iStockAccording to the complaint, St John reportedly engaged in a scam to establish firms or exploit existing ones to submit fraudulent applications to the Small Business Administration (SBA) for Paycheck Protection Program (PPP) funds.
St John is one of the 18 people involved in this conspiracy. The defendants are accused of obtaining at least 16 loans totaling $3.5 million. According to reports, the 18 accused offenders have been detained and summoned to answer before a federal magistrate judge. If guilty, they could face a punishment of 20 years of imprisonment.
The Money Scandal
The defendants are accused of lying about the genuine nature of their business, the number of workers, and the sum of income on their papers. Reportedly, they misrepresented the material information on their applications. The defendants were then accepted for a loan by the SBA and other financial institutions. After getting their loans approved, the defendants did not use the funds they intended for, such as paying employee salaries, covering periodic liabilities or bill payments, or continuing employee health care benefits. Rather, they paid Hill and Moran, transferred the money to their accounts, and spent all that money on personal goods. As per the authorities, St John, who played the main Red Power Ranger on the series, and his co-defendants funded the scheme's ringleaders and spent money on personal goods.
Paycheck Protection Program
The Paycheck Protection Program has been established by the government to provide financial aid loans to support small businesses and their workers hampered by the coronavirus pandemic. The US Treasury set aside more than $349 billion in forgiven loans to help small firms pay their employees throughout the crisis.
Reunion Plan to be Ditched
Meanwhile, Hasbro has invited all of the show's actors to reunite together over a 30th-anniversary reunion, but St John's legal concerns have placed doubt on whether it will still happen.
St John is one of the 18 people involved in this conspiracy. The defendants are accused of obtaining at least 16 loans totaling $3.5 million. According to reports, the 18 accused offenders have been detained and summoned to answer before a federal magistrate judge. If guilty, they could face a punishment of 20 years of imprisonment.
The Money Scandal
The defendants are accused of lying about the genuine nature of their business, the number of workers, and the sum of income on their papers. Reportedly, they misrepresented the material information on their applications. The defendants were then accepted for a loan by the SBA and other financial institutions. After getting their loans approved, the defendants did not use the funds they intended for, such as paying employee salaries, covering periodic liabilities or bill payments, or continuing employee health care benefits. Rather, they paid Hill and Moran, transferred the money to their accounts, and spent all that money on personal goods. As per the authorities, St John, who played the main Red Power Ranger on the series, and his co-defendants funded the scheme's ringleaders and spent money on personal goods.
Paycheck Protection Program
The Paycheck Protection Program has been established by the government to provide financial aid loans to support small businesses and their workers hampered by the coronavirus pandemic. The US Treasury set aside more than $349 billion in forgiven loans to help small firms pay their employees throughout the crisis.
Reunion Plan to be Ditched
Meanwhile, Hasbro has invited all of the show's actors to reunite together over a 30th-anniversary reunion, but St John's legal concerns have placed doubt on whether it will still happen.
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