2024 Ppp loan fraud list

Oct 12, 2023 ... Sheriff: 'How can we have anyone wearing a badge that is stealing from the American people?' · Alexandra Acosta, 37 · George Anthony III, 50.. Elegancia reception hall

Small Business Paycheck Protection Program The Paycheck Protection Program established by the CARES Act, is implemented by the Small Business Administration with support from the Department of the Treasury. This program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.The ...PPP loan fraud investigations are on the rise across the country. Federal prosecutors and criminal investigators from various federal agencies are actively looking for possible PPP loan fraud, EIDL loan fraud, and other CARES Act violations in an attempt to recover money that may have been fraudulently obtained from COVID-19 relief programs.The PRAC’s team of data scientists identified the potential fraud and identity theft by using the PRAC’s Pandemic Analytics Center of Excellence (PACE) to analyze …Our mission to understand communities’ experiences with pandemic funding and programs brought us to Springfield, MA, where we gathered valuable lessons learned to improve federal emergency response programs. Read the report to learn how this city used pandemic relief funding to respond to and mitigate the effects of COVID-19.Dec 20, 2023 ... PPP loan fraud can be reported to the Small Business Administration's (SBA) Office of Inspector General (OIG) through their online form or ...Sep 9, 2021 · PPP loans and fraud – the red flags that could have been spotted. Approximately $800 billion went out in the CARES Act’s Paycheck Protection Program (PPP), providing nearly 12 million loans between April 2020 and May 2021 to U.S. businesses. These loans are all potentially fully “forgivable,” so calling them loans is not exactly accurate. The Atlanta Bureau of the US Secret Service pulling out the stops, capturing fraudsters and recovering millions in PPP loan theft and employment benefit mone...Jun 27, 2023 · It points to "1,011 indictments, 803 arrests, and 529 convictions related to COVID-19 EIDL and PPP fraud as of May 2023." All told, the report says "nearly $30 billion" in aid has been seized or ... IR-2024-83, March 28, 2024 — Four years after the enactment of a key pandemic-era law, the Internal Revenue Service released updated numbers showing Criminal Investigation (CI) has investigated 1,644 tax and money laundering cases related to COVID fraud potentially totaling $8.9 billion, with well over half that amount coming from cases opened in the last year.PPP Loan Recipient List By State —. New York. 734,808 TOTAL PPP LOANS. $60.7B TOTAL LOAN AMOUNT. $82,648 AVERAGE PPP LOAN. 9 AVG COMPANY SIZE. New York has a total of 734,808 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration. This table shows the top 5 industries in …As of December 2021, PPP fraud OIG Hotline complaints exceeded 54,000 in comparison to the 52 complaints received in all of 2019 for SBA’s 7(a) guaranteed loan program. …The PPP program gave out hundreds of billions of dollars in forgivable loans to be used to keep businesses afloat during the early months of the COVID-19 pandemic, but it has been rife with fraud ...January 13, 2023 — Four South Florida residents have been sentenced to prison for participating in a conspiracy to defraud the Paycheck Protection Program (PPP) out of loan proceeds. These loans are guaranteed by the Small Business Administration under the Coronavirus Aid, Relief, and Economic Security Act.The Fraud Section leads the Criminal Division’s prosecution of fraud schemes that exploit the PPP. Since the inception of the CARES Act, the Fraud Section has prosecuted over 200 defendants in more than 130 criminal cases and has seized over $78 million in cash proceeds derived from fraudulently obtained PPP funds, as well as numerous real ...Bank Fraud (18 U.S.C. § 1344) – Along with 18 U.S.C. § 1014, individuals and companies that submitted fraudulent PPP loan applications or commit bank fraud can also face charges under 18 U.S.C. § 1344. This federal statute imposes penalties of up to a $1 million fine and 30 years of federal imprisonment for, “knowingly execut [ing], or ...The Small Business Administration has released a list of businesses that have received emergency pandemic loans. Use our searchable database to see who in Louisiana received funds. Tweet; Share. ... That's why we published PPP loan data. When the government spends money, taxpayers deserve to know how it was spent, Clarion …Economic Injury Disaster Loans (EIDL) fraud. EIDL loans weren't quite as popular as PPP loans—just under four million loans totaling more than $378 billion were doled out during the pandemic. An ...Mar 21, 2024 ... This scam targets business owners who got financial relief from the Paycheck Protection Program during COVID-19. The PPP loans didn't have to be ...The fraudulent PPP loan application stated that Bethea had made $99,835 during calendar year 2019 (a year when