The post Report: Mauricio Umansky Under Fire in $3.5 Million PPP Loans Lawsuit appeared first on Reality Tea. Apple agreed to ...

A paper published by UT Austin McCombs School of Business researchers in 2022 first identified that fintech firms like Blueacorn may be facilitating PPP fraud. Congress released a report after ...

has been charged with eight counts of wire fraud. Federal prosecutors said the two falsified loan applications to obtain Paycheck Protection Program (PPP) and Economic Injury Disaster Loan Program ...

Perhaps the most damning detail in the POGO report is the fact ... Why did the PPP program fail to anticipate or respond to widespread fraud? Did he order the mass clearance of the flagged loans?

Quickly, PPP loans led to “unprecedented fraud levels,” according to the SBA inspector general. Applicants self-certified their small business status and income. The OEIG is investigating only ...

Court documents stated that between April and July 2020, Hebert submitted 12 fraudulent PPP loan applications for seven companies to five different banks in an attempt to collect more than the $3. ...

The wide-ranging fraud case tied to Covid-19 relief funds continues to play out in federal court. A former N.C. State basketball player and Harlem Globetrotter is going to prison for seven years ...

The DOJ report stated that the suspects had siphoned ... especially with the the statute of limitations for PPP and EIDL fraud being extended from five to 10 years. “COVID is in our rear-view ...

Nearly $4 million in fraudulent PPP funds were awarded to Jackson or ... reputation to recruit people into a multi-million-dollar fraud on our nation’s pandemic relief program.

The same report pointed out that the SBA has since ... Nonbank lenders were responsible for more than $14 billion in suspected fraud in the PPP program alone. Expanding their reach in taxpayer ...

and their co-conspirators submitted PPP loan applications that they knew contained false information. Reis and Hockridge are charged with one count of conspiracy to commit wire fraud and four ...