A California man was arrested and ordered to be held without bond on Thursday for allegedly fraudulently obtaining some $9million in coronavirus relief funds which he used to gamble in Las Vegas. Andrew Marnell, 40, 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. The US Department of Justice prosecutors said that the actual amount he fraudulently obtained could increase as their investigation continues. Marnell was arrested Thursday morning and faces a federal bank fraud charge after authorities determined that he had obtained the nearly $9million in PPP loans through applications ‘on behalf of different companies’ to insured financial institutions, as well as other organizations. My bank account is overdrawn and I’m bankrupt if my luck doesn’t turn. Authorities said Marnell, who is due back in court next Tuesday, faces up to 30 years in prison on the bank fraud charge.
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