 |
|
A new report is citing data that suggests fraud in the Paycheck Protection Program or PPP prompted the Small Business Administration to refer a record number of cases to federal prosecutors.
The SBA, which administers the PPP, made 91 criminal referrals to the Department of Justice in the fiscal year ending in September 2020, more than any year in the past 20, according to a report from the Transactional Records Access Clearinghouse or TRAC, at Syracuse University.
The PPP was part of the $2.2 trillion CARES Act passed last March, which included $659 billion for helping businesses keep their workforce employed during the pandemic. The program provided low-interest loans that could be partially or totally forgiven under certain conditions, such as keeping employees on the payroll.
|
|
|
|
