BUFFALO, N.Y. (WKBW) — The U.S. Attorney's Office says that 72-year-old John L. Hutchins, owner of Rapids Theatre, was sentenced to 14 months in prison for conspiracy to commit wire fraud and bank fraud.
According to the U.S. Attorney's Office, between March 2020 and March 2024, Hutchins conspired with 45-year-old Roberto Soliman to file fraudulent loan applications through the Economic Injury Disaster Loan (EIDL), the Paycheck Protection Program (PPP) and the Shuttered Venue Operators Grant (SVOG). The loans were designed at the time to provide emergency financial assistance through the Coronavirus Aid, Relief and Economic Security (CARES Act).
Hutchins and Soliman applied for loans under the following companies:
• Rapids Theatre Niagara Falls, USA, Inc.
• 1711 Main, LLC
• Bear Creek Entertainment, LLC
• Hutch Enterprises, LLC
• The Hutchins Agency, LLC
• CWE Entertainment, Corp. (owned by Soliman)
Between March and August 2020, Hutchins and Soliman received the following:
- Economic Injury Disaster Loans totaling $779,500.00
- PPP loans totaling $115,978
- SVOG loans totaling $989,905.05
Hutchins and Soliman submitted false figures for businesses on the loan applications.
On Thursday, Hutchins and Soliman were sentenced. Hutchins was sentenced to 14 months in prison, while Soliman was sentenced to 20 months. Both are ordered to pay full restitution to the Small Business Administration and the victim banks.
