The Brief
- Tarrant County-based Speed Fab Crete agreed to pay the U.S. government $1.8 million to settle a lawsuit accusing them of fraudulently obtaining COVID-19 loans.
- The government claimed the company took out a $1.17 million loan while the company’s owners were facing criminal charges, a violation of the Paycheck Protection Program.
- In 2020, the company’s three owners and its chief financial officer pleaded guilty to hiring undocumented migrant workers.
A Tarrant County concrete company has agreed to pay back more than $1.8 million in fraudulently obtained COVID-19 funds, the U.S. District Attorney’s Office said.
The backstory:
Speed Fab Crete Corporation, a precast manufacturer in Kennedale, Texas, agreed to pay back more than $1.8 million to settle a lawsuit claiming it fraudulently received loans through the Small Business Administration’s Paycheck Protection Program.…