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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 ...
The watchdog overseeing agencies under Gov. J.B. Pritzker has referred 177 cases to law enforcement in which there was “reasonable cause to believe” a state worker “improperly obtained” a ...
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 ...
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 ...
From the start, the agency’s Office of Inspector General was called on to investigate cases of suspected fraud, receiving more than 54,000 complaints to the PPP fraud hotline by December 2021 ...
Acosta was the last of 17 BSO deputies — all arrested last fall on PPP and other loan fraud charges — to go to trial or cut a plea deal. Acosta, 38, now faces prison time, like one other BSO ...
Twelve of the original 17 accused of defrauding the PPP loan program have pleaded guilty since their arrests in October. ... He said that the investigation began in late 2021 with a probe of a ...