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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.
In a scathing report, the US government said Blueacorn, Womply, and Kabbage were among the fintechs that failed to prevent PPP fraud.
Prosecutors charged Evan and Joshua Edwards with bank fraud for allegedly lying about their ministry to get an $8.4 million loan.
The world of banking compliance is constantly changing, and bankers have an increasing amount of information to keep up with. This update includes CFPB's new consumer data rights rule, DOJ False Claims Act Enforcement, and American Bankers Association's letter to CFPB.
New York-based defendant guilty all six counts of indictment role in scheme to fraudulently obtain $10 million in government-backed loans designed to provide relief to small businesses during COVID-19 pandemic. Neurologist and Pharma Sales Rep Nuedexta Drug Kickback Scheme