The tech executive Mukund Mohan is said to have applied for some small business loans worth over $5.5 million in the United States and allegedly transferred some of the money to the Robinhood investment app. According to the report, Mohan sought 8 loans for his six companies.

The remarks made by Mohan’s company are contradictory as according to reports Mohan claims to have dozens of staff and is paying them over $2.3 billion over the period. However, the US attorney in Washington claims that the company was purchased in May itself and it does not employ any staff yet. Also, the information provided by Robinhood markets states that Mohan has transferred $2,31,000 to the trading app.

No clear information has been obtained from the company and its employees yet so we are still waiting for some concrete words from the company on the whole scenario.