A Tennessee man admitted Thursday to receiving more than $600,000 in COVID-19 relief and using those loans for himself.
Thacker applied for and got hundreds of thousands of dollars through Paycheck Protection Program and Economic Injury Disaster Loan Program loan proceeds. , the Rhea County executive applied for a PPP loan of $257,800, an EIDL loan of $150,000 and another PPP loan of $257,800 nearly a year later.
"When applying for the loans, Thacker falsely certified that he would use the funds to pay employees and for other operating expenses. Instead of using the money to its intended purpose, Thacker used the funds for his own enrichment, among other things, purchasingThe investigation into the matter was led by the U.S. Secret Service.
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