Law Firm That Made Associates Pay Back Salary For COVID Slump Got $792K In PPP Loans
Just when you thought the facts couldn't be more cartoonish...
Source: abovethelaw.com
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Federal Reserve Rules on BSA Related to PPP Loan Fraud
Federal Reserve Board FRB assessed a second-tier civil penalty of $2.3 million against New York-based Popular Bank for unsafe and unsound practices related to six Paycheck Protection Program PPP loans. Bank processed funded loans despite detecting fraud in loan applications.
Source: natlawreview.com
Feds Seized Party Boat, Rolls Royce, Man Purchased With COVID Loans
Michael George McQuarn submitted 10 PPP loans under four different business names, including one titled "Cool Kids Entertainment Group, LLC."
Source: businessinsider.com
Fraudulent PPP Loans Used to Buy Real Estate, Luxury Cars, and Jewelry
As of October, the Justice Department had prosecuted more than 235 defendants in more than 162 criminal fraud cases related to the pandemic.
Source: businessinsider.com
Fraudulent ministry receives $8.4M in COVID-19 relief funds
Leaders of a fraudulent ministry have been charged with receiving over $8 million in COVID-19 pandemic relief funds by lying about the size of their religious nonprofit, allegedly using the funds to put a downpayment on a mansion in Central Florida.
Source: christianpost.com