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At the same time the SBA is doing all of this to ease the loan review process, it has also been making more criminal referrals to the Justice Department to pursue potential fraud cases. Syracuse University’s Transactional Records Access Clearinghouse reported Wednesday that the SBA made more criminal referrals to federal prosecutors in fiscal year 2020 — a total of 91 — than in any year in the past two decades. The number of referrals started increasing last April after efforts began to identify those who submitted fraudulent applications for the PPP loans.
SBA referrals to criminal prosecutors also remained higher than usual during the first three months of fiscal year 2021, from October to December 2020. Between April 2020 and the end of December 2020, the SBA made a total of 102 new referrals.
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