{"attachment": "", "body": "<p><b>PORTLAND, Maine:</b>&nbsp;A North Berwick man pleaded guilty in U.S. District Court in Portland today to filing fraudulent applications for loans from the Paycheck Protection Program (PPP).</p>\n\n<p>According to court records, between April 2020 and September 2021, <b>Frederick Avery</b>, 49, submitted two applications for PPP loans that claimed he was the 100% owner of Superior Cruise and Travel LLC. Avery sold the agency to a limited liability company in Pennsylvania in November 2019. He claimed on the applications that the loans, which totaled more than $215,000, were for payroll, lease/mortgage interest, utilities, and other items. Avery submitted falsified bank statements from a non-existent account to support one of the applications.</p>\n\n<p>Avery faces up to 30 years imprisonment and a maximum fine of $1 million, followed by up to five years of supervised release. A federal district judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.</p>\n\n<p>The FBI investigated the case.</p>\n\n<p><b>Paycheck Protection Program (PPP):</b>&nbsp;The PPP was a COVID-19 pandemic relief program administered by the Small Business Administration (SBA) that provided forgivable loans to small businesses for job retention and certain other expenses. The PPP permitted participating third-party lenders to approve and disburse SBA-backed PPP loans to cover payroll, fixed debts, utilities, rent/mortgage, accounts payable and other bills incurred by qualifying businesses during, and resulting from, the COVID-19 pandemic. PPP loans were fully guaranteed by the SBA.</p>\n\n<p class=\"text-align-center\"><b>###</b></p>", "changed": "<time datetime=\"2024-07-15T16:49:31-04:00\">1721076571</time>\n", "component": [{"name": "USAO - Maine", "uuid": "7eb5d47c-fc6f-4914-9897-1dcc1e477646"}], "created": "<time datetime=\"2024-07-15T16:47:02-04:00\">1721076422</time>\n", "date": "1721044800", "image": "", "number": "", "teaser": "<p>Frederick Avery submitted two applications for PPP loans that claimed he was the 100% owner of Superior Cruise and Travel LLC. Avery sold the agency to a limited liability company in Pennsylvania in November 2019.</p>", "title": "North Berwick Man Pleads Guilty to Bank Fraud for Applying for PPP Loans for Travel Agency He No Longer Owned", "topic": [{"name": "COVID-Related Fraud", "uuid": "6827a162-b783-4ffa-a6c2-596fc9f07e39"}, {"name": "Financial Fraud", "uuid": "77a2d846-a826-49db-a31a-c5db747e9ad3"}], "url": "https://www.justice.gov/usao-me/pr/north-berwick-man-pleads-guilty-bank-fraud-applying-ppp-loans-travel-agency-he-no-longer", "uuid": "bffbdb57-2f75-4095-833b-90086e17a631"}