PAYCHECK PROTECTION PROGRAM

Seven people have been arrested in connection with a scheme to defraud the federal government for $7.5 million through the Paycheck Protection Program, the Justice Department reports.

An NPR analysis of data released by the Small Business Administration shows the vast majority of Paycheck Protection Program loans have been forgiven, even though the program was rampant with fraud.

Fraud in the Paycheck Protection Program, which gave potentially forgivable loans to small businesses during the pandemic, was largely due to financial technology companies, according to a new report.

A House investigations panel says financial technology firms “abdicated” their responsibility to screen out fraud in applications for a federal program designed to help small businesses stay open and keep workers employed during the pandemic.

Officials promised a robust review process before forgiving PPP loans, but most loans could be forgiven with a simple, one-page form. Meanwhile, just 2% of loans have gotten close, hands-on reviews.

Government probe shows scammers used the Social Security numbers of more than 200,000 dead people to claim jobless benefits.

Law enforcement officials said some suspects used jail phones to complete the PPP loan process; some spent the PPP money to bond out of jail.

Illinois police and federal agencies arrested 15 people and are looking for several more after they allegedly used PPP funds to bond out of jail during the pandemic.

Illinois Sen. Dick Durbin's son was a victim of fraud related to the Paycheck Protection Program, the Democratic lawmaker told reporters on Monday.

"President Biden and his puppets in the media eagerly lie to the American people because the truth isn't popular," Rubio wrote of student-loan relief.

Potbelly, which returned its first $10 million PPP loan under pressure, received notice from the SBA that a second $10 million PPP loan will be fully forgiven.

After obtaining the fraudulent loan proceeds, the defendants engaged in unlawful monetary transactions with the proceeds of the scheme, including making $30,000 payments to family members. Izzat Freitekh was convicted of one count of conspiracy to commit money laundering, three counts of money laundering, and one count of making false statements. He faces up to 10 years in prison for conspiracy to commit money laundering, 10 years in prison for each of the money laundering counts, and five years in prison for the false statements count. Tarik Freitekh was convicted of one count of conspiracy to commit wire fraud, one count of bank fraud, one count of conspiracy to commit money laundering, one count of money laundering, and one count of falsifying and concealing material facts. He faces up to 30 years in prison for the bank fraud count, 20 years in prison for the wire fraud and money laundering conspiracies, 10 years in prison for the money laundering count, and five years in prison for the falsifying material facts count.

After their Paycheck Protection Program loan applications were rejected, some small business owners got creative to stay afloat during the Covid pandemic.

Federal prosecutors say a South Florida man tried to obtain more than $4.2 million in COVID-19 relief funds by filing false loan applications.

Criminals are cashing in on the vast amounts of federal aid for people and businesses hurt by the pandemic.

Two South Florida men have pleaded guilty in Ohio to leading a nationwide scheme to fraudulently obtain over $35 million in COVID-19 relief loans.

Augustin and Stote obtained a fraudulent PPP loan for Augustin’s company, Clear Vision Music Group LLC, using falsified documents. Stote and Augustin recruited additional PPP loan applicants and prepared and submitted fraudulent loan applications for them in exchange for a share of the loan proceeds. They submitted or facilitated at least 79 fraudulent loan applications worth at least $35 million and planned to submit more. “Fraud against PPP programs directly harms taxpayers and undermine public trust in essential government support during the pandemic. “Theft of government funds will not be tolerated, and prosecuting PPP fraud remains a priority for law enforcement.”Stote and Augustin each pleaded guilty to conspiracy to commit wire fraud.

A Texas man was arrested today for allegedly fraudulently obtaining over $3.3 million in Paycheck Protection Program (PPP) loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Davis spent a large portion of the PPP loan funds on private jet travel, real estate, and luxury vehicles. The defendant is scheduled for his initial court appearance today before U.S. Magistrate Judge Christina A. Bryan of the U.S. District Court for the Southern District of Texas. Assistant Attorney General Kenneth A. Trial Attorney Edward E. Emokpae of the Criminal Division’s Fraud Section and Assistant U.S. Attorney John Wakefield of the U.S. Attorney’s Office for the Southern District of Texas are prosecuting the case.

A former National Football League (NFL) player was sentenced today to 37 months in federal prison for fraudulently obtaining over $1.2 million through a Paycheck Protection Program (PPP) loan guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. As part of the fraud scheme, Bellamy obtained a PPP loan of $1,246,565 for his company, Drip Entertainment LLC, using falsified documents and false information. In addition, a Florida woman was sentenced on Dec. 9 to two years in federal prison for fraudulently obtaining a PPP loan as part of this criminal scheme. Bain used the PPP loan proceeds to enrich herself and others who never worked for her company. Stote was charged by complaint on June 24, 2020, with wire fraud, bank fraud, and conspiracy to commit wire fraud and bank fraud.

Through these loan applications, Kasali sought over $3.8 million in PPP loan funds. Kasali falsely represented the number of employees and payroll expenses in each of the PPP loan applications. Kasali ultimately received over $1.9 million in PPP loan funds. Kasali was convicted of two counts of making false statements to a financial institution and two counts of bank fraud. The Fraud Section leads the Criminal Division’s prosecution of fraud schemes that exploit the PPP.

