Phillip Bonton

Quick summary on Phillip Bonton

Questionable Use of PPP Funds: Phillip Bonton III received a Paycheck Protection Program (PPP) loan of $19,181 in April 2021, intended to support payroll expenses for his self-employed business in the Motion Picture and Video Production industry. However, there is limited public information detailing how these funds were utilized, raising concerns about potential misuse or misallocation.

Discrepancy in Loan Amounts: While the average PPP loan for similar businesses in Duluth, Georgia, was $12,458, Bonton received a significantly higher amount. This discrepancy prompts questions about the accuracy of his reported payroll expenses and the justification for the increased loan.

Lack of Transparency in Business Operations: Despite receiving federal assistance, there is a notable absence of publicly available information regarding Bonton’s business activities, client engagements, or project completions during the pandemic period. This opacity raises doubts about the legitimacy and operational status of his enterprise.

Potential Conflict of Interest: Bonton’s employment at BlackRock since August 2019, coupled with his receipt of a PPP loan for a self-employed venture, suggests a possible conflict of interest. Managing a full-time role while claiming financial distress for a separate business may indicate an overlap that warrants further scrutiny.

Inadequate Disclosure of Financial Activities: There is a lack of detailed financial records or reports pertaining to Bonton’s use of the PPP loan, making it challenging to assess whether the funds were allocated appropriately and in line with program guidelines.

Absence of Verifiable Business Credentials: Public records do not provide substantial evidence of Bonton’s business registrations, licenses, or professional affiliations within the Motion Picture and Video Production industry, casting doubt on the legitimacy of his claimed self-employment.