When it comes to assholes, douchebags, and jerks, who takes the cake? Probably the guy who used $5 million in Covid relief money to fund his lavish vacations while amassing a collection of luxury cars.
Orange County triple threat Mustafa Qadiri obtained a small fortune in Paycheck Protection Program money last year for four businesses that didn’t really exist. The funds, which came as low-interest loans often converted into grants, were meant for small business owners with a staff of 500 or less. But Mr. Qadiri, bootstrapping son-of-a-gun that he is, had other plans.
Using a fake identity and paper companies including All American Lending Inc., All American Capital Holdings Inc., RadMediaLab Inc., and Ad Blot Inc. Qadiri was able to bathe himself in serious cash flow. After altering bank accounts and fake tax returns, the entrepreneur became an overnight millionaire, splurging on first-class vacations, two Ferraris, a Lamborghini, and Bentley.
Over the past year, the government has paid out close to 800 billion dollars in PPP loans. During that time, the smell of what appeared (to some) to be free money has lured plenty of unscrupulous shysters to the table. In California alone, an estimated $11 billion in federal funds have been fraudulently obtained.
But thankfully, those champagne-popping chickens are coming home to roost. After surrendering himself to authorities, Qadiri is now being held on $100,000 bail.
It’s a shame Qadiri’s millions in stolen assets have been frozen by the feds, otherwise, he could already be back at home using selfies of his seized Ferraris to get laid on Tinder. But don’t mourn Qadiri’s crumbling love life just yet. Never forget there’ll be plenty of action for the fancy man in the Big Pokey.
Cover Photo: Alexander Spatari (Getty Images)
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