WASHINGTON (FOX 5 DC) - A D.C. man is behind bars after Department of Justice officials say he stole more than $2 million in Paycheck Protection Plan (PPP) loans and Economic Injury Disaster Loans (EIDL).
In documents unsealed Tuesday, DOJ officials say 41-year-old Kenneth Gaughan fraudulently used $2.1 million to purchase a $300,000 yacht, a $1.13 million rowhouse, and a $46,000 luxury sports sedan.
Gaughan was also charged, according to DOJ officials, on a separate embezzlement scheme relating to the alleged theft of over $472,000 in funds from the Catholic Archdiocese of Washington, D.C. Officials say he was previously employed there as Assistant Superintendent.
Documents say Gaughan "sought and received approximately $2.1 million in PPP and EIDL loans through applications to SBA lenders on behalf of multiple companies, all falsely purporting to register emotional support animals."
DOJ officials say Gaughan has been charged with one count of bank fraud, one count of the theft of government funds, one count of wire fraud, and one count of money laundering.
FOX 5's Evan Lambert will have more on this story on FOX 5 News at 10 p.m. and 11 p.m.