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President Trump signs the Paycheck Protection Program and Health Care Enhancement Act (H.R. 266), April 24, 2020. The Paycheck Protection Program (PPP) is a $953-billion business loan program established by the United States federal government during the Trump administration in 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help certain businesses, self ...
A Joliet business owner and a Palos Hills accountant both face wire fraud charges after federal prosecutors said they fraudulently obtained nearly $7.8 million in PPP loans in 2020 and 2021.
A Joliet business owner and a Palos Hills accountant both face wire fraud charges after federal prosecutors said they fraudulently obtained nearly $7.8 million in PPP loans in 2020 and 2021.
Specifically, the defendants said in the PPP loan applications that each business had around 60 employees and about $300,000 in average monthly payroll taxes, the DOJ said, adding fraudulent IRS ...
The CARES Act created the $349-billion Paycheck Protection Program, which provided low-interest loans to small businesses that were forgivable if they maintained their employees and payroll. The $349 billion was fully allocated within 13 days. During those 13 days, 1.6 million loans were approved by nearly 5,000 banks and other lenders. [3]
Business Owner Charged In $420K COVID-Relief Fraud Scheme: Feds - Chicago Heights, IL - The man received loans after claiming his company had 61 employees and a monthly payroll of $108K, but had ...
Federal prosecutors say the local CEO dramatically overstated the payroll of a holding company in an effort to fraudulently secure more than $440,000 from the Paycheck Protection Program, or PPP.
Mauricio Umansky has been accused of fraudulently obtaining $3.5 million from pandemic relief loans. According to court documents obtained by Us Weekly on Thursday, August 29, Realtor LLC claimed ...