Former MBE Capital Partners, LLC CEO Sentenced to 4.5 Years in Prison

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behind barsRafael Martinez, the former CEO of MBE Capital Partners, LLC, is going to prison. The company was a PPP lender during covid but it was alleged it should not have been!

In March 2022, the DOJ said that “Martinez used false representations and documents to fraudulently obtain the approval of the SBA for his company, MBE Capital Partners, LLC, to be a non-bank lender through the PPP. Martinez then used that approval to obtain approximately $932 million in capital to issue PPP loans and earn over approximately $71 million in lender fees.”

Martinez then spent those funds on himself, purchasing a villa in the Dominican Republic, a Ferrari, and private jets.

He pled guilty to conspiracy to commit wire fraud exactly a year later. Last week he was sentenced to four and a half years in prison.

Last modified: July 31, 2023

Category: Legal Briefs

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