The Rancho Santa Fe Association, which as a 501(c)(4) nonprofit was not eligible to obtain a PPP loan, paid the federal government as part of a larger $5.8 million settlement with other homeowners …
The Rancho Santa Fe Association, a nonprofit homeowners group that runs a golf course, tennis club, luxury hotel and other amenities in the exclusive North County community, has paid the federal government more than $2 million to settle allegations that it knowingly defrauded a COVID-era program meant to provide loans to small businesses.
“They did so even though they had millions of dollars in revenue every year that was not reliant on the unpredictable swings of the economy but instead on a simple tool: assessments to their wealthy membership,” the whistleblower complaint alleged. “Many country clubs nationwide acted similarly. Rather than obtain PPP loans as the intended American businesses in need, Defendants approached the program as opportunists.
While the Rancho Santa Fe Association paid just over $2 million to settle the allegations, the Pine Mountain Lake Association, a homeowners group near Yosemite National Park, paid the largest sum at more than $2.37 million. A pair of golf courses — Glendora Country Club in Los Angeles County and The Palms Golf Club in Riverside County — each paid about $700,000 to settle the allegations.
Courtney LeBeau, president of the Rancho Santa Fe Association’s board of directors, told the Union-Tribune last year that the association applied for its PPP loan on April 7, 2020, in the early days of the pandemic, and did so “in good faith and based on the professional advice and federal guidance available at the time.”
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rancho Santa Fe's Anna Buffini blazing trail toward 2024 Paris OlympicsAnna Buffini and her horse, Fiontini, may have names that rhyme, but it’s their chemistry in the dressage arena that makes them a dynamic duo capable of…
Read more »
San Diego stores: Tip Top Meats closing, Izola reopens, Rancho Santa Fe gets global fashion boutiqueTip Top Meats will remain at its 6118 Paseo Del Norte location until Sept. 30, the company said.
Read more »
New Florida law cracks down on HOA authorityGov. Ron DeSantis addressed the media in Gainesville Wednesday.
Read more »
New Florida law cracks down on HOA authorityThe new law curbs HOA power on trash cans, holiday decorations and several other items.
Read more »
Fraud victim used compromised USPS collection box in Rancho San Diego'The best part of my job is telling stories that yearn to be told.'
Read more »
Electric guitars valued at more than $6,000 stolen from Rancho Cucamonga storage unitA man who runs an electric guitar resale business says a storage unit that contained electric guitars valued at more than $6,000 was broken into and cleared out.
Read more »