The Strand, the iconic New York City bookstore, agreed to pay nearly $1.5 million in a civil settlement for accepting a Covid government loan that was off-limits because the store is owned by the wife of Oregon Democratic Sen. Ron Wyden, according to the U.S. Attorney's Office in Washington, D.C.
The Strand applied for the $932,350 loan in February 2021 from the Paycheck Protection Program administered by the Small Business Administration, U.S. Attorney Jeanine Pirro's office said Tuesday.
Store owner Nancy Bass Wyden certified on the loan application that "the spouse of a Member of Congress does not directly or indirectly hold a controlling interest in the applicant," Pirro's office said.
"Ms. Wyden's certification was knowingly and materially false and Strand was not eligible for the second draw loan it received," the office said.
The Strand will pay $1,482,560 to settle the case. There was no determination of liability by the store, Pirro's office said.