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To report PPP loan fraud and economic injury disaster loan fraud, you can do it the following ways: Call the National Center for Disaster Fraud Hotline: 1-866-720-5721. Fill the complaint form on the DOJ website. File a complaint with the SBA Inspector General Office. FYI, yes you can receive a payout for information.
Reporting PPP Fraud. The Paycheck Protection Program was created to help small businesses keep workers employed during the COVID-19 pandemic, offering bank-mediated, SBA-funded loans that may be forgiven later. Some unscrupulous companies have applied for PPP loans even though they don’t qualify, often by making false certifications in their ...
ADMIN MOD. Busting PPP fraud may pay you millions, and it's easier than you think. A couple days ago I posted about a fraudulent Paycheck Protection Program (PPP) loan that I discovered and reported to the SBA OIG. Since that post, I have discovered and reported 50 more likely fraudulent loans. My motivation in doing this is to help the ...
Potential PPP loan fraud? PPP. Looking through PPPloans for my area and noticed that my former employer (a real scumbag) (6 locations totaling 40-50 employees) had overstated the FTE count on multiple PPP loans. He had applied for and had forgiven 100% on 4 loans. He stated that the “management llc” employed 50 people, the actual “DBA ...
Heavens forbid if there is a fraud alert on file with the IRS - that is a manual process. Of about $670 billion in PPP loans it is estimated that a little under $80 billion was done fraudulently. That was a high amount but that was done so that small businesses that needed it to stay afloat could get it.
The PPP was figured as 2.5x monthly salary expenses for the initial loan amount. Forgiveness required 60% of the loan be used on paying employees (including benefits), the other 40% could be used for paying various operating expenses (rent, utilities, equipment leases, etc.), and there were certain job retention criteria (you had to maintain ...
NTA. Yes, the guy is a slime ball, but be smart and don't tell anyone you reported him for PPP loan fraud. Zero upside in telling anyone you did that. You should talk to your sister about her bf's legal issues to make sure she isn't being used by the bf to hide assets.
Comission based employees are included in payroll for ppp loan forgiveness. They are required to have 60% of the loan to go to payroll, which seems to qualify based on the information you have given. Our commission employees only got paid for sales they completed. They receive no other compensation.
You may report fraud, waste, mismanagement, or misconduct involving SBA programs or employees either online or by calling the Office of the Inspector General (OIG) at 800-767-0385. You may choose to remain anonymous. However, in that case, the SBA OIG will not be able to contact you for more information regarding your complaint.
The $20,833 is 2.5 months of pay at an annualized rate of $100,000 and was the maximum loan amount available to a single member LLC. I know of one girl who fully made up a company claimed she was a sole proprietor and got $18,500. Said she paid her self the payroll and got it forgiven.