Feds Say Coppell Man Spent $17 Million In Fraudulently Obtained PPP Loans On Homes & Luxury Cars

From CBS Dallas/Fort Worth:

October 9, 2020

NORTH TEXAS (CBSDFW.COM) – A Coppell man has been indicted for fraud and money laundering after he allegedly spent more than $17 million in Paycheck Protection Program loan money on lavish personal expenses.

Dinesh Sah, 55, now faces three counts of wire fraud, three counts of bank fraud and one count of money laundering.

“Mr. Sah exploited this terrible pandemic for personal gain – and he should be held accountable to the American people for that behavior,” said U.S. Attorney Erin Nealy Cox. “COVID-19 has devastated the finances of hardworking business owners across the nation. PPP funds should be reserved for those who really need them to keep their companies afloat.”

Read more at CBS Dallas/Fort Worth