Originally Syndicated on May 17, 2024 @ 5:48 am
About Ryan DiGiovanni Houston
Six companies affiliated with Ryan DiGiovanni Houston were established over a period of six years, with the most recent one being founded in December 2015, which was three years ago. At present, five of these corporations remain operational, whereas the sixth is dormant.
“DGV Investments LLC” is the name on two loans totaling $25,205 that were made to Houston, Texas-based businesses. This phenomenon may arise from several factors, including the receipt of first and second-draw loans by the same company, similar company names, application errors, fraudulent activities, or both.
Explaining Ryan DiGiovanni Houston DGV Investments LLC
In February 2021, the Small Business Administration (SBA) granted a $12,500 Coronavirus-related PPP loan to DGV Investments LLC, a limited liability company (LLC) based in Houston, Texas.
The company stated that it was owned by White men and had at least one employee during the time when the loan was applicable.
| Name | Status | Incorporated | Key People | Role |
| Dgv Investments LLC | Active | 2013 | 1 | President |
| Dgv Management LLC | Active | 2016 | 1 | President |
| Gha20 Managerial Company, LLC | Active | 2019 | 2 | Partner |
| Luigi Investments, LLC | Active | 2018 | 1 | Managing Member |
| Dgv Holdings LLC | Active | 2018 | 1 | Director |
| Ccgk Hospitality Group Houston, LLC Series B | Inactive | 2019 | 3 | Manager |
Ryan DiGiovanni Houston’s Connection
Ryan DiGiovanni is connected to two people.
Marisol Vasquez
Ryan DiGiovanni Houston and Marisol Vasquez are both associated with the following business:
| Name | Status | Incorporated | Key People | Role |
| C—————-B | Inactive | 2019 | 3 | Manager |
Derek Campbell
Ryan DiGiovanni Houston and Derek Campbell share involvement in the following businesses:
| Name | Status | Incorporated | Key People | Role |
| G—————-C | Active | 2019 | 2 | Director |
Ryan DiGiovanni Houston is known to have the following addresses
- 11152 Westheimer Rd, Houston, TX 77042
- 9103 Dragonwood Trl, Houston, TX 77083
Loan Information
- Loan #: 4841958410
- Loan Size: $12,500
- Jobs Retained: 1
- Loan Approved: February 7, 2021
- Loan Status: Paid in Full or Forgiven
- Lender: Stellar Bank
DGV Investments LLC, located in Houston, Texas, received a Paycheck Protection Loan of $12,500 from Stellar Bank in February 2021.
The Small Business Administration (SBA) categorizes this loan as “Paid in Full,” indicating that it has been either repaid or entirely forgiven based on PPP criteria. The SBA’s last update on the loan’s status was in July 2022.
Note: PPP loan amounts are calculated based on 2.5 times the average monthly payroll expenses for 2019, with a maximum loan amount of $100,000 per employee per year.
Ryan DiGiovanni Houston’s Business Information
DGV Investments LLC
Houston, TX
Business Industry
Lessors of Residential Buildings and Dwellings
NAICS code 531110
Business Owner Demographics
| Race | White |
| Ethnicity | Not Hispanic or Latino |
| Gender | Male Owned |
| Veteran Status | Non-Veteran |
Business Demographics
| Business Age | Existing or more than 2 years old |
| LMI Zone | Y |
| HUBZone | Y |
| Rural / Urban | Urban |
Ryan DiGiovanni Houston: Restrictions on Land Use
What PPP Loan Scams Are Exactly
PPP loan scams involve deceiving the government to obtain funds intended to help businesses during the pandemic. These loans were meant to cover expenses like employee wages, insurance, and utility bills. However, some people and businesses have misused these funds for personal gain instead of using them for legitimate business needs.
The government started investigating PPP loan fraud because some individuals and companies were applying for loans dishonestly.
The PPP offers loans at low interest rates, and in some cases, they can be forgiven entirely if certain conditions are met. This made the program attractive to both legitimate businesses and those looking to exploit it for financial gain.
To prevent fraud, federal agencies are closely monitoring PPP loan applications and investigating suspicious cases.
Rules for the PPP Loan Program
The PPP Loan Program has strict rules regarding the usage of loan funds. The U.S. Small Business Administration provides a detailed list of these rules on its website. Generally, businesses are required to use the loan money for specific purposes, including utilities, bonuses (such as hazard pay and commissions), and payroll costs (including salaries, tips, paid leave, and employee benefits).
What Penalties Apply to PPP Loan Fraud?
Penalties for PPP loan fraud can vary depending on the specific circumstances and federal statutes involved. Generally, PPP loan fraud may be prosecuted under laws related to bank fraud, making false statements on a loan application, lying to the Small Business Administration (SBA), or deceiving federal or state agencies. The penalties for these offenses can include fines of up to $1,000,000 and imprisonment ranging from five to 99 years.
Penalties for Misusing or Squandering PPP Funds
Misusing or wasting PPP funds can lead to both civil and criminal penalties. A single PPP loan fraud case could involve multiple legal violations:
- You could face a prison sentence of up to 20 years.
- Initial charges may include wire fraud, which involves using phone or internet communication to deceive others, violating 18 USC Sec. 1343.
- Bank fraud charges may also be brought, with a maximum prison sentence of 30 years under 18 USC Sec. 1344 for making false claims to financial institutions.
- Making false statements to a financial institution, a federal offense under 18 USC Sec. 1014, carries a maximum prison sentence of 30 years.
- Additionally, engaging in a PPP loan scheme violates 18 USC Sec. 1349, which deals with conspiring to commit fraud. Conspiring with others to break federal laws is illegal, even if no money is involved.
