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Facing numerous federal investigations into its PPP lending practices, Kabbage or, to be more accurate, the shell of what was once Kabbage, filed for bankruptcy this week. Kabbage was acquired by ...
Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud Hotline at 866-720-5721 or ...
The U.S. Attorney’s Office for the Middle District of Pennsylvania is warning the public about a scam involving cryptocurrency and Payroll Protection Program (PPP) fraud.
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 ...
Potential fraud isn’t the only issue with Kabbage’s PPP performance. The Herald previously reported on the struggles to obtain forgiveness faced by many small business owners who obtained ...
The scam using doll faces to create false IDs made up a small part of the estimated $80bn in fraud connected to the Paycheck Protection Program (PPP), according to The Messenger.
Of that amount, $60 billion is for PPP loans made by small banks, small credit unions, and community financial institutions. [19] [20] Appropriates an additional $10 billion for emergency Economic Injury Disaster Loans. [21] [20] Expands eligibility for emergency Economic Injury Disaster Loans to farms and agricultural-related businesses. [22] [20]
The PPP program gave loans to nearly 4.9 million small businesses for a total of $521 billion. Congressional investigation finds over $1 billion in PPP fraud Skip to main content