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Now, one lender may finally face a legal reckoning. Ben Wieder. July 13, 2022 at 4:37 AM. The Paycheck Protection Program was one of the signature federal economic relief measures in the early ...
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 ...
Another fintech company featured in the congressional report, Kabbage, agreed to a settlement in May of up to $120 million with the U.S. Department of Justice in response to allegations that it ...
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 DOJ found that The Bloom Firm used a portion of its PPP loan to pay several employees who were ineligible to receive the funds or did not work for the firm during the covered period of the loan.
The U.S. Attorney’s Office for the Middle District of Pennsylvania is warning the public about a scam involving cryptocurrency and Payroll Protection Program (PPP) fraud.
The Fraud Enforcement and Recovery Act of 2009, or FERA, Pub. L. 111–21 (text) (PDF), S. 386, 123 Stat. 1617, enacted May 20, 2009, is a public law in the United States enacted in 2009. The law enhanced criminal enforcement of federal fraud laws, especially regarding financial institutions, mortgage fraud, and securities fraud or commodities ...
Sheppard was charged with COVID-19 loan relief fraud under the Small Business Administration’s Paycheck Protection Program approved by Congress, which authorized $800 billion in loans through ...