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luxury Chicago steakhouse, Maple & Ash, is accused of misusing federal funds meant for employee salaries during the COVID pandemic. According to a lawsuit filed in Cook County Circuit Court, the owners allegedly tapped $7.6 million from the Small Business Paycheck Protection Program for personal expenses, including a $2 million payment on a Learjet.
The suit claims that Maple Hospitality Group, the company behind Maple & Ash, used the funds "fraudulently" and that none of the money was actually used to pay employees. The restaurant's owners, Jerald Lasky and his brother James, have denied the allegations.
Maple & Ash is one of the nation's highest-grossing restaurants, with over $35 million in revenue annually. However, investors who helped fund the restaurant claim that the company also misused profits to fund other restaurant brands owned by the Laskys. The investors allege that they were retaliated against for filing the lawsuit and had their interests in the company dissolved.
The case has been ongoing for three years, with James Lasky facing sanctions from the judge for failing to comply with court orders. The lawyer for the investors hopes to take the case to trial early next year. Meanwhile, Maple Hospitality Group continues to expand its operations, with a new restaurant opening in Miami and another slated for New York City later this year.
