NPR: Over $200 billion in pandemic business loans appear to be fraudulent, a watchdog says
NPR: Over $200 billion in pandemic business loans appear to be fraudulent, a watchdog says
The Office of Inspector General of the Small Business Administration has released a "landscape of fraud" report highlighting why 17% of PPP and other loans appear bogus.
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This was as designed. "COVID Cash" was a criminal fraud upon US citizens.
Much better use would have been given to people directly. They could have spent it on business.
Not businesses that were closed.
Or business at all. They aren't living breathing things. It's the people who matter
This is why I was in the "give it to businesses to pay their employees" camp. I thought it was a great idea. I foolishly did not foresee the massive amounts of fraud happening.