A California man has been arrested and ordered held without bond for fraudulently obtaining some $9m in coronavirus relief funds and using some of the money to gamble in Las Vegas.
Andrew Marnell, 40, a resident of the Beverly Grove neighborhood of Los Angeles, allegedly submitted a number of fraudulent loan applications in relation to the coronavirus pandemic and obtained millions in Paycheck Protection Program (PPP) funds.
Prosecutors say he used some of the money to make risky stock market bets. He allegedly squandered hundreds of thousands of dollars at the Bellagio Hotel and Casino and other gambling establishments in Las Vegas as recently as last weekend.