SPRINGFIELD, Mo. (Edited News Release/KY3) – A Springfield business owner pleaded guilty to bank fraud and money laundering after fraudulently obtaining $316,062 in Paycheck Protection Program loans under the CARES Act and using the funds for unauthorized purposes, including personal benefit.
Jason L. Hemingway, 47, applied for two PPP loans on behalf of his business, Principal Transfer Group, LLC, in February and April 2021. According to court documents, Hemingway falsely inflated the number of employees on the applications and certified that the loans were for eligible business expenses. He also used another person’s name without their knowledge or authorization to obtain the loans because of his own poor personal credit history.
Charges and restitution…