Bethea was in prison), falsely claimed that Bethea had not been convicted of any fraud offenses during the past five years and attached a fraudulent income tax Schedule C as proof of her claim that she made $99,835.Jul 7, 2022 · Based on the defendants’ misrepresentations, lenders approved at least three fraudulent PPP loans and disbursed more than $62,000 in federal COVID-19 emergency relief funds. The counts of bank fraud and bank fraud conspiracy each carry a maximum penalty of 30 years in prison and a maximum fine of $1 million. The COVID-19 Fraud Strike Force Team, created by the U.S. Attorney’s Office to investigate fraud, is based out of Miami. Christensen said high-ranking BSO employees may be involved.Contact: [email protected]. Two Florida men pleaded guilty this week in the Northern District of Ohio for leading a nationwide scheme to fraudulently obtain over $35 million in Paycheck Protection Program (PPP) loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security …June 27, 2023, 12:44 PM PDT. By Laura Strickler. More than $200 billion in Covid relief loans and grants were distributed to potentially fraudulent actors, nearly one-fifth of all Small Business ... Under open government transparency guidelines, information on recipients of the $793B in forgivable government loans issued through the 2020 Paycheck Protection Program by the US Small Business Administration (SBA) are a matter of public record. FederalPay.org has created a powerful search tool that allows public access to the PPP loan database. Mar 28, 2022 ... ... PPP loans when the money ran out, even though demand continued. The fraud didn't harm just the taxpayers — it hurt people who needed the money.Sep 10, 2020 · A Hollywood film producer named William Sadleir was charged with fraudulently seeking more than $1.7 million in PPP loans to pay employees of his film production and distribution companies, only ... The Paycheck Protection Program (PPP) provides forgivable loans that have helped millions of businesses survive the economic fallout caused by the COVID-19 pandemic. For many small...We also note that SBA made approximately 11.4 million PPP loans, which by statute are 7(a) loans. The 70,000 PPP loans identified by OIG as potentially fraudulent, combined with the 54,000 PPP inquiries to the OIG Hotline, equates to approximately one percent of the PPP loans made by SBA.Jul 12, 2023 ... One of the hottest areas for fraud against the government right now is Paycheck Protection Program (PPP) loan fraud. The federal government ...Three Individuals are facing federal charges for allegedly fraudulently obtaining more than $2.4 million in PPP loans. Three Individuals are facing federal charges for allegedly fr...June 27, 2023, 12:44 PM PDT. By Laura Strickler. More than $200 billion in Covid relief loans and grants were distributed to potentially fraudulent actors, nearly one-fifth of all Small Business ...On June 5, 2020, two days after filing his bogus application for PPP funds, Dessaps got a wire transfer from the feds for… $836,000! “Bank records indicate that Dessaps spent PPP funds on ...In April 2020, Congress authorized over $300 billion in additional PPP funding. The PPP allows qualifying small-businesses and other organizations to receive loans with a maturity of two years and an interest rate of 1 percent. PPP loan proceeds must be used by businesses on payroll costs, interest on mortgages, rent, and utilities.Mar 3, 2023 · EVERY falsely certified that the applications and the information provided in the supporting documents were true and accurate when she electronically submitted the fraudulent PPP loan applications. EVERY charged the individuals she recruited to prepare and submit the fraudulent PPP application anywhere from $45.00 to $120.00 . Types of PPP Loan Fraud & Penalties · Wire Fraud (18 U.S.C. Section 1343): This occurs when an individual obtains money or property by means of false pretenses, ...As part of the fraud scheme, Pierre obtained a PPP loan for his company, Most Wanted Bullyz LLC (MWB), a dog breeding business, in which he falsely represented that MWB had 21 employees and an average monthly payroll of $165,870. In reality, MWB had no employees and no monthly employee payroll. Pierre gave a large portion of the …As part of the fraud scheme, Pierre obtained a PPP loan for his company, Most Wanted Bullyz LLC (MWB), a dog breeding business, in which he falsely represented that MWB had 21 employees and an average monthly payroll of $165,870. In reality, MWB had no employees and no monthly employee payroll. Pierre gave a large portion of the …The indictment further alleges that, as part of the fraud scheme, Johnson sought forgiveness of the fraudulent PPP loans she received. Additionally, Johnson allegedly applied for a loan through the EIDL program for her company, G.I.G Productions LLC, based upon materially false information about the borrower’s annual gross revenue in 2019.Three California companies have agreed to pay a total