Feds Net 57 People in Probe of PPP Loan Scams

Elvera Bartels

The Section of Justice said it experienced uncovered prevalent fraud in the Paycheck Security Plan, with 57 persons, which include an NFL player, being charged so far with attempting to steal a total of $one hundred seventy five million in coronavirus aid loans for tiny enterprises.

The spectrum of fraud has ranged from persons allegedly receiving dollars on behalf of faux providers to reputable small business proprietors accused of spending resources on luxurious goods for them selves fairly than paying workers and even suburban house owners allegedly pretending to be farmers.

Jerome Bellamy, who was produced previously this 7 days by the New York Jets, has been charged with fraudulently obtaining a $1.2 million financial loan from the PPP for his Drip Entertainment firm and spending the proceeds on luxurious products and at a casino in Hollywood, Fla.

“The PPP program represented crucial enable at a crucial time,” Acting Assistant

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