Ppp Loan Investigation 2024. In one application, yates sought $5 million in ppp loan proceeds by fraudulently claiming to have over 400 employees with an average monthly payroll of more than $2 million. Rather, they admitted using those funds.
Small business administration (“sba”) is auditing all companies that received ppp loans of $2 million or greater, while the department of justice (“doj”) and other. 4 sentenced to 8 to 10 years in prison for millions of dollars in ppp loan fraud it’s true that people have been arrested, charged and convicted for fraud regarding.