DOJ Takes Action Against PPP Fraud

DOJ Takes Action Against PPP Fraud

( – The coronavirus pandemic has resulted in a lot of scams, and even the Paycheck Protection Program (PPP) has been the targeted of alleged fraudsters. President Donald Trump’s administration, however, is tackling the problem.

On September 10, the DOJ announced 57 people are being charged with stealing $175 million from the PPP. Law enforcement officials believe at least 500 others have defrauded the program.

One of the individuals indicted is former NY Jets player Josh Bellamy. Authorities say he allegedly took out a $1.2 million PPP loan for his business, Drip Entertainment LLC. He’s being accused of using more than $100,000 to buy high-priced, luxury items.

The PPP was supposed to help small business owners who needed money to make it through the COVID-19 pandemic. Instead, the distribution of funds has been a nightmare. Not only have people committed fraud, but big businesses also received hefty payouts. As a result, many of the citizens who needed it the most are out of luck.

This crackdown is a great start to making it right.

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