PPP and other loan fraud
rickmacrodong
Are they going to go after everyone who obtained fraudulent ppp loans or other pandemic related assistance?
Some people say there’s too many applicants and people to go after, some say the government will catch all the fraudsters but moves slowly and will take time.
Some people abused these programs like claiming their company had 10 employees when it actually had no employees. Exaggerating what was spent on payroll to try to qualify for more forgiveness.
I also heard there was some way the PUA funds were being scammed. I’m not sure how but I remember people were quitting their jobs since PUA was paying like $3600 a month for nothing. Basically the equivalent of $22.50 an hour in a 40 hour work week. Retail employees were quitting all over for the PUA.
Some people say there’s too many applicants and people to go after, some say the government will catch all the fraudsters but moves slowly and will take time.
Some people abused these programs like claiming their company had 10 employees when it actually had no employees. Exaggerating what was spent on payroll to try to qualify for more forgiveness.
I also heard there was some way the PUA funds were being scammed. I’m not sure how but I remember people were quitting their jobs since PUA was paying like $3600 a month for nothing. Basically the equivalent of $22.50 an hour in a 40 hour work week. Retail employees were quitting all over for the PUA.
7 comments
BigThirdEye is just cacaplop trying to swamp these forums with repetitive, stupid questions, either via his own threads or crashing other threads.
But, as always, take a look at his posting history and judge for yourself.
If engaging with his inane posts is fun for you, then go for it.
Otherwise, don't think you're answering sincere questions.
~ Call.Me.Ishmael
~ April 29, 2022
“In this world, shipmates, sin that pays its way can travel freely, and without a passport; whereas Virtue, if a pauper, is stopped at all frontiers."
~Father Mapple via Herman Melville's "Moby Dick”.
Did you heard about these:
“Over 25 PPP loans worth more than $3.65 million were given to businesses with addresses at Trump and Kushner real estate properties, paying rent to those owners. Fifteen of the businesses self-reported that they only kept one job, zero jobs or did not report a number at all.
The loans to businesses located at Trump and Kushner properties included a $2,164,543 loan to the Triomphe Restaurant Corp., at the Trump International Hotel & Tower in New York City. The company reported the money didn’t go to keeping any jobs. It later closed.
A company called LB City Inc, which is located at Kushner’s Bungalow Hotel in Long Branch, New Jersey, received a loan for $505,552.50 that it used to keep 155 jobs.
Two tenants at 725 5th Avenue, Trump Tower, received more than $100,000 and kept only three jobs.
Four tenants at the Kushner-owned 666 5th Avenue combined received more than $204,000, and retained only six jobs.”
PPP is a little different because the rules of the program allowed abuse.
Some people claimed to have employees, or exaggerated the number of employees.