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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 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 ...
In a separate case, Abad allegedly received more than $41,000 in two PPP loans in 2021 from a fictitious baked-goods business he ran from his home. He also claimed he earned $100,000 in annual ...
The Justice Department has charged 57 people, including "coordinated criminal rings," who tried to steal more than $157 million from the Paycheck Protection Program.
Since its passage, South Florida has been a hotbed of PPP loan fraud committed by business people and others charged with stealing millions from the government program by falsifying loan ...
Edward Davenport, self-styled as a "Lord"; [17] from 2005 to 2009 was the "ringmaster" of a series of advance-fee fraud schemes for (non-existent) loans that defrauded dozens of individuals out of millions of pounds, [18] while costing his clients further hundreds of millions in losses when they signed development property commitments backed by ...
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 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 ...