paycheck protection program

According to a criminal information filed Monday in U.S. District Court in Chicago, Wright obtained two PPP loans totaling $41,662 and intended to use the funds for personal benefit. #police #fraud

The indictment alleges that the defendants defrauded lenders and the U.S. Small Business Administration of millions of dollars in PPP loans and EIDL funds. #fraud

“Mark Ethan Jermain fraudulently applied for and received PPP loans for businesses that didn’t exist anywhere but on paper. Furthermore, he used the identity of a former business partner, unbeknownst to the partner, to defraud the taxpayer funded program out of nearly three quarters of a million dollars,” said FBI St. Louis Special Agent in Charge Ashley Johnson. #loan

...they intended to use the loan funds for their personal use and benefit... #covid #fraud

An online lending platform called Kabbage sent 378 pandemic loans worth $7 million to fake companies (mostly farms) with names like “Deely Nuts” and “Beefy King.”