Lil Wayne Accused Of Lying To Get $9m Loan Gov.t Loan
Lil Wayne Accused Of Lying To Get $9m Loan Gov.t Loan. Rap superstar Lil Wayne is currently facing a legal battle over allegations of making false claims to obtain a $9 million loan. The rapper was allocated funds under the Shutter Venue Operators Grant Program, allegedly designed to help struggling music venues avoid bankruptcy. However, because Lil Wayne reportedly admitted to using marijuana, his company was not eligible.
Lil Wayne Accused of $9m Loan Scam
Lil Wayne Accused Of Lying To Get $9m Loan Gov.t Loan.
According to Business Insider, Dwayne ‘Lil Wayne’ Carter organization was given $8.9m.
During the Pandemic, the government gave many small businesses loans to offset losses caused by their businesses being shut down.
Some businesses were able to recover losses for the most part. However, some did not, and they closed for good.
In this case, Lil Wayne claimed his company provided a ‘drug-free workplace,’ so he was given the money.
Upon further investigation, the SBA (Small Business Association) claimed Lil Wayne was not entitled to the funds.
They based their claims on only being given a little time to conduct a full investigation. In other words, they did not do their due diligence.
SBA said the drug certification process was ‘fairly narrow’ and didn’t cover ‘personal actions.’ So, Lil Wayne’s alleged personal use of marijuana was not a consideration, as stated by Hip Hop DX.
The funds received by SVOGP will not have to be allegedly given back.
Legal Battle Unfolds Over Alleged Fraudulent Loan
The legal battle between Lil Wayne and SBA still unfolds in the public eye. We aren’t sure if Lil Wayne will have to pay back the funds his company received.
However, BET reports that others who received government loans during the pandemic have paid back at least $400m.
If these allegations hold up, Lil Wayne may have to pay back some or all of the money. Furthermore, there are no court proceedings against Lil Wayne.
However, that does not mean he will not have to answer in a court of law. As we already know, Lil Wayne is not the only businessman who received government loans.
As mentioned earlier, many small businesses benefitted from fPandemicloans during the Pandemic. We are only hearing about Lil Wayne because he is a rich celebrity.
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