Is this a government operation or what?
Only 17% fraud? LOL I don’t believe any number that is below at least 50% for COVID fraud.
I thought “if you take out a loan, you pay it back” was the new mantra? Or is that only with student loans and not PPP loans to millionaires that get forgiven?
Well to be fair it did kind of beg for fraud from the gitgo. 😏
Is that the program being referenced in attorney “help-your-business-collect” ads on radio and TV? Something about employee retention?
Well, some people really need 6 condos in Hawaii.
The amazing thing, to me, is how quickly the fraudsters were able to launch their schemes. Admittedly, the rules were loosey-goosey like nothing we’ve ever seen, but the fraudsters got onto their schemes like white on rice.
Sounds like our Ukraine expenditures.
A lot of people have no idea the amount of money handed out like candy in the PPP program. My previous employer got $5 million. They had virtually no employees. The only employees are family members, everybody else is contract. I would bet anything the contract companies got a boatload of money, too. The whole idea of shutting down the economy and handing out printed money was psychotic to me.
11.5M Loans Approved
964,843 Organizations approved for loans between $150,000 and $10 million
$790B Amount Approved
$757B Amount Forgiven
790 BILLION DOLLARS!
You can look up a company here:
https://www.federalpay.org/paycheck-protection-program
Who could have predicted this?
Oh, what party predominates in the fraud?
“actionable leads,” while it has already prosecuted dozens,
WOW actionable leads and dozens. Im sure it was selective and will be