Press "Enter" to skip to content

Fraudsters used Paycheck Protection Program loans for Bentleys, diamonds, luxury homes: watchdog

By Mary Lou Lang

This week’s Golden Horseshoe goes to the Small Business Administration for millions in Paycheck Protection Program loans it issued to fraudsters who used the money to purchase luxury homes, high-priced jewelry and expensive cars, including a Bentley and two Lamborghinis, according to a watchdog report.

The Paycheck Protection Program had the highest percentage of cases of criminal activity of all the pandemic relief programs, according to the Pandemic Response Accountability Committee’s recent Semiannual Report to Congress.

“A total of 14 OIGs have indictments/complaints, arrests, and/or convictions from April 1, 2021, through September 30, 2021, related to the federal government’s COVID-19 pandemic response,” PRAC reported…

READ MORE HERE

News PDF Archives – Jellyfish.NEWS

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Breaking News: