- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Is there a new PPP hustle going around?
Posted on 5/25/21 at 4:24 am to SlowFlowPro
Posted on 5/25/21 at 4:24 am to SlowFlowPro
quote:
I imagine this is going to lead to lots of prosecutions
They'll claim white supremacy or income inequality or some shite like that and be able to keep the money.
Meanwhile, our investigation agencies will be focused on the important things like pullropes in NASCAR garages.
0
Posted on 5/25/21 at 6:02 am to tgrbaitn08
quote:
I already got my first round's forgiveness letter.
Did you have to show where it went or did you and your old lady go spend it on personal items and vacations ?
Posted on 5/25/21 at 7:17 am to Curado Roy
I can guarantee you the Secret Service, FBI, IRS-Criminal Intelligence, TIGDA (Treasury Department OIG), and other Feds are actively investigation PPP fraud cases."
Tell us how you can guarantee this.
Tell us how you can guarantee this.
Posted on 5/25/21 at 7:21 am to Bazzatcha
I didn't apply for PPP because it felt dirty for me to take money when covid helped my business not hurt it.
I wish I did though knowing it was forgivable and so many others did. I would have liked an extra 20k.
I wish I did though knowing it was forgivable and so many others did. I would have liked an extra 20k.
Posted on 5/25/21 at 7:23 am to Mingo Was His NameO
quote:
Some of you are so fricking stupid it's unreal.
The majority of section 8 housing can't tell you the president during work war II, but they're savvy enough to start an LLC and fill out the SBA paperwork to get PPP
You SEVERELY underestimate the lengths that type of individual will go to to get free money from the govt to continue not working for a while longer.
Posted on 5/25/21 at 8:06 am to WG_Dawg
quote:
ou SEVERELY underestimate the lengths that type of individual will go to to get free money from the govt to continue not working for a while longer.
This. If it’s relatively easy, I’m sure there is a ‘go to’ person in a lot of these communities that has a lick of sense that helps them through the process. It’s the same people that line up the single mothers to get random friends with jobs to claim their kid as an exemption and they split the money. I know of people that got back $8000-$10000 in taxes refunds when they only made $35k and have no kids of their own. They claim 2 kids they know.
This post was edited on 5/25/21 at 8:07 am
Posted on 5/25/21 at 8:33 am to supadave3
quote:
This. If it’s relatively easy, I’m sure there is a ‘go to’ person in a lot of these communities that has a lick of sense that helps them through the process
It's not. My firm processed a lot of PPP loans. A shite load were denied just because they didn't submit the correct documentation.
Im not going to get into all of it, but if "Joe's Popsicles" with a po box and no income submitted an application, I can guarantee you it wasn't accepted.
I'll repeat myself, any one that believes that is a fricking moron
Posted on 5/25/21 at 8:35 am to Mingo Was His NameO
quote:
It's not. My firm processed a lot of PPP loans. A shite load were denied just because they didn't submit the correct documentation.
Im not going to get into all of it, but if "Joe's Popsicles" with a po box and no income submitted an application, I can guarantee you it wasn't accepted.
That’s good to hear. I sure haven’t heard of anyone doing the PPP scam, but I really wouldn’t know even if it was going on. I’m not involved with banking or the hustlers.
Posted on 5/25/21 at 8:37 am to Mingo Was His NameO
Here are some facts:
1) People lie
2) There are some people in the hood that have some modicum of skill with Photoshop (or similar applications) and/or the internet
3) Everyone in the hood knows who these people are and what their drug/vice of choice is
If your position is it would be difficult to provide a fake PPP application that gets approved well I'd say that would probably be a reckless position at the least.
ETA Now today the auditing of the PPP applications may be more stringent (IDK but I kind of doubt it), but when the CARES Act was first signed and PPP first went online back in mid-2020 it was the wild wild West.
1) People lie
2) There are some people in the hood that have some modicum of skill with Photoshop (or similar applications) and/or the internet
3) Everyone in the hood knows who these people are and what their drug/vice of choice is
If your position is it would be difficult to provide a fake PPP application that gets approved well I'd say that would probably be a reckless position at the least.
ETA Now today the auditing of the PPP applications may be more stringent (IDK but I kind of doubt it), but when the CARES Act was first signed and PPP first went online back in mid-2020 it was the wild wild West.
This post was edited on 5/25/21 at 8:41 am
Posted on 5/25/21 at 8:39 am to supadave3
quote:
I know of people that got back $8000-$10000 in taxes refunds when they only made $35k and have no kids of their own. They claim 2 kids they know.
Do we not think that these same people that setup these frauds won't do it in other places or ways?
Posted on 5/25/21 at 8:42 am to LSU316
quote:
If your position is it would be difficult to provide a fake PPP application that gets approved well I'd say that would probably be a reckless position at the least.
quote:
I know a guy that runs some S8 housing....he said a shitload of his tenants started making these things and selling them out of their houses just to be able to apply for PPP. He tells me that they got it too. I still am not sure I believe it but he swears its the truth....he said big screens, new cars, etc were coming into the hood like hot cakes last year.
Im saying shite like this is not happening. Are there fraudulent applications? Of course, and there's even more non-qualified spending.
But it's going to be incredibly easy to catch that. In a lot of cases it's not even going to take human interaction.
Some people will get away with fraud, no doubt, but it's not some wide spread conspiracy
quote:
Now today the auditing of the PPP applications may be more stringent (IDK but I kind of doubt it), but when the CARES Act was first signed and PPP first went online back in mid-2020 it was the wild wild West.
What are you basing any of your opinions on? My firm has handled PPP since its inception.
This post was edited on 5/25/21 at 8:43 am
Posted on 5/25/21 at 8:43 am to LSU Coyote
quote:
But let us spend more money finding those Trump supporters who walked into the Capital Building instead of finding real criminals.
Posted on 5/25/21 at 8:45 am to Mingo Was His NameO
quote:
Some people will get away with fraud, no doubt, but it's not some wide spread conspiracy
I doubt there will ever be an audit into PPP but I'd love to see the outcome it there is.
quote:
What are you basing any of your opinions on?
What I heard at the time from accountants at my company and banking partners that we work with.....I suppose it is possible that they could have been lying to me but I'm not sure what the gain would have been other than to tell a good story I guess.
ETA The whole reason I asked those folks about it was because I had heard numerous rumors that "small businesses" were getting it that I had questions about if they were an actual business and how they could prove revenue and other metrics (labor, expenses, etc). I also had questions about how need was determined....because a lot of businesses got PPP that lost 0 revenue.
This post was edited on 5/25/21 at 8:49 am
Posted on 5/25/21 at 9:04 am to LSU316
quote:
I doubt there will ever be an audit into PPP but I'd love to see the outcome it there is.
The Treasury is auditing every loan over $2 million and selecting a sample of smaller loans.
Posted on 5/25/21 at 9:06 am to LSU316
quote:
The whole reason I asked those folks about it was because I had heard numerous rumors that "small businesses" were getting it that I had questions about if they were an actual business and how they could prove revenue and other metrics (labor, expenses, etc). I also had questions about how need was determined....because a lot of businesses got PPP that lost 0 revenue.
How would your company know any of that shite and why would bankers you know tell you that?
Posted on 5/25/21 at 9:14 am to Mingo Was His NameO
quote:
The Treasury is auditing every loan over $2 million and selecting a sample of smaller loans.
audit by an outside 3rd party.
Posted on 5/25/21 at 9:19 am to Mingo Was His NameO
quote:
How would your company know any of that shite and why would bankers you know tell you that?
In the real world business partners talk to each other....just an FYI.
Also there is a public list of all companies that received PPP.
Posted on 5/25/21 at 9:23 am to LSU316
quote:
In the real world business partners talk to each other....just an FYI.
Your "banking partners" did not disclose financial statement information to some jabroni asking about PPP
quote:
Also there is a public list of all companies that received PPP.
I understand that, it has nothing to do with their revenue or expenses.
Posted on 5/25/21 at 9:25 am to Mingo Was His NameO
quote:
My firm processed a lot of PPP loans. A shite load were denied just because they didn't submit the correct documentation.
I've had to investigate numerous fraudulent PPP claims. I promise you it happens.
I can also guarantee you that I will have to investigate the sale of fraudulent vaccine passports eventually.
This post was edited on 5/25/21 at 9:28 am
Page 4 of 5
Popular
Back to top
Follow TigerDroppings for LSU Football News