of $530,000 to settle allegations that they knowingly violated the False Claims Act when they received and retained more than one Paycheck Protection Program (PPP) loan prior to Dec. 31, 2020, in violation of PPP rules.GAO analyzed 330 PPP and COVID-19 EIDL fraud cases. Federal prosecutors across the United States filed bank fraud, wire fraud, money laundering, identity theft, and other charges against 524 individuals associated with these cases. This analysis is based on fraud cases publicly announced by the Department of Justice (DOJ) as of December 2021.We also note that SBA made approximately 11.4 million PPP loans, which by statute are 7(a) loans. The 70,000 PPP loans identified by OIG as potentially fraudulent, combined with the 54,000 PPP inquiries to the OIG Hotline, equates to approximately one percent of the PPP loans made by SBA.A federal grand jury in the Western District of Tennessee returned an indictment yesterday charging 10 individuals for their roles in schemes to defraud the Economic Injury Disaster Loan (EIDL) program and the Paycheck Protection Program (PPP), federal stimulus programs authorized as part of the Coronavirus Aid, Relief, and …On January 10, 2024, a Paycheck Protection Program (PPP) loan recipient pleaded guilty to one count of Bank Fraud. Marco Schiavenin, owner of Sterling Flooring in Fairfax, Virginia, pleaded guilty in the Eastern District of Virginia. According to the factual statement in support of the guilty plea, on or about May 20, 2020, Schiavenin, acting on behalf of …These defendants submitted over 33 applications for PPP and EIDL loans seeking over $9.4 million in loans, $7 million of which were funded. From January 2018 through August 2021, Barrie Osborne (a co-conspirator previously charged who is now deceased), Frank Hamilton, Michael Jones, Kenny Tran, Tina Chen, Tim Park, Peter An, Joe Greco, and ...get approval of an SBA loan, but requires any payment up front or offers a high interest bridge loan in the interim, suspect fraud. • SBA limits the fees a broker can charge a borrower to 3% for loans $50,000 or less and 2% for loans $50,000 to $1,000,000 with an additional ¼% on amounts over $1,000,000, with a maximum fee of $30,000.A federal jury in Atlanta convicted a Georgia man and woman yesterday for their roles in an over $11 million Paycheck Protection Program (PPP) fraud scheme. Teldrin Foster, 42, of Decatur, was convicted of bank fraud, wire fraud, conspiracy to commit bank fraud and wire fraud, false statements to a federally insured financial institution, and ...PPP Loan Recipient List By State —. Florida. 983,334 TOTAL PPP LOANS. $50.1B TOTAL LOAN AMOUNT. $50,905 AVERAGE PPP LOAN. 6 AVG COMPANY SIZE. Florida has a total of 983,334 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration. This table shows the top 5 industries in Florida …The Fraud Section leads the Criminal Division’s prosecution of fraud schemes that exploit the PPP. Since the inception of the CARES Act, the Fraud Section has prosecuted over 200 defendants in more than 130 criminal cases and has seized over $78 million in cash proceeds derived from fraudulently obtained PPP funds, as well as numerous real ...One includes Chris Lick of Starkville, Mississippi, who was sentenced to 78 months for submitting a fraudulent PPP loan application and has a $12,000,000 civil judgment. Another example is Mississippi attorney and SBA employee LaKeith Faulkner, who was sentenced to 62 months and ordered to pay $10,600,000 in restitution for his role in a scheme ...Economic Injury Disaster Loans (EIDL) fraud. EIDL loans weren't quite as popular as PPP loans—just under four million loans totaling more than $378 billion were doled out during the pandemic. An ...The Justice Department has brought criminal charges against at least 209 individuals in 119 cases related to Paycheck Protection Program (PPP) fraud since banks and other lenders began processing loan applications on behalf of the Small Business Administration on April 3, 2020. And these cases are just the beginning.Cindi Denton was charged with conspiracy to commit wire fraud, wire fraud, bank fraud, and conspiracy to attempt to commit wire fraud and bank fraud. The Government alleged that Ms. Denton submitted fraudulent loan applications for $491,310 in COVID-19 relief funds. The case was brought in Ft. Lauderdale, Florida. Ms.PPP loan fraud is defined as an individual or business providing false information when applying for or certifying a federal PPP loan. Not only is this a crime, but spending the funds outside of the specified uses is also illegal. As a reminder, eligible companies may use the money for the purposes of covering payroll and other operating ...Other concerns not involving fraud, waste or abuse involving SBA's programs or operations. If you have a question regarding an SBA loan or any SBA program, please contact your local SBA District Office or the SBA Answer Desk by telephone, 1-800-U-ASK-SBA (1-800-827-5722), by email, [email