3 ms·
How would that work? Collect PPP and use it to pay yourself salary? I thought you had to show the people were already employed and paid when you apply. I'm sure
by whateveracct 5y ago
How would that work? Collect PPP and use it to pay yourself salary? I thought you had to show the people were already employed and paid when you apply. I'm sure it was a mess though.
- tppiotrowski 5y agoSole proprietors were eligible for PPP to cover lost income but it was based on previous years Schedule C so first year business owners likely couldn't apply
- fragmede 5y agoYour hypothetical scammer just got $20,000 deposited into their bank account. I don't think adhering to the letter of the loan, and repaying it, is a huge concern of theirs. Withdraw it all, and go live somewhere cheap for a couple years.
- syshum 5y agoThat is if you assume people played by the rules, and there was actually validation controls in place from what I have seen of the PPP and other covid programs the concern was getting the money out as fast as possible not validating claims. There was a SHIT ton of fraud... most of which will never be discovered