Ryan DiGiovanni Houston: A Fraudster? (2024)

About Ryan DiGiovanni Houston

Ryan DiGiovanni Houston is linked to six companies, which were set up over six years, with the newest one founded in December 2015, three years ago. Five of these companies are still active, while the sixth is currently inactive.

There are two loans totalling $25,205 were given to companies in Houston, TX under the name “DGV Investments LLC”. This could be because the same company received both first and second-draw loans, or it could be due to similar company names, mistakes in applying, or even fraud.

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

1. 11152 Westheimer Rd, Houston, TX 77042
2. 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.