Marina Owner Pleads Guilty To Lying To Get Federal Loan

AP
June 10, 2019 - 3:08 pm
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HARTFORD, Conn. (AP) — The owner of a Connecticut marina has pleaded guilty to lying about the damage Superstorm Sandy did to his business to obtain a federal disaster loan.

Federal prosecutors say 39-year-old Scott Sundholm pleaded guilty Monday to making false statements for the purpose of obtaining a Small Business Administration loan.

Prosecutors say Sundholm, who owns S&S Marine LLC in Old Saybrook, said in his 2016 loan application that the October 2012 storm caused a tidal surge that damaged floating boat docks, a boat ramp, a bath house, and other structures.

An investigation found that the bath house was demolished before the storm and the marina had no floating docks or boat ramps.

He faces two years in prison at sentencing in September. He has already repaid the SBA more than $1.6 million.