DOJ: 57 people accused of filing fraudulent PPP loan applications

FILE – This November 28, 2018, file photo shows the Department of Justice seal in Washington, DC (AP photo / Jose Luis Magana, file)

OAN News Room
Updated 12:45 PM PT – Thursday, September 10, 2020

The Department of Justice recently announced that it accused 57 people of cheating the paycheck protection program. On Thursday, authorities confirmed the suspects submitted false applications with the Small Business Administration.

He called the number of fraudulent loans “significant”. Officials said the suspects stole taxpayers’ money and bought luxury items, including yachts, houses and sports cars.

The government has so far recovered $ 30 million in stolen funds.

“I can’t help but be disappointed,” said IRS officer James Lee. “It seems that there is no morality among criminals, just as there is no limit for them.”

The Paycheck Protection Program made $ 670 billion available to small businesses through the $ 2.2 trillion Cars Act, which was passed by Congress earlier this year.

More news: Senate fails to advance GOP’s ‘Skinny’ Stimulus bill