SBA Sends 562,000 Suspected Fraudulent Loans to Treasury for Collections Totaling $22 Billion

The SBA has transmitted the borrowers to the DOJ. And with today’s referral, Treasury will begin collecting on the outstanding debt as part of the Trump Administration’s commitment to recouping stolen ...

Man pleads guilty to stealing over $1M in PPP loans for supposed amateur basketball league

A man pleaded guilty to a PPP fraud scheme that netted him over $1 million in pandemic relief funds meant for small ...
The Business Journals

The SBA sent thousands of PPP loans to collections. It didn’t always notify the businesses.

A newly issued report highlights the long tail the SBA has when it comes to dealing with the aftermath of programs that kept many businesses afloat during the pandemic. The Small Business ...

Biden admin 'deliberately protected' 562K pandemic-era loans in $22.2B suspected fraud scheme: SBA, Vance

The SBA says it referred 562,000 suspected fraudulent pandemic loans totaling over $22.2 billion to the Treasury, accusing ...
The Business Journals

Pandemic-era SBA programs spark debate five years later

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. Preview this article 1 min The SBA allocated more than $1 ...
Yahoo

Ex-Small Business Administration employee sentenced to 4.5 years for PPP fraud

A former Small Business Administration employee who learned the system from the inside and cashed in on pandemic loans for herself and others was sentenced Friday to over four years in prison for ...
JD Supra

Paycheck Protection Program (“PPP”) Loan Fraud: A Survey & Analysis of Recent Civil & Criminal Enforcement Outcomes

The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act was a federal law enacted in or around March 2020 designed to provide emergency financial assistance to the millions of Americans who ...