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Started By
Message
re: Is there a new PPP hustle going around?
Posted on 5/25/21 at 9:32 pm to Mingo Was His NameO
Posted on 5/25/21 at 9:32 pm to Mingo Was His NameO
quote:
Your "banking partners" did not disclose financial statement information to some jabroni asking about PPP
Jesus Christ I’ve tried to be patient with you but damn you must be dense.....you talk about things in general terms not at the damn financial statement level....damn
0
Posted on 5/26/21 at 6:39 am to VADawg
quote:
I've had to investigate numerous fraudulent PPP claims. I promise you it happens.
According to public information, 192,693 "businesses" in Louisiana have received PPP Loans. ONLY 1 fraud indictment.
You seem to be implying that you know fraud happens (s as in plural) from your investigations but yet the AG's office doesn't seem to give a shite. Are the numbers of indictments about to pickup drastically or are these people just getting a pass?
Posted on 5/26/21 at 7:28 am to Bazzatcha
quote:
According to public information, 192,693 "businesses" in Louisiana have received PPP Loans. ONLY 1 fraud indictment.
Based on my experience with PPP, I would imagine the fraud would be caught during the forgiveness process since that’s when you have to prove the money was used for payroll, office rent, etc...
Not sure how many people have gotten to that point yet
Posted on 5/26/21 at 7:32 am to Bazzatcha
What is amazing is that for us to get a PPP loan on the initial round, we had to provide proof of income for 2 years I think, where all the money went, statements of wages paid so they could average them. It took us a couple days to get everything together and filled out for a legitimate PPP loan.
I have heard from several of my employees the past few months that they have buddies that were getting 10-20k loans on bullshite and I have no idea how when I had to go back a year or two and fill out tons of paperwork. Then we weren't allowed to pay the owner of the company (us) using those funds or they might not have been forgiven.
I have heard from several of my employees the past few months that they have buddies that were getting 10-20k loans on bullshite and I have no idea how when I had to go back a year or two and fill out tons of paperwork. Then we weren't allowed to pay the owner of the company (us) using those funds or they might not have been forgiven.
Posted on 5/26/21 at 7:46 am to DCtiger1
Forgiveness by loan count
Data as of May 24, 2021
Total 2020 PPP volume
5.2 million
Forgiven
3.3 million
Amount not forgiven
-
Under review
145k
Applications not yet received
1.7 million
Data as of May 24, 2021
Total 2020 PPP volume
5.2 million
Forgiven
3.3 million
Amount not forgiven
-
Under review
145k
Applications not yet received
1.7 million
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