Casino closes after owner squanders COVID-19 funds

Andy Sandborn, a casino owner and former state legislator, is charged with misusing public funds intended for COVID-19 assistance. However, Sandborn and his attorneys vehemently refute the allegations stating that the case illustrates how the state has built its case without solid evidence.

Examiner Michael King’s investigation of Sandborn’s COVID fund expenses did not directly support the allegations, but the New Hampshire State Lottery Commission thought about canceling Sandborn’s gaming license anyway.

Sandborn is charged with deceiving the intended use of government funds and unlawfully obtaining them. King and the commission argue that King paid himself enormous quantities of money without maintaining the necessary records, which led to public mistrust and the regulator’s decision to temporarily close the casino.

The hotel may return in six months despite the temporary closure, but only with new ownership. This implies that Sandborn would have to divest the business. Given that they pertain to a $844,000 Small Business Administration award, the charges are grave.

Investigators claim that Sandborn falsely represented himself as a casino corporation to get the loan, which was not eligible at the time, by withholding his ownership of a casino company from the application procedure.

Sandborn and the Concord venue are said to have obtained financing and spent a minimum of $181,000 on two Porsche racing cars, in addition to spending an additional $80,000 on a Ferrari for his spouse. In addition, he paid $183,000 as “rent” at the Concord location.

Interestingly, the funds were used on opulent products (cars) that were not produced in the US, violating the terms of the loan and future expenses.

King and the commission have decided to put a temporary stop to events at the location, allowing Sandborn to sell his business in six months. He may or might not keep opposing the commission’s findings.

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Original story by: Gambling News