protected], or speak with an American Sign Language ...Dive Brief: Bankrupt small-business lender Kabbage will pay up to $120 million over allegations it committed Paycheck Protection Program fraud, the Justice …Rumors of misdeeds, inferred from the PPP list, spread quickly. The problem with this list is, it's often hard to verify identities, especially in cases of common names. …The Impact of PPP Loan Fraud. The impact of loan fraud is far-reaching and can have serious consequences for businesses and individuals. For businesses, PPP loan fraud can result in a loss of funds as well as reputational damage. It can also lead to an investigation by the Small Business Administration (SBA) and criminal charges.In addition to allowing the government to recover treble damages or triple the amount of the PPP loan, the False Claims Act also allows the United States to recover up to $27,018 in penalties for each PPP loan, bank processing fees, and a $402 court filing fee. ... The investigations into PPP fraud by the U.S. Attorney’s Office for the ...They came into their riches by participating in what experts say is the theft of as much as $80 billion — or about 10 percent — of the $800 billion handed out in a …PPP Loan Recipient List By State —. Illinois. 620,045 TOTAL PPP LOANS. $37.3B TOTAL LOAN AMOUNT. $60,159 AVERAGE PPP LOAN. 6 AVG COMPANY SIZE. Illinois has a total of 620,045 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration. This table shows the top 5 industries in Illinois … PPP Loan Recipient List By State —. Mississippi. 138,393 TOTAL PPP LOANS. $5.4B TOTAL LOAN AMOUNT. $39,229 AVERAGE PPP LOAN. 5 AVG COMPANY SIZE. Mississippi has a total of 138,393 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration. This table shows the top 5 industries in Mississippi by ... Collectively these defendants sought to defraud the Paycheck Protection Program (PPP), the Economic Injury Disaster Loan (EIDL) program and the Pandemic Unemployment Assistance (PUA) program of over $24 million.A congressional report says financial technology companies fueled rampant PPP fraud. A congressional report found financial technology companies, or fintechs, largely fueled PPP loan fraud ...The PPP loan applications reported that each business had between 59 and 69 employees and approximately $295,000 to $342,000 in average monthly payroll expenses. ... 2021 to one count of conspiracy to commit bank fraud and wire fraud in connection with the loan obtained by his business, Transportation Management …Sep 9, 2021 · PPP loans and fraud – the red flags that could have been spotted. Approximately $800 billion went out in the CARES Act’s Paycheck Protection Program (PPP), providing nearly 12 million loans between April 2020 and May 2021 to U.S. businesses. These loans are all potentially fully “forgivable,” so calling them loans is not exactly accurate. Darrell Thomas has been sentenced after pleading guilty to conspiracy to commit bank fraud and wire fraud and to money laundering for masterminding a scheme to obtain 14 fraudulent loans totaling approximately $11.1 million from the Paycheck Protection Program ("PPP").A Southern California resident accused of fraud related to $1.7 million in COVID-19 relief funds passed out in the courtroom. A Southern California resident accused of fraud relate...It was Geronimo’s PPP loan on the liquor store that tipped law enforcement off and led to the broader investigation into Dorlus’ fraudulent PPP loan scheme and recruitment structure. In addition to prison time, Dorlus will have two years of supervised release and must pay $5.6 million in restitution.Jun 22, 2022 · Francis J. Battista, 37, of Aston, Pennsylvania, filed 19 fraudulent applications for PPP and EIDL loans in 2020 and 2021, seeking over $10 million in loans. Battista allegedly supported his fraudulent loan applications by submitting fake tax documents, bank records and payroll summaries. PPP Loan Recipient List By State —. Georgia. 553,318 TOTAL PPP LOANS. $24.9B TOTAL LOAN AMOUNT. $44,958 AVERAGE PPP LOAN. 5 AVG COMPANY SIZE. Georgia has a total of 553,318 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration. This table shows the top 5 industries in Georgia by number of ... Jan 9, 2023 · The SBA has closely scrutinized just a tiny portion of PPP loans for fraud and forgiveness eligibility. The agency said it used computer models to review all 11.4 million loans, but that auditors ... Last year’s congressional report on PPP fraud said federal prosecutors have filed more than 1,000 cases of PPP fraud involving more than $1.5 billion in losses to taxpayers and that fraud in the ...Oct 11, 2023 · A federal grand jury in the Western District of Tennessee returned an indictment yesterday charging 10 individuals for their roles in schemes to defraud the Economic Injury Disaster Loan (EIDL) program and the Paycheck Protection Program (PPP), federal stimulus programs authorized as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. PPP Loan Recipient List By State —. Pennsylvania. 