The Philadelphia Inquirer Quoted Braden Perry in $50M Taxpayer-backed Coronavirus Loan Article
Braden Perry, among other experts, was quoted in The Philadelphia Inquirer on the $50M taxpayer-backed coronavirus loan to Poconos casino.
The Scranton-area bank directed by Louis A. DeNaples recently handed out the biggest loan yet for $50 million. This taxpayer-backed program was created to help mid-sized businesses during the coronavirus pandemic.
Mount Airy Casino Resort was the recipient of this loan, owned by trusts for DeNaples’ children and grandchildren. To resolve charges that he had concealed his ties to organized crime, DeNaples had to relinquish his ownership.
“If you see a $50 million loan of your money going to an insider or a family member of an insider, it certainly raises some concerns,” said Perry, who formerly tried cases for a federal financial regulatory agency.
To read this article in full: https://www.inquirer.com/business/main-street-loan-insider-denaples-mount-airy-federal-reserve-coronavirus-20200831.html
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Kennyhertz Perry integrates broad regulatory expertise, including compliance and enforcement, with the transactional practices to which that expertise is critical. We are called upon by businesses who need help navigating current and future regulatory challenges stemming from the global financial crisis. To assist our clients in understanding the issues that will affect their industries, entities and transactions, we understand the impact of regulations and requirements of both The Dodd-Frank Wall Street Reform and Consumer Protection Act and a wide variety of U.S. and foreign regulatory reforms targeting investment business and market structures, alternative investment fund managers, private equity and others, central clearing and exchange-trading of derivatives, market abuse and insider dealing, capital regimes, and commodity derivatives.
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Kennyhertz Perry, LLC is a business and litigation law firm representing clients in highly regulated industries. The firm was founded by two veteran Kansas City attorneys, John Kennyhertz and Braden Perry. To learn more about the firm, visit kennyhertzperry.com.
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