FORT MYERS, Fla. — A Florida man used payroll protection program loan money to buy a nearly $700,000 boat, federal prosecutors said.

Casey Crowther, 35, received more than $2 million from the federal loan program set up during the coronavirus pandemic to protect businesses and their employees on behalf of his company Target Roofing and Sheet Metal, U.S. Attorney Maria Chapa Lopez said.

Within days of getting the loan money, Crowther wired $689,417 to a Sarasota company to buy a 40-foot 2020 Invincible catamaran, which he registered in his name, WINK reported.

Qualifying businesses were to use the low interest loan for business-related reasons including to retain employees and maintain payroll or make mortgage or utility payments.

Crowther is charged with making a false statement to a lending institution. He could face 30 years in federal prison if convicted. He was released on a $100,000 bond, WINK reported.

Cox Media Group