342,421 TOTAL PPP LOANS. $30.5B TOTAL LOAN AMOUNT. $88,977 AVERAGE PPP LOAN. 10 AVG COMPANY SIZE. Pennsylvania has a total of 342,421 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration.ALEXANDRIA, Va. – Latifa Brooks, a resident of McLean, has agreed to pay $107,347 to settle a civil fraud case alleging that she fraudulently applied for and received two Paycheck Protection Program (PPP) loans and subsequently fraudulently obtained forgiveness on both loans. On March 31, 2022, the United States filed a Complaint …Oct 12, 2023 ... Sheriff: 'How can we have anyone wearing a badge that is stealing from the American people?' · Alexandra Acosta, 37 · George Anthony III, 50.Sep 9, 2021 · PPP loans and fraud – the red flags that could have been spotted. Approximately $800 billion went out in the CARES Act’s Paycheck Protection Program (PPP), providing nearly 12 million loans between April 2020 and May 2021 to U.S. businesses. These loans are all potentially fully “forgivable,” so calling them loans is not exactly accurate. Once the PPP loans were funded, the co-conspirators would pay her up to $5,000 for making and submitting the false loan applications. In addition to the wire fraud conspiracy, Daisha Sanders is charged with one count of wire fraud and each of the remaining defendants is charged with aiding and abetting Daisha Sanders in one count …Francis J. Battista, 37, of Aston, Pennsylvania, filed 19 fraudulent applications for PPP and EIDL loans in 2020 and 2021, seeking over $10 million in loans. Battista allegedly supported his fraudulent loan applications by submitting fake tax documents, bank records and payroll summaries.OXFORD, Miss. — A Mississippi businessman has been sentenced to more than six years in prison for misusing over $6 million in business loans through a coronavirus pandemic relief program ...Aug 10, 2022 · The indictment alleges that the defendants defrauded lenders of approximately $2.49 million in PPP loans and defrauded the SBA of approximately $256,500 in EIDL funds. Much of the money was allegedly used for the defendants’ personal benefit, including the purchase of real estate and the lease and purchase of luxury automobiles. Earlier this year, the DOJ announced the first civil settlement of a PPP loan fraud case. The case involved charges against a company and its CEO that obtained a $350,000 PPP loan after submitting ...get approval of an SBA loan, but requires any payment up front or offers a high interest bridge loan in the interim, suspect fraud. • SBA limits the fees a broker can charge a borrower to 3% for loans $50,000 or less and 2% for loans $50,000 to $1,000,000 with an additional ¼% on amounts over $1,000,000, with a maximum fee of $30,000.IR-2022-162, September 21, 2022. WASHINGTON — The Internal Revenue Service recently issued guidance addressing improper forgiveness of a Paycheck Protection Program loan (PPP loan) PDF.. The guidance confirms that, when a taxpayer's loan is forgiven based upon misrepresentations or omissions, the taxpayer is not eligible to …Based on the false representations she made in the loan application, The Little Piglet Soap Company received a PPP loan for $414,375. The indictment, which was returned by a grand jury on July 7, 2020, charged Tubbs with two counts of bank fraud, two counts of making a false statement on a loan application, and one count of engaging in a ...As part of the Paycheck Protection Program, the federal government has provided hundreds of billions in financial support to banks to make low-interest loans to companies and nonprofit organizations in response to the economic devastation caused by the coronavirus pandemic. Search more than 11 million loans approved by lenders and disclosed by the Small Business Administration. | <a href ...Fraudsters, however, took advantage of the program. In June, the SBA reported that over the course of the pandemic it disbursed a total of $1.2 trillion in both PPP and COVID-19 Economic Injury Disaster Loans (EIDL). EIDL loans were intended to provide small businesses with both working capital and operating funds.Search more than 11 million loans approved by lenders and disclosed by the Small Business Administration. | Frequently Asked Questions →. by Moiz Syed and …Are you considering applying for the PPP Loan? Be careful people.*ppp loan fraud arrests.The PPP Loan Fraud List - PPP Fraud | Who got a PPP LOAN 2021 She ex...Oct 13, 2023 · Six workers have resigned, and Cyranoski recommended firing the other one, who got $40,000 from two PPP loans and $10,000 from the Economic Injury Disaster program, according to the report. Related As an individual subject to federal indictment, Geronimo was prohibited from applying for a PPP loan on behalf of any entities he controlled. Despite that, he applied for and received a fraudulent PPP loan for approximately $250,000 for a liquor store business under his control based on falsified payroll tax documentation submitted by Dorlus.

