The Department of Justice filed a civil fraud suit against Michael Shabsels and his companies, Simad Holdings, Damis Holdings and 26 companies, alleging they improperly obtained over $13 million in Paycheck Protection Program funds. In the lawsuit filed in White Plains federal court on Aug. 24, prosecutors allege Michael Shabsels concealed the web of his companies from the Small Business Administration.  Michael and his brother David led Simad Holdings, which controlled 30 popular U.S. summer camps, until the company collapsed in June and filed for bankruptcy. Under the PPP program, the government provided forgivable loans to businesses impacted by the […]

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