aviron Pictures were pink-slipped on Friday and issued their final paychecks.
