this post was submitted on 27 Jun 2023
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NPR: Over $200 billion in pandemic business loans appear to be fraudulent, a watchdog says (www.npr.org)
submitted 1 year ago by sendingmath@kbin.social to c/news@kbin.social
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The Office of Inspector General of the Small Business Administration has released a "landscape of fraud" report highlighting why 17% of PPP and other loans appear bogus.

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[–] smokinjoe@kbin.social 17 points 1 year ago (1 children)

I should have defrauded a bunch of PPP loans to help people with their college loans.

[–] SpacemanSpiff@kbin.social 3 points 1 year ago (1 children)

I legitimately wish I thought of this sooner. Also would help if I had a company to apply with lol. It seems like there was literally nothing stopping this from happening if someone thought of it/was willing to take the risk.

[–] Zorque@kbin.social 7 points 1 year ago (1 children)

There was plenty to stop it, namely huge corporations swooping in to grab them before smaller companies even had the chance.