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Those employees, along with an army of contractors, are responsible for overseeing a loan portfolio that currently includes 48,000 PPP loans with an outstanding balance of $1.3 billion and dealing ...
July 13, 2022 at 7:37 AM. ... Now, thanks to an obscure filing in one of South Florida’s many PPP fraud cases, it has been revealed that one of the biggest lenders in the program’s first year ...
Some of the most prolific online lenders in the federal Paycheck Protection Program had remarkably lax fraud protection controls even as they approved billions of dollars worth of loans in the ...
President Trump signs the Paycheck Protection Program and Health Care Enhancement Act (H.R. 266), April 24, 2020. The Paycheck Protection Program (PPP) is a $953-billion business loan program established by the United States federal government during the Trump administration in 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help certain businesses, self ...
The only other BSO employee convicted of PPP loan fraud to be sent to prison: Stephanie D. Smith. The former BSO deputy school resource officer was found guilty in March of wire fraud charges for ...
The company became a favorite conduit for PPP loans for a drug gang in the Orlando area called the Army Gang whose alleged members were arrested as part of the Metropolitan Bureau of Investigation ...
The PPP program gave loans to nearly 4.9 million small businesses for a total of $521 billion. ... Congressional investigators identified multiple areas of potential waste and fraud in PPP, part ...
Edward Davenport, self-styled as a "Lord"; [17] from 2005 to 2009 was the "ringmaster" of a series of advance-fee fraud schemes for (non-existent) loans that defrauded dozens of individuals out of millions of pounds, [18] while costing his clients further hundreds of millions in losses when they signed development property commitments backed by ...