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Episode 85: PPP Loans, ”Biggest Fraud in a Generation”
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PPP loans were created as a safety net for businesses during the beginning of COVID, promising to cover payroll and other expenses of businesses while the world came to a stop. Who knew that having billions of dollars from the US Government available with little to no vetting could lead to one of the greatest mass fraud schemes in modern history?
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This week's booze of choice: Kirkland Citra Hop Session IPA
Sources
- https://www.nbcnews.com/politics/justice-department/biggest-fraud-generation-looting-covid-relief-program-known-ppp-n1279664
- https://www.nbcnews.com/politics/justice-department/new-covid-fraud-prosecutor-steps-effort-convict-people-stole-billions-rcna19536
- https://www.justice.gov/opa/pr/man-convicted-27-million-ppp-fraud-scheme
- https://en.wikipedia.org/wiki/Paycheck_Protection_Program#Fraud
- https://www.justice.gov/opa/pr/woman-pleads-guilty-438-million-covid-19-relief-fraud-scheme
- https://www.arnoldporter.com/en/general/cares-act-fraud-tracker
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