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Started By
Message
re: Louisiana woman defrauded government for $1.1 million via Paycheck Protection Program
Posted on 5/23/23 at 10:25 am to Lawyered
Posted on 5/23/23 at 10:25 am to Lawyered
quote:
I’d love to know the REAL number of fraudulent claims of all that PPP money
I was VERY suspicious forming LLCs for former clients during the PPP. I didn't want my name on any of that mess.
0
Posted on 5/23/23 at 10:27 am to member12
Brandon will pardon her and let her keep the $1.1M as a form of reparations.
Posted on 5/23/23 at 10:34 am to hawkster
quote:
The real criminals are those in Washington who created the fraud magnet program in the first place.
Unemployment was worse. Every state was hit hard by fraudsters.
The programs they set up were awful and easily duped.
Posted on 5/23/23 at 10:35 am to SuperSaint
quote:
This her?
If it is, I hope she "be going" to jail for a long time.
Posted on 5/23/23 at 10:41 am to member12
she be witch hunt
Posted on 5/23/23 at 10:45 am to member12
I made PPP loans and I just don't see how the fraud happened unless the lender was in on it. Even if the lender was involved I don't see how. We had a ton of oversight on these deals.
Probably her dumbass trying to structure the deposits is what set off the red flags. There was absolutely zero reason to do that, the loan proceeds weren't paid in cash.
Probably her dumbass trying to structure the deposits is what set off the red flags. There was absolutely zero reason to do that, the loan proceeds weren't paid in cash.
Posted on 5/23/23 at 10:46 am to member12
quote:
fraudulently taking $1 million from federal programs meant to keep businesses afloat
When citizens do this they call it "fraud" and "theft".
When the government does this they call it "taxes".
Posted on 5/23/23 at 10:48 am to ConfusedHawgInMO
quote:
Probably her dumbass trying to structure the deposits is what set off the red flags. There was absolutely zero reason to do that, the loan proceeds weren't paid in cash.
She is an idiot. I'm sure someone told her not to make any deposits over $10K because she'd have to fill out a CTR.
It's pretty easy for bank investigators to tell who is actively trying to avoid a CTR filing. Structured cash deposits/withdrawals is a felony and is often something the feds will use to take a deeper dive into someone's account.
The amount of PPP loan fraud out there was insane. Bank accounts and fake businesses were set up solely to process fraudulent PPP loans. Using bullshite SSNs/EINs was a popular trick.
This post was edited on 5/23/23 at 10:55 am
Posted on 5/23/23 at 11:12 am to VABuckeye
quote:
They're saying she used made up numbers for several businesses to grossly inflate the amount that she applied for.
How does this happen? I got 4 PPP loans across 2 businesses and had to turn in bank statements showing 12 months of deposits to justify the loan amounts.
Posted on 5/23/23 at 12:17 pm to Meauxjeaux
quote:
How does this happen? I got 4 PPP loans across 2 businesses and had to turn in bank statements showing 12 months of deposits to justify the loan amounts.
What kind of business because PPP was based on payroll, not revenue.
Posted on 5/23/23 at 12:31 pm to ConfusedHawgInMO
quote:
Probably her dumbass trying to structure the deposits is what set off the red flags. There was absolutely zero reason to do that, the loan proceeds weren't paid in cash.
Posted on 5/23/23 at 12:44 pm to member12
Had she not structured the deposits it would have taken a lot longer to catch her.
Posted on 5/23/23 at 1:14 pm to member12
quote:
Virtuous
quote:
She lied
This is gold! I guess the name wasn't enough to throw them off the scent.
Posted on 5/23/23 at 1:15 pm to SlowFlowPro
quote:
She admitted hiding the source of the funds when she deposited the loans into her business accounts so as not to raise suspicions and trigger transaction reporting requirements.
The Federal Government calls that "money laundering."
Posted on 5/23/23 at 1:33 pm to Lawyered
quote:
I’d love to know the REAL number of fraudulent claims of all that PPP money
How many total claims were there?
Subtract out restaurants, amusement places, bars, etc.
The vast majority of what is remaaining, is fradulent.
Posted on 5/23/23 at 1:37 pm to SlowFlowPro
quote:
Yeah that's obvious, but why did she engage in structuring?
The fact PPP money ended up in her account wasn't suspicious or illegal. HOW it got there was illega
The hell of it is... I'm willing to bet that the structuring is what got her on the fed's radar.
No bank in America was seriously questioning large deposits at that time... just show them the loan docs if they happen to ask.
This Southern grad is the definition of the meme, "Congrats, you played yourself"
Posted on 5/23/23 at 1:39 pm to RogerTheShrubber
quote:
Unemployment was worse. Every state was hit hard by fraudsters.
The programs they set up were awful and easily duped.
Everytime the government rushes to get money out, fraud occurs.
Tax refunds have shown us this for years. That's why there is now a somewhat verification process for EITC... although it's still easily gotten around.
Posted on 5/23/23 at 1:42 pm to member12
quote:
Tiera Lands pleaded guilty to counts of wire fraud and money laundering
Would be funny if one of her businesses was a laundromat.
Posted on 5/23/23 at 1:47 pm to ConfusedHawgInMO
quote:
I made PPP loans and I just don't see how the fraud happened unless the lender was in on it. Even if the lender was involved I don't see how. We had a ton of oversight on these deals.
Legit banks were worried about the banking regulators being up their asses. I have a friend who was a high up at a large local bank in another state, and she was sweating bullets making sure all the loans were on the up and up.
But there were a number of tech driven fly by night "loan companies" that popped out of nowhere with tons of advertising that were doing PPP loans, especially ones smaller than $150K, knowing that automatic / easy to get forgiveness would happen.
It was just too easy to ignore the obvious fraud. Not sure these places were "in on it" but certainly they didn't challenge anything.
The feds need to start looking at these places and auditing everyone who used them. And at the same time, go after the ERC mills as well.
I lost several clients because I would not participate in obviously fradulent PPP, EDIL and ERC calcs. Because after I told them no, they found someone who told them yes.
Posted on 5/23/23 at 1:47 pm to Townedrunkard
The government has Asset Forfeiture. If they can prove that just 1$ of criminally obtained money was spent on any asset (house, car, jewelry, ETC) then they can seize that to try and recoup the money back.
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