elev in the News
elev in the News

December 1, 2022

elev8 Advisors Group has released an immediate response to a report published today by the Senate Subcommittee tasked with investigating alleged wrong-doings by those that participated in the PPP program of the Cares Act. Further response from the company is to come in short order. Our response however to the Senate subcommittee is published below.

“The Subcommittee’s report is just the latest example of a congressional committee having a conclusion first and then manipulating the facts and evidence to support what it decided before it even looked for the truth. It is now obvious with the release of this report that the Subcommittee’s process misled elev8 and its owners, who were led to believe that their forthright responses would be met with an accurate reporting of the facts and an opportunity to respond to any report before it was released to media. This report represents an unfortunate politicization of an important function of our government. Congress’ responsibilities to the constituents they were elected to represent does not include engineering misleading and disparaging headlines for political gains. elev8 and Adam and Kristen Spencer, unlike others, fully cooperated with the Subcommittee, providing over 800 pages of documents and answering every one of their approximately one-hundred questions and did so with no request for anonymity. Despite the Subcommittee’s unfair and misleading tactics, elev8 will respond quickly with a comprehensive rebuttal showing that it did nothing wrong, while doing all it could to prevent fraud in the PPP program, including being at the forefront by reporting any possible fraud to appropriate entities through well trained employees and systems that they helped enable to do the work the company was assigned to do. elev8 did not engage in any self-dealing and their own loans were completely appropriate and would pass muster in any objective review.”

elev8 Advisors Group Leadership Team

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