PPP Loan Recipient List By State —. Mississippi. 138,393 TOTAL PPP LOANS. $5.4B TOTAL LOAN AMOUNT. $39,229 AVERAGE PPP LOAN. 5 AVG COMPANY SIZE. Mississippi has a total of 138,393 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration. This table shows the top 5 …. Manacled download

Reason You Suspect PPP Fraud: Fill in below the reason (s) you suspect the individual (s) are involved in possible unemployment and PPP fraud. Please review the information you have provided. You may print this page prior to submitting. Once your information has been entered, you may select the "Submit" button to submit your report.The PRAC identified $5.4 billion in potential identity fraud associated with 69,323 questionable and unverified SSNs used across disbursed COVID-19 EIDL and PPP applications—that is, applications that successfully received a loan and/or grant. Eligibility for these disbursements could have been questioned further by SBA before the loan …The report, called " COVID-19 Pandemic EIDL and PPP Loan Fraud Landscape ," details how the rush to make the money available made it easier for fraudsters to apply for loans to keep...PPP Borrower Search. Search for a borrower, or if you want to see how many people received loans in your state and other interesting facts, check out our PPP dashboard.The PPP program gave out hundreds of billions of dollars in forgivable loans to be used to keep businesses afloat during the early months of the COVID-19 pandemic, but it has been rife with fraud ...The fraud estimate for the EIDL program is more than $136 billion, while the PPP fraud estimate is $64 billion. In earlier estimates, the SBA inspector general said about $86 billion in fraudulent ...Feb. 6, 2024 — Three people were sentenced today for fraudulently obtaining and misusing Paycheck Protection Program (PPP) loans that the U.S. Small Business …Track the False Claims Act cases involving Paycheck Protection Program fraud since 2021. See the case details, settlement amounts, and related documents for …The PPP program gave out hundreds of billions of dollars in forgivable loans to be used to keep businesses afloat during the early months of the COVID-19 pandemic, but it has been rife with fraud ...A congressional report says financial technology companies fueled rampant PPP fraud. A congressional report found financial technology companies, or fintechs, largely fueled PPP loan fraud ...Aug 10, 2022 · The indictment alleges that the defendants defrauded lenders of approximately $2.49 million in PPP loans and defrauded the SBA of approximately $256,500 in EIDL funds. Much of the money was allegedly used for the defendants’ personal benefit, including the purchase of real estate and the lease and purchase of luxury automobiles. Francis J. Battista, of Aston, Pennsylvania, filed 19 fraudulent applications for PPP and EIDL loans in 2020 and 2021, seeking over $10 million in loans. Battista …He received over $230,000 in PPP loans for businesses he controlled and received a percentage of loan proceeds for assisting in submitting fraudulent applications on behalf of others. The counts of conspiracy to commit bank fraud and bank fraud each carry a maximum penalty of 30 years in prison and a $1 million fine.PPP Loan Recipient List By State —. Florida. 983,334 TOTAL PPP LOANS. $50.1B TOTAL LOAN AMOUNT. $50,905 AVERAGE PPP LOAN. 6 AVG COMPANY SIZE. Florida has a total of 983,334 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration. This table shows the top 5 industries in Florida …November 22, 2022 — A Somerset County, New Jersey, man admitted fraudulently obtaining over $850,000 in federal Paycheck Protection Program (PPP) loans U.S. Attorney Philip R. Sellinger, announced today..

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