Carmouche's PPP Loan Windfall
Coastal Lawsuit Attorney John Carmouche is no stranger to getting rich off taxpayers- taking hundreds of thousands of dollars in Paycheck Protection Loans
At the outbreak of the pandemic, many businesses struggled to make ends meet. As lockdowns were implemented in an attempt to slow the spread of COVID-19, commerce slowed down to a stagger, hurting the margins of many small businesses, especially in Louisiana. The Small Business Administration took aim to aid these businesses by implementing Payment Protection Program Loans (PPP Loans), helping many small businesses keep people employed. Trial attorney John Carmouche, like always, made sure to take advantage of this opportunity to get rich with taxpayer funds, just as he's attempting to do with his many lawsuits against Louisiana's oil and gas companies.
Carmouche's law firm, Carmouche and Associates LLC, received two PPP Loans, one for $362,200 dollars and another for $370,352, a whopping $732,552 in total. One of those is still listed as an ongoing loan, meaning it has not been repaid or forgiven. The other has been forgiven- meaning Carmouche has netted at least $362,200 in taxpayer funds from the PPP Loan program.
Carmouche's loans were significantly larger than other Louisiana businesses, who were compensated at an average rate of $56,061. Carmouche also made off better than most lawyers in Louisiana, who's average PPP loan was $77,166. Carmouche & Associates, LLC managed to cash in at a much higher rate than most Louisianan small businesses- more than $675,000 more than the average business in Louisiana, 13 times more than the relief a typical business in Louisiana received.
Of course, while Carmouche was taking advantage of taxpayer financed loans meant to help small businesses make ends meet, he still managed to find the funds to invest in political campaigns, especially the judges who will decide on his next taxpayer funded windfall.
You can read all of our previous stories on Louisiana's job-killing trial-lawyers here.