Montana steakhouse owner admits using $75,000 in COVID-19 relief money to buy vintage cars

He took the highway to jail.

A Montana steakhouse owner has pleaded guilty to misusing COVID-19 relief money he received for his restaurant to buy several vintage cars — including a 1916 Studebaker.

Prosecutors say 70-year-old Michael Bolte, who runs the Feedlot Steakhouse in Shepherd, Montana, had received a $75,000 disaster relief loan from the Small Business Administration in May 2020, but used the cash to buy four classic automobiles instead.

SBA disaster loans are only supposed to be used as working capital for a business.