Michael S. O'Meara, Inc. Arrest?
Date: August 05, 2022 03:11PM
MIKE O'MEARA / TMOS MISUSE PPP FUNDS?
Source: U.S. Small Business Administration (SBA)
On, May 1, 2020 Michael S. O'Meara, Inc received 28,622.00 in SBA Payroll Protection Program funds thru Bank of America. That loan was fully forgiven on February 25, 2021
On that same day, February 25, 2021. Michael S. O'Meara, Inc received via Bank of America, a second round of PPP funds for 38,813.00.
THIS TIME, ACCORDING TO HIS RANT ON A RECENT EPISODE OF TMOS AND THE SBA WEBSITE, THE SBA VIA BANK OF AMERICA, HAS AUDITED HIS APPLICATION AND REJECTED O'MEARA'S REQUEST TO HAVE ROUND 2 FUNDS FORGIVEN AND MUST BE FULLY REPAID BACK OVER 60 MONTHS + SMALL INTEREST RATE.
Second Draw PPP loans made to eligible borrowers qualify for full loan forgiveness if during the 8- to 24-week covered period following loan disbursement:
Employee and compensation levels are maintained in the same manner as required for the First Draw PPP loan,
The loan proceeds are spent on payroll costs and other eligible expenses,
At least 60% of the proceeds are spent on payroll costs
IF Michael S. O'Meara, Inc DIDN'T ADHERE TO THE TERMS OF THE LOAN, ASIDE FROM PAYING THE MONEY BACK TO US TAXPAYERS, ISN'T THAT MISUSE OF FUNDS FELONY FRAUD?
SHOULD O'MEARA BE ARRESTED BY THE FEDS?