SCRANTON, LACKAWANNA COUNTY (WBRE/WYOU)— A man from Tioga County is being charged with using $420,000 in COVID-19 relief funds to buy a vacation home according to the U.S. Attorney’s Office for the Middle District of PA.

U.S. Attorney Gerard M. Karam said Nicholas Perkins, age 57, was charged by a federal grand jury for allegedly purchasing a beach-front vacation home on Dauphin Island, Alabama with 90% of the funds he received from the Paycheck Protection Program (PPP).

Court documents show that Perkins’ company, Well-Versed Oilfields LLC, took out $465,000 in PPP loans. In 2020, Perkins asked for loan forgiveness for these funds telling officials that at least 60% of the forgiveness amount was used for payroll costs.

In reality, officials said Perkins spent over 90% of the PPP loans on the vacation property intending it to be used as a secondary residence and rental income source.

Perkins is being charged with wire fraud, bank fraud, unlawful money transactions, and other related charges.

The maximum penalty for this crime is 30 years in prison, a term of supervised release following imprisonment, and a fine.