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.
Stream NBC10 Boston news for free, 24/7, wherever you are.
WATCH HEREMore on this story from Boston Business Journal
More Herb Chambers news
Get updates on what's happening in Boston to your inbox with our News Headlines newsletter.
SIGN UP 