PROVIDENCE, R.I. (AP) — Federal prosecutors say a convicted bank robber from Rhode Island fraudulently obtained $600,000 in forgivable federal business loans and spent $30,000 in Las Vegas before being caught.
Michael Moller was held without bail pending trial at an appearance Tuesday in federal court.
Prosecutors say the 41-year-old Middletown man in April filed for $4.7 million in loans through the Paycheck Protection Program to pay employees at businesses he said were based in Fall River, Massachusetts.
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There was no evidence those businesses existed.
The program's funds are intended for businesses struggling because of the coronavirus pandemic. Messages seeking comment were left with Moller's attorney.