You Searched For "ppp fraud" and got 20 results
Sort By:
1 min read
A former NFL player was sentenced to over 3 years in prison for getting a fraudulent $1.2 million PPP loan
Former NFL player Joshua Bellamy falsified documents to get the loan for his company Drip Entertain…
Sarah Al-Arshani
2 mins read
A Rhode Island man posed as a lawyer to scam inmates, then blew their money on marijuana and gambling while awaiting sentencing for defrauding the government out of PPP funds
Michael C. Moller was sentenced to nearly 7 years in prison on Tuesday for defrauding $699,251 from…
Ashley Collman
1 min read
Texas man sentenced to 9 years for fraudulently obtaining $1.6 million in PPP funds and using it to buy a Lamborghini and a Rolex
Lee Price III, 30, was charged with wire fraud and money laundering, the DOJ said. He was sentenced…
Bill Bostock
3 mins read
Congress opens investigation into BlueVine and Kabbage after reports of PPP fraud
While fintechs only processed 15% of PPP loans, 75% of loans tied to fraud were funded through thes…
Shannen Balogh
2 mins read
'Deely Nuts,' 'Beefy King,' and other fake businesses reportedly got $7 million in COVID-19 PPP loans through one lender
Non-existent farms, such as "Ritter Wheat Club" and "Deely Nuts," each received the maximum loan of…
Anna Cooban
2 mins read
A man was arrested after allegedly spending $5 million in stolen COVID-19 relief on Ferrari, Bentley, and Lamborghini sports cars
The man allegedly used falsified documents to apply for the loans. The sports cars have since been …
Kelsey Vlamis
2 mins read
NFL receiver Josh Bellamy has been charged in a $24 million fraud scheme where he's accused of spending coronavirus relief money on jewelry and a casino trip
NFL free agent Josh Bellamy, who was released from the New York Jets on Tuesday, was charged in a $…
Kelly McLaughlin
3 mins read
Tens of thousands of PPP loans at high risk for 'fraud, waste, and abuse,' House Democrats say
More than $1 billion in relief funds were made to firms receiving multiple loans, the group said. T…
Ben Winck
2 mins read
NASA exec convicted of fraud for using almost $300,000 in COVID relief to pay for a $6,450 French bulldog, a swimming pool and a Disney membership
A NASA executive on Thursday was sentenced to 18 months for taking more than $285,000 in COVID-19 r…
Kevin Shalvey
2 mins read
A 'Love & Hip Hop: Atlanta' star was arrested on charges of fraud for PPP loan under the name 'Flame Trucking'
Maurice Fayne allegedly spent $1.5 million of PPP loan funds on jewelry including a Rolex President…
Sarah Al-Arshani
3 mins read
A California man got nearly $9 million in coronavirus relief loans through fraud and spent 'hundreds of thousands' on gambling, prosecutors say
Prosecutors are going after people scamming the Payment Protection Program, which is designed to gi…
Inyoung Choi
4 mins read
Fintechs helped Black-owned small businesses get access to PPP loans during the pandemic more than banks did. It's weird.
A working paper finds automation may have helped Black businesses's access to PPP loans, but AI als…
Madison Hoff
2 mins read
Government watchdog finds 'strong indicators of widespread fraud' in the $60 billion small business bailout program
The Small Business Administration's Inspector General said the suspected fraudulent transactions to…
Graham Rapier
2 mins read
Banks filed a record number of reports flagging suspected business-loan fraud at the same time they disbursed PPP funds that Republicans called a 'resounding success'
A new report indicates the Treasury Department in July received its most claims of suspicious activ…
Oma Seddiq
1 min read
A Mississippi man is accused of spending PPP loan money on a $100,000 Tesla and a million-dollar house
Christopher Paul Lick received $6 million in PPP loans by lying to banks about his businesses' expe…
Kate Duffy
2 mins read
Biden is changing PPP rules. For 2 weeks, only businesses with fewer than 20 employees can claim pandemic relief loans.
Biden's changes to the PPP loan rules are designed to ensure that smaller companies aren't left beh…
Kate Duffy,Reuters
2 mins read
More than half of the money from the Paycheck Protection Program went to just 5% of recipients
The federally funded program was meant to help small businesses keep paying employees, but new data…
Barbara Smith
2 mins read
Businesses at properties owned by the Trump Organization and Kushner Cos. benefited from over 25 PPP loans worth $3.65 million, a new report says
The Kushner Cos. general counsel said the NBC News analysis was "completely untrue and amounted to …
Oma Seddiq
2 mins read
A man attempted to steal $6 million in PPP loans after submitting applications for companies with names from 'Game of Thrones': report
The man received more than $1.7 million in benefits after being approved for two applications, acco…
Amanda Perelli
4 mins read
JPMorgan Chase is looking into customers' misuse of PPP loans — and the role the bank's own employees played
Some customers may have abused loans they received earlier this year through the federal government…