The Paycheck Protection Program, aka PPP, was the main financial lifeline to small businesses negatively impacted by the COVID-19 pandemic. Billions of dollars in loans were made, and millions of jobs were saved. But there was also a remarkable amount of fraud. In this episode, Caleb and Greg discuss two cases that exemplify PPP fraud: big, brazen, baffling. That’s right, it’s BBB PPP.
- Complaint against David T. Hines
- DOJ press release for charges against David T. Hines.
- DOJ press release for guilty plea of David T. Hines
- DOJ press release for sentencing of David T. Hines
- How Bad Was Virus Aid Fraud? One Banker Was ‘Frustrated With Humanity’ [NYT]
- The $800 Billion Paycheck Protection Program: Where Did the Money Go and Why Did it Go There? [NBER]
- Did FinTech Lenders Facilitate PPP Fraud? [via NYT]
- 'Biggest fraud in a generation': The looting of the Covid relief plan known as PPP [NBC]
- Tarzana Couple flees while under house arrest for PPP fraud — LA Times
- Three fugitives captured in Montenegro - NBC News
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Greg Kyte, CPA
Full transcript available upon request