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The Latest Breaking News from Paycheck Protection Program

She invented a business, got $41,381 in PPP loans and still won't spend a day in prison

An Illinois woman confessed to fraudulently obtaining government aid via a fake business, netting over forty thousand dollars from two Paycheck Protection Program loans. Her tax returns raised red flags that led to the discovery of the fraudulent activity. Ultimately, she avoided jail time, receiving probation and was ordered to…

The Economic Times

The GOP Megadonor Behind the Bid to Break Dallas City Government

Conservative hotelier Monty Bennett and a California-based company that offers protesters-for-hire have seeded an “astroturf” right-wing influence network that has kicked into overdrive to push controversial “Dallas HERO” city charter amendments.

Texas Observer

PPP fraud investigation finds Cook County workers ripped off $1.2 million from pandemic relief program

Interim Cook County Inspector General Steven Cyranoski says he suspects eight workers of defrauding the Paycheck Protection Program — on top of at least 31 workers he previously identified.

Chicago Sun-Times

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Amid PPP fraud investigation, 9 top employees have left chief Cook County judge’s office

A year into Judge Timothy Evans’ still-secret investigation, the Sun-Times has found that nine of his highest-paid employees who left match loan recipients in the fraud-ridden Paycheck Protection Program.

Chicago Sun-Times

PPP fraud found among Illinois state workers leaves investigator ‘disappointed but not surprised’

Illinois Executive Inspector General Susan Haling says 177 state employees appear to have defrauded the federal Paycheck Protection Program designed to help struggling businesses during the COVID-19 pandemic.

Chicago Sun-Times

More PPP fraud, this time in Chicago Public Schools? Sadly, we’re not surprised.

People may be weary of hearing about government employees and others fleecing billions from the federal Paycheck Protection Program. But anyone accused of wrongdoing should be held accountable.

Chicago Sun-Times

2 former Chicago police officers charged in $2 million COVID-19 relief fraud

Torrey Price retired from the Chicago Police Department on July 15 — about two weeks before he was indicted for fraud. Aaron Price, the other former cop who’s charged, retired in 2017.

Chicago Sun-Times

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25 Chicago Park District employees could face firing in COVID relief fraud probe

And City Hall’s inspector general says she is continuing to investigate possible Paycheck Protection Program fraud.

Chicago Sun-Times

PPP fraud suspected of 5 more Cook County workers, including woman who used money to pay for daughter’s wedding, report says

Interim Cook County Inspector General Steven Cyranoski says, over the past year, 25 county workers were found to have ripped off the federal Paycheck Protection Program.

Chicago Sun-Times

PPP fraud probe results in 6 Chicago Park District employees resigning, 5 facing discipline

Separately, City Hall Inspector General Deborah Witzburg’s investigation of COVID relief Paycheck Protection Program fraud “is a large-scale undertaking” that could lead to criminal charges.

Chicago Sun-Times

Ja’Mal Green business steered COVID-19 relief loan applicants to lenders faulted by Congress for ignoring fraud

In hindsight, government oversight of lenders was lax, mayoral hopeful says, but many small businesses denied by traditional banks got the help they needed.

Chicago Sun-Times

PPP fraud uncovered in Chicago, informant reveals $100K bounty on FBG Duck and more in your Chicago news roundup

Today’s update is a 5-minute read that will brief you on the day’s biggest stories.

Chicago Sun-Times

Clusters of pandemic relief loans went to the same Chicago addresses, including homeless shelters, Sun-Times finds

One Paycheck Protection Program loan recipient who used a Salvation Army address said he was a farmer. A dozen others said they operated barber shops or beauty salons. Most got loans of about $20,000, the maximum based on a yearly income of at least $100,000.

Chicago Sun-Times

How the Paycheck Protection Program went from good intentions to a huge free-for-all

An NPR analysis of data released by the Small Business Administration shows the vast majority of Paycheck Protection Program loans have been forgiven, even though the program was rampant with fraud.

WEKU

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Chicago Sun-Times

COVID relief fraud probe includes over 50 employees in Cook County Clerk of Court Iris Martinez’s office

Other city and county agencies also have been looking into employees’ loans under the federal Paycheck Protection Program.

Bangkok Post

Pandemic Loans Are Coming Due but Some Businesses Aren't Ready to Repay

Many small businesses that received federal pandemic aid are now on the hook for repayments, and some say the timing couldn't be worse.

Reason

Congress Has a New Scapegoat for COVID Fraud: Banking Apps

Fintech platforms facilitated fraud in the Paycheck Protection Program, according to a new congressional report.

Chicago Sun-Times

Cook County’s chief judge investigating court employees who got COVID-19 relief loans

Four workers in other county departments have quit or been fired this year while under suspicion of defrauding the federal Paycheck Protection Program.

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WEKU

A congressional report says financial technology companies fueled rampant PPP fraud

Fraud in the Paycheck Protection Program, which gave potentially forgivable loans to small businesses during the pandemic, was largely due to financial technology companies, according to a new report.

McClatchy Washington Bureau

PPP firms gave selves loans, bought Porsche, $8M home, says report on COVID loan fraud

WASHINGTON — 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 COVID-19 small business relief program.

The Independent UK

House panel says lax screening helped facilitate PPP fraud

A House investigations panel says financial technology firms “abdicated” their responsibility to screen out fraud in applications for a federal program designed to help small businesses stay open and keep workers employed during the pandemic

Reason

Brickbat: You Can't Fail

A government watchdog found that 179 ineligible nonprofit organizations received a total of $684 million in Paycheck Protection Program loans. The loans were supposed to help small businesses that were closed by government mandates during the COVID-19 pandemic.

McClatchy Washington Bureau

Facing federal PPP fraud investigations, online lender Kabbage files for bankruptcy

Online lender Kabbage was one of the biggest lenders in the first year of the Paycheck Protection Program, processing more than $7 billion in loans.

The Independent UK

Joe Biden doubles down on criticism of ‘what’s her name’ Marjorie Taylor Greene on student loans

‘A whole lot of Republicans got a lot of money’

Reason

No, PPP Doesn't Justify Biden's Student Loan Bailout

The proper response to one failed bailout is not another bailout of a different group.

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