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Those employees, along with an army of contractors, are responsible for overseeing a loan portfolio that currently includes 48,000 PPP loans with an outstanding balance of $1.3 billion and dealing ...
A House committee issued a report accusing financial technology companies – fintechs – of making the fraud possible. ... facilitated most of the PPP fraud, processing more than $5m in loans ...
The PPP program gave loans to nearly 4.9 million small businesses for a total of $521 billion. ... Congressional investigators identified multiple areas of potential waste and fraud in PPP, part ...
The Paycheck Protection Program was one of the signature federal economic relief measures in the early days of the COVID-19 pandemic, providing small businesses loans of up to $10 million that ...
President Trump signs the Paycheck Protection Program and Health Care Enhancement Act (H.R. 266), April 24, 2020. The Paycheck Protection Program (PPP) is a $953-billion business loan program established by the United States federal government during the Trump administration in 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help certain businesses, self ...
The feds have focused their COVID-19 loan fraud probe on BSO deputies and others in the agency. ... said that the investigation began in late 2021 with a probe of a single deputy and evidence from ...
According to the U.S. Attorney’s Office in Miami, federal prosecutors have filed about 150 PPP loan fraud cases in South Florida since Congress approved the CARES Act program in spring 2020 to ...
Democratic members of the House subcommittee overseeing the coronavirus response released a report on Tuesday, flagging billions of dollars in questionable PPP loans and a "high risk" for fraud ...