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The Latest Breaking News from PPP

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

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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

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

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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

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.

Chicago Sun-Times

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.

Reason

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.

Chicago Sun-Times

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.

WEKU

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.

McClatchy Washington Bureau

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

The Independent UK

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The Times of India

East Pakistan debacle in 1971 a 'military failure', says Pakistan foreign minister Bilawal Bhutto-Zardari

KARACHI: Pakistan's foreign minister Bilawal Bhutto-Zardari has termed the East Pakistan debacle in 1971 a "colossal military failure," in a veiled jibe at the former Army chief General Qamar Javed Bajwa, who termed it a "political failure."

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

The National (Scotland)

Making a comedy out of the world's crisis - The Prognostications of Mikey Noyce

A PLAY, a Pie and a Pint (PPP) – the acclaimed lunchtime theatre at the Oran Mor venue in the West End of Glasgow – has been on something of a…

Tribune News Service

Patricia Murphy: The debate Herschel Walker needed

Herschel Walker went into Friday night’s debate against U.S. Sen. Raphael Warnock with one job — to convince the Republicans still undecided about him that he is capable of the basics of the job of being a U.S. senator.

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news in one place.

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Reason

Millions of PPP Loans Were Flagged as Potentially Fraudulent. Many Were Never Investigated.

A new report takes an illustrative look inside the Small Business Administration, which was clearly overwhelmed by the obligation to push unprecedented piles of money out the door quickly.

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 National (Scotland)

The Ukrainian play caught in lunchtime limbo

EVER since it was founded by the late, great David MacLennan back in 2004, the lunchtime theatre A Play, A Pie And A Pint (PPP) has been…

The Independent UK

Police: Inmates got out of Illinois jail with pandemic loans

More than two dozen people have been charged in Illinois with fraudulently obtaining pandemic relief money, with authorities alleging some of them were behind bars when they used their relief money to post bond and free themselves from jail

The Guardian - AU

‘My children saved my life’: the terrifying toll of a political scandal in South Korea

Exclusive: Dongyoun Cho, who resigned from politics after a storm over painful details from her private life, speaks out about sexism, suicide and social change

Los Angeles Times

Michael Hiltzik: GOP ratchets up the hypocrisy in opposing Biden's student debt plan

The hypocrisy meter has been stuck at the high end as Republicans and conservatives fill the airwaves and social media to decry President Joe Biden's student loan forgiveness proposal.

Tribune News Service

Editorial: Not very PPProgressive: Lessons learned from PPP loans that went mostly to the rich

As the pandemic forced widespread closures in 2020, federal policymakers were staring down a torrent of job losses. Millions of workers were being laid off from businesses large and small, and millions more would lose their jobs with every passing week, causing indelible long-term damage to their financial picture and…

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