The owner of Long Island's Bayville Adventure Park has pleaded guilty to fraudulently obtaining $3.2 million in federal COVID-19 relief funding and instead of spending it for its intended purpose, pocketed the dough and used it to buy himself a fancy home in Massachusetts, according to the U.S. Attorney’s Office.
At a federal court hearing in Central Islip, Donald Finley of Locust Valley, 61, pleaded guilty to disaster relief fraud and wire fraud, telling the judge that “I am deeply remorseful for my conduct."
Prosecutors say that Finley submitted falsified applications for approximately 30 small business loans to the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan Program (EIDLP) between March 2020 and March 2021, and was subsequently awarded $3.2 million in total.
But instead of using the funds to keep Bayville Adventure Park afloat during the pandemic, Finley was accused of utilizing them to "purchase personal assets and pay personal expenses." Among the things Finley bought with his ill-gotten gains was the aforementioned home, located on the island of Nantucket.
Prosecutors accepted a plea deal from Finley that sees him paying restitution over the amount of $3.2 million, in addition to a $1.25 million fine. He also faces a potential 30 years in prison when he is sentenced on November 8.
He is currently out on a $500,000 bond.