Roofing News: Owner of Roofing Business in Jail for misuse of $2MM PPP loan | @Roofing Insights

Roofer's News: Owner of Target Roofing in Jail for misuse of $2MM PPP loan

A federal jury convicted Casey David Crowther, 35, of Fort Myers, in a PPP loan fraud case where authorities alleged the roofing company executive bought a $700,000 boat, among other expenditures, with the ill-gotten gains.

The president of Fort Myers-based Target Roofing & Sheet Metal, Crowther was convicted of bank fraud, making a false statement to a lending institution and two counts of money laundering. Prior to that trial and March 26 conviction, Crowther plead guilty to one count of bank fraud and one count of making a false statement to a financial institution related to a mortgage fraud scheme. In that case, according to a statement from the U.S. Attorney’s office, Crowther created false bank statements to justify a loan he had used to purchase a nearly $1.3 million waterfront house in St. James City, on Pine Island in Lee County.

In the PPP loan case, Crowther, according to evidence presented at trial, obtained a $2.1 million Paycheck Protection Program loan by falsely stating he intended to use the money to make payroll and pay for rent and utilities for Target Roofing and Sheet Metal. Yet Crowther, authorities contended at trial, “intended to use the money to enrich himself and, once the loan was obtained, quickly used the proceeds to make a series of personal purchases including a nearly $700,000 boat and a $100,000 payment to a former business partner,” according to the statement.

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