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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 ...
The Texas investigation is significant, Richards said, because the PPP program required lenders, even those that like Kabbage were not banks, to establish robust anti-money laundering and customer ...
Court papers say that from February 2021 through February 2022, McKeon submitted fraudulent PPP loan and forgiveness applications for $900,000 on behalf of a New Jersey company, B & T Builders of ...
The only other BSO employee convicted of PPP loan fraud to be sent to prison: Stephanie D. Smith. The former BSO deputy school resource officer was found guilty in March of wire fraud charges for ...
Congress found that Womply was one of two firms that facilitated most of the PPP fraud, processing more than $5m in loans for its own purposes. ... and a Congressional investigation into PPP fraud ...
On 18 August 2021- VanPelt (aka Corkrum) [6] [5] to committing a more than US$6 million fraud in USA, specifically involving defrauding of the USA's Paycheck Protection Program (PPP). The case has been investigated by the Federal Bureau of Investigation ( FBI ) and the Federal Housing Finance Agency Office of Inspector General.
Smith, 54, is the only one of the BSO deputies charged with PPP loan fraud or similar offenses to be sent to prison so far. In 2021, Smith applied for loans as the registered agent for Childrens ...
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 ...