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A New York City investment manager was charged Friday with stealing more than $2.4 million from five lending institutions through Payment Protection Program loans, prosecutors said in a statement.
Gregory Blotnick, 33, is accused of applying for five separate PPP loans between April 2020 and August 2020, and lying about the number of employees he had at his companies, Brattle Street Capital LLC and BSC Management LLC.
While the loans were meant to cover payroll costs, prosecutors accused Blotnick of instead transferring a “vast majority” of the money to his personal trading accounts and losing it details ⇒
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