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That just seems so unlikely. There were so many PPP loans (over 10 million forgiven). The government can't possibly go through even a small percentage of the fr
by kotlin2 4y ago
That just seems so unlikely. There were so many PPP loans (over 10 million forgiven). The government can't possibly go through even a small percentage of the fraudulent loans with enough rigor to build a compelling case of fraud. We'll be lucky if they reach 1000 cases of fraud.
- bombcar 4y agoMuch of it will be people reporting fraud: https://www.sba.gov/about-sba/oversight-advocacy/office-inspector-general/office-inspector-general-hotline https://www.sba.gov/about-sba/oversight-advocacy/office-insp... I agree that they may hit a few thousands at most, and much of the "fraud" is unprovable (e.g., companies that would have survived without a PPP loan but got one anyway, etc).
- megaman821 4y agoWeren't the terms of the loan; Is your business being negatively affected by COVID? Will you maintain your payroll if you get this money? Under the lenient terms of the loan, I don't see many real business having to worry about fraud.