Millions in Paycheck Protection Program funds were fraudulently borrowed from the Small Business Administration program during the pandemic.
A U.S. attorney announced an agreement in which the Carson Tahoe Health System agreed to pay over $8 million to settle allegations of ineligibility for Paycheck Protection Program (PPP) loans. The entity was said to exceed the size limitations for loan eligibility.
Two brothers from Arizona recently pled guilty to defrauding the Small Business Administration of more than $100 million under PPP. A theatre owner in New York also pled guilty to over $1 million in covid loan fraud.
Former Representative Cori Bush’s husband was recently indicted in federal court for misusing PPP funding for his personal benefit. A woman who was a candidate for Baltimore City Council was recently convicted of similar misuse of over $1 million in Covid relief.
The Paycheck Protection Program under the Coronavirus Aid, Relief, and Economic Security Act was intended to assist small businesses facing economic challenges during the Covid shutdown in the spring of 2020.
As the Lord Leads, Pray with Us…
- For U.S. attorneys as they seek to recoup funds fraudulently obtained or misused under the Paycheck Protection Program.
- For wisdom for federal judges as they hear cases regarding the Small Business Administration loans.
Sources: Baltimore Sun, MSN, KTVZ
