'Biggest fraud in a generation': The looting of the Covid relief plan known as PPP
(www.nbcnews.com)
🚔 Crime & Corruption 💸
Comments (9)
sorted by:
Don't forget 10% for the big guy...........
Anthony Brian Logan: IRS Agents Steal THOUSANDS Of PPP Loan Money!
https://www.youtube.com/watch?v=wdXR6YhVI9s
MSM wants you mad so they can help green light investigations into legitimate participants.
The gov knew exactly what they were doing when they handed that money to fraudsters.
They simply do not care to go after them, but anyone with a failing business due to lockdowns and mandates. They'll target that all day long.
It should also be noted the government will routinely spend $2 to get $1 back.
In business, you get scammed sometimes despite your best efforts. Most of the time you have to eat the loss.
In government, you scam the people by giving their money to fraudsters. Then you prosecute the law abiding citizens and tie them up in legal battles prosecuted with their own tax dollars. It's doubleplus dipping.
They even said it right there in the article. $200bn+ went to foreigners. Never getting it back.
My business was shutdown for 4 months back in 2020 and severely restricted until about march of 2022. We were able to get both rounds of PPP and the amount we were approved for was nowhere near the amount that we lost in revenue because of the shutdown. The first round of PPP, our bank made us jump through hoops to get approved - second round, they just used the numbers we gave them for the first round. The process we went through seemed to have checks in place to keep fraudulent claims out. My thought, the banks that processed the loans that were fraudulent did not do their jobs. My understanding is that the banks got a 1% origination fee for all approved PPP loans they processed but the program did not hold the banks accountable for verifying the truthfulness of the loans .
Shoot me a pm if you want. I’m working with a CPA firm that averages $21k per employee with ERC. The firm I’m with even looks at Indirect Shutdowns from commie areas. Really helping a lot of companies, have done 7000
I appreciate the offer. Not sure what good it wold do my little company that consists of just me and the wife - co-ownership with no employees so not sure ERC would do anything for us.. We're doing good now - the main cause for our losses was because our business is event based and those were not happening. We could physically operate we just had no events to operate at.
Yeah we’re working with companies with 5 W2 employees on up. Feels weird to be in something so inflationary but might as well help people out. Good luck!
I own a commercial roofing company and have looked into the ERC can’t get our manufacturers to state that it was a government caused shutdown/slow down even though that’s what happened. I’d be interested in any help getting the ERC if you have another indirect route to getting it approved.
We got our piece of the PPP, we got the funds and then used them for payroll. Didn’t expect 100% forgiveness but thankful for the boost in income(we looked at it as a tax refund).