AMERICANALMANAC (Ken Jacobs) - Lawrence mayor arrested on federal charges he used $1.5 million Covid loan to fund campaign, pay personal debts
FBI agents with a bullhorn and battering ram arrested Lawrence, Massachusetts, Mayor Brian DePena at his home on federal wire fraud and money laundering charges, alleging he turned a pandemic relief loan into a personal and political slush fund. DePena, 61, appeared in federal court in Boston on Friday afternoon after agents forced their way […] The post Lawrence mayor arrested on federal charges he used $1.5 million Covid loan to fund campaign, pay personal debts appeared first on American Almanac .
FBI agents with a bullhorn and battering ram arrested Lawrence, Massachusetts, Mayor Brian DePena at his home on federal wire fraud and money laundering charges, alleging he turned a pandemic relief loan into a personal and political slush fund. DePena, 61, appeared in federal court in Boston on Friday afternoon after agents forced their way into his residence earlier that day. Prosecutors say the two-term mayor obtained a Small Business Administration disaster loan for his tire shop, Tenares Tire Services Inc., then requested several increases that ballooned the total to roughly $1.5 million, and spent the vast majority of it on expenses that had nothing to do with the business. Only about $150,000 of the loan went toward the tire shop,…Open
AI:Lawrence, Massachusetts Mayor Brian DePena was arrested by FBI agents using a battering ram and bullhorn following allegations that he converted $1.5 million in pandemic relief funds into a personal slush fund. Federal prosecutors charge the 61-year-old with wire fraud and money laundering, alleging he used an SBA disaster loan intended for his tire shop to pay off high-interest mortgages on various properties, settle IRS tax debts, and bankroll approximately $90,000 of his own political campaign. Despite facing up to 30 years in prison if convicted, DePena appeared in federal court smiling and declined to comment on whether he intends to resign from office.Open