I ask because a couple in a state next to me just pled guilty for stealing not one PPP loan at 2.1 million and a second at 1.6 million? Did I miss out on something by being above board?
Trump gave these out as government welfare to his wealthy buddies
A lot of large companies would file with their subsidiaries, pretending to be much smaller companies and thus eligible for these loans meant for small businesses.
My company filed for two PPP loans to keep afloat. Any company could have just kept making money and the owners could have pocketed the cash. There were expectations that employees were not fired and other questions in the application that I can’t recall. When we applied for forgiveness on the loans we provided tax receipts and staff numbers over time. I’m sure it would have been pretty straightforward to lie or find someone to lie for you (accountant with less than stellar ethics).
Basically, the goal was to get money out as fast as possible. Accept application, send money, then investigate later. I think if Trump won in 2020, we would have seen far less PPP prosecutions.
My congressmen took a few million for his car dealership, and decided he shouldn’t have to pay it back.
Who?
Mike Kelly, NW PA.
He also sued his own state because we didn’t vote for Trump.
The proof for eligibility was basically self-attestation.
