The former owner of the Budlong Hot Chicken chain and other restaurants in Chicago and Denver has been sentenced to 30 months in federal prison after admitting he fraudulently obtained more than $2.3 million in COVID relief funds and failed to turn over more than $430,000 in taxes withheld from his employees.
Jared Leonard, 45, of Littleton, Colorado, was sentenced this month by U.S. District Judge Edmond E. Chang in Chicago. Chang also ordered him to pay approximately $2.8 million in restitution to the IRS and U.S. Small Business Administration, federal prosecutors said.
Leonard submitted at least 10 fraudulent applications for Paycheck Protection Program and Economic Injury Disaster Loan funds between April 2020 and March 2021, each containing false information about his businesses, including employee counts, payroll expenses, gross revenue and whether the businesses were operating, according to a government sentencing memorandum…