Doug Logan, the CEO of Cyber Ninjas, finished paying off a $423,000 mortgage on his Florida home on the same day the company's emergency pandemic relief loan was forgiven by the federal government, according to a report in the Sarasota Daily-Herald.
Florida-based Cyber Ninjas infamously conducted the partisan audit of the 2020 presidential election in Maricopa County, Arizona. Despite having no prior experience conducting such an audit, the company was paid $150,000 by the Arizona Senate.
Four years earlier, Logan purchased a $445,000 home on four acres in Sarasota in 2017, taking out a loan of $422,750, according to the Sarasota County Property Appraiser's Office.
Logan, who has 12 children, managed to pay off the loan in only 43 months. Herald-Tribune columnist Chris Anderson notes that "in fairness, people pay off houses all the time."
"There is, however, something curious about Logan's enviable financial triumph, especially considering the Cyber Ninjas claim to have lost $2.125 million conducting the Arizona audit," Anderson writes, adding that in April 2020, Cyber Ninjas received a $99,081 pandemic relief loan from the Small Business Administration, through the Paycheck Protection Program (PPP).
On its application for the loan, Cyber Ninjas indicated that the money would be used entirely for payroll. On Jan. 25, the Cyber Ninjas loan was forgiven by the SBA, meaning the company wouldn't have to pay back the federal government.
"That was the same date the mortgage on Logan's house was satisfied and the document notarized, according to Sarasota County records," Anderson writes. "Now to be clear: I'm not saying Logan received the PPP loan for his business payroll, waited until it was forgiven, and then used the money for something personal. I have no proof of the sort. I am just pointing out that, according to records, the two dates match. And the father of 12 children paid off a $422,750 mortgage in less than four years."
Logan could not be reached for comment.