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The Latest Breaking News from PPP

Federal watchdog says over $200 billion in pandemic business loans look fraudulent

The Inspector General of the Small Business Administration has released a "landscape of fraud" report highlighting why 17% of PPP and other loans appear bogus

WEKU

Over $200 billion in pandemic business loans appear to be fraudulent, a watchdog says

The Office of Inspector General of the Small Business Administration has released a "landscape of fraud" report highlighting why 17% of PPP and other loans appear bogus.

WEKU

The Great Replacement is a comic trip down a dark rabbit hole

A PLAY, a Pie and a Pint (PPP) – the successful lunchtime play series at the Òran Mór venue in Glasgow – is currently celebrating its 20th…

The National (Scotland)

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Pandemic relief scammers have stolen billions nationwide. Illinois is poised to get tougher on them.

Gov. J.B. Pritzker is expected to sign a bill that extends the statute of limitations to prosecute pandemic relief fraud. The federal government last year made a similar move, as billions in Paycheck Protection loans and other relief have been stolen or misspent across the country.

Chicago Sun-Times

Over $400 Billion in COVID Aid Was Stolen or Wasted

A new Associated Press analysis of government data suggests 10 percent of all COVID aid was lost to fraud or theft. That figure will likely grow.

Reason

Maple & Ash restaurant accused in lawsuit of misusing federal pandemic relief aid for businesses

The suit accuses the restaurants of diverting taxpayer money for private jets and country club dues, which the owners of the Gold Coast steakhouse and a sister restaurant in Scottsdale, Ariz., deny doing.

Chicago Sun-Times

County workers’ alleged PPP fraud is shameful example of cooking the books

Dozens of workers have resigned, been fired or are being investigated, including the latest allegations involving Chicago Park District employees. It’s part of the massive nationwide pandemic relief fraud that is costing us billions.

Chicago Sun-Times

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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

Dozens of Cook County employees out after PPP fraud probe, Walmart closings fallout and more in your Chicago news roundup

Today’s update is about an eight-minute read that will brief you on the day’s biggest stories.

Chicago Sun-Times

Dozens of Cook County employees resign or are fired in clerk of court, county inspector general’s PPP fraud probe

Forty-eight court clerk’s office employees “no longer work” there after investigators found they defrauded the federal COVID relief Paycheck Protection Program. Six employees of other county agencies also have been found to have defrauded federal relief programs.

Chicago Sun-Times

South Ayrshire councillors facing toughest ever budget this week

South Ayrshire Council faces a £37.8m financial shortfall over the next three years, but is using new PPP guidance to ease impact.

Daily Record

Man who spent $5m Covid relief funds on luxury sports cars and vacations is jailed

Mustafa Qadiri ordered to pay millions in restitution

The Independent UK

California man who spent $5m Covid relief funds on luxury sports cars and vacations jailed

Mustafa Qadiri ordered to pay millions in restitution

The Independent UK

Rolls-Royce, Porsche, Cartier: How a California man spent PPP loans and went to prison

LOS ANGELES — An Irvine man went on a luxury spending spree with fraudulently obtained PPP loans, buying himself luxury cars and designer swag, and landing himself in prison, federal prosecutors announced Friday.

Los Angeles Times

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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.

WEKU

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.

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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.

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.

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

Irish Mirror

All you need to know as tolls on Irish motorways are set to jump to 'maximum' allowed

The only route that will not be affected by these price changes is The Dublin Port Tunnel

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