Corporate Group with Restaurants in NYC, Miami, and Las Vegas Strip Agree to $3M Settlement Over Loan Violations

A Las Vegas Strip restaurant and others in New York City and Miami under the same brand have agreed to a multimillion-dollar settlement related to abuses of a COVID-era loan program.

Zuma Las Vegas, LLC, located at Cosmopolitan of Las Vegas, is part of a corporate group and, as such, violated limits established for PPP loans, according to a settlement agreement.

Azumi, Zuma Las Vegas, Zuma NYC and Zuma Japanese Restaurant Miami, Inko Nito Garey St. and Beach Chu Hallandale were determined to be a corporate group, despite each being established as a limited liability company (LLC). Each of the LLCs is either fully or partially owned by Azumi Limited, according to the settlement.

Read more at 8 News Now