In a recent decision in San Antonio, Texas, a federal jury convicted the owner of a string of construction companies for a massive attempt to defraud the Small Business Administration. This taxpayer-funded initiative offers loans, grants, contracts, and other aid and information to American small businesses. Its efforts are directed toward strengthening the overall economy through a focus on small business initiatives.
This particular Texas fraud attempt targeted the Service-Disabled Veteran-Owned Small Business initiative, an area of Small Business Administration funding. Construction owner Michael Angelo Padron, along with co-conspirators Michael Wibracht and Ruben Villarreal, attempted to divert millions away from funds earmarked for business owners who were wounded in the line of duty. This kind of fraud is particularly egregious and shows a contempt for those who have given immense sacrifices to protect this country.
Michael Angelo Padron and his business partner, Michael Wibracht, were found guilty of conspiring to install Ruben Villarreal, a genuine service-disabled veteran, as the owner in appearance only of a construction company. In actuality, the company was owned and controlled by Padron and Wibracht’s larger construction conglomerate. According to documents, Padron and Wibracht exercised financial control over Villarreal’s operations, which disqualified them from receiving Small Business...
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