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California man arrested for allegedly stealing $9 million in COVID-19 relief funds, spent money on Vegas gambling sprees

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Los Angeles man faces up to 30 years in prison for spending PPP loans on risky stock bets and gambling trips

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A California man was arrested Thursday for allegedly stealing about $9 million in coronavirus relief funds. He reportedly spent some portion of the proceeds on extravagant gambling sprees and risky stock market investments.

Andrew Marnell, a resident of the Beverly Grove neighborhood of Los Angeles, is accused of submitting several fraudulent loan applications to the federal government. Marnell, 40, was granted at least $9 million in Paycheck Protection Program loans, a number that could rise as the investigation progresses.

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