Herb Chambers bought his first dealership in 1985, starting what would become a network of dozens of dealerships bearing his name.
Longtime car dealership owner Herbert G. Chambers, several of his companies and another executive at the company have agreed to pay $11.8 million to resolve allegations that the companies falsely certified their eligibility for Paycheck Protection Program (PPP) loans.
The federal Department of Justice alleged that eight companies owned by Chambers were not eligible for the loans because the SBA had already loaned more than $20 million to other Chambers-owned businesses. Under the PPP, businesses that were part of a single corporate group were not allowed to get more than $20 million in PPP loans under a rule that took effect April 30, 2020.
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