Lee Price III falsely misrepresented the status of three companies, and used the money to spend thousands on a strip club, properties and luxury items.

Lee Price III falsely misrepresented the status of three companies, and used the money to spend thousands on a strip club, properties and luxury items.

Through these loan applications, Price sought over $2.6 million and actually obtained over $1.6 million in PPP loan funds. Price falsely represented the number of employees and payroll expenses in each of the PPP loan applications. To support the fraudulent PPP loan applications, Price also submitted fraudulent tax records and other materials. Illustratively, with respect to the 713 Construction LLC loan application, Price applied in the name of an individual who died shortly before the application was submitted. Assistant Attorney General Kenneth A.

A federal jury convicted a Florida woman on Nov. 24 for fraudulently obtaining a Paycheck Protection Program (PPP) loan guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Those loan applicants sought more than $3.3 million in fraudulent PPP loans and obtained nearly $2 million in PPP loan proceeds. Bostic was convicted of conspiracy to commit bank fraud and wire fraud and three counts of wire fraud. She was found not guilty of bank fraud. Stote was charged by information on Nov. 10 with wire fraud, bank fraud, and conspiracy to commit wire fraud.

A Florida tax preparer was charged in an indictment filed in the Eastern District of Pennsylvania yesterday with scheming to fraudulently obtain more than $7 million in Paycheck Protection Program (PPP) loans, Economic Injury Disaster Loans (EIDL) and pre-pandemic Small Business Administration (SBA) loans, and to launder the proceeds of the illegal scheme. Osborne also provided a “script” to scheme participants to use in calls with lenders. Osborne and the California co-conspirators allegedly obtained over $7.3 million in PPP, EIDL, and SBA loans. Osborne is charged with conspiracy to commit wire and bank fraud, wire fraud, bank fraud, and conspiracy to commit money laundering. Polite Jr. of the Justice Department’s Criminal Division; U.S. Attorney Jennifer Arbittier Williams for the Eastern District of Pennsylvania; Special Agent in Charge Amaleka McCall-Brathwaite of the Small Business Association Office of Inspector General (SBA-OIG) Eastern Region; Special Agent in Charge Yury Kruty of IRS-Criminal Investigation (IRS-CI) Philadelphia Field Office; Special Agent in Charge Brian Michael of Homeland Security Investigations (HSI) Philadelphia Field Office; and Acting Assistant Director Jay Greenberg of the FBI's Criminal Investigative Division made the announcementThis case was investigated by the SBA-OIG, IRS-CI, HSI’s Philadelphia Field Office, and the FBI’s Philadelphia Field Office.

A federal jury convicted a Seattle doctor yesterday of fraudulently seeking over $3.5 million in Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) COVID-19 relief funds. In the applications, Shibley falsified the number of employees and payroll expenses and concealed his own criminal history. Shibley received over $2.8 million in COVID-19 relief funds as a result of the fraud. Shibley was convicted of multiple counts of wire fraud, multiple counts of bank fraud, and money laundering. Assistant Attorney General Kenneth A.

A South Florida tax preparer was sentenced today to two years in prison for perpetrating a scheme to fraudulently obtain over 100 COVID-19 relief loans under the Paycheck Protection Program (PPP). According to court documents, Leonel Rivero, 35, of Miami, owned a tax-preparation business and submitted approximately 118 fraudulent PPP loan applications on behalf of himself and his accomplices. On each loan application, Rivero falsified the applicant’s prior-year sole proprietorship income and expenses and submitted fraudulent IRS tax forms. Assistant Attorney General Kenneth A. The Fraud Section leads the Criminal Division’s prosecution of fraud schemes that exploit the PPP.

Azeemuddin and Malik also conspired to and did launder over $3 million in PPP loan funds through Azeemuddin’s business, Fascare International Inc., dba Almeda Discount Store (Almeda). As part of the scheme, Azeemuddin instructed Malik to fill out blank checks from companies that received PPP loans by putting the names of fake employees in the payee line. Azeemuddin pleaded guilty to one count of conspiracy to commit wire fraud and one count of money laundering. Malik pleaded guilty to one count of conspiracy to commit wire fraud and money laundering. Attorneys Rodolfo Ramirez and Kristine Rollinson of the Southern District of Texas are prosecuting the case.

A federal grand jury in Shreveport, Louisiana, returned an indictment yesterday charging a Louisiana man with fraudulently obtaining more than $1.1 million in Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) Program loans. According to the indictment, Tolliver falsified information in the loan applications and supporting documents, including falsely claiming that some of his businesses had over 100 employees. In total, Tolliver sought more than $7.6 million in PPP and EIDL Program loans and obtained more than $1.1 million. Tolliver is charged with two counts of wire fraud and three counts of money laundering. The Fraud Section leads the Criminal Division’s prosecution of fraud schemes that exploit the PPP.

Sextant Marine Consulting LLC (Sextant), a Florida-based duct cleaning company, has agreed to pay $30,000 in damages and civil penalties to settle allegations that it violated the False Claims Act by obtaining more than one Paycheck Protection Program (PPP) loan in 2020. The CARES Act authorized billions of dollars in forgivable loans to small businesses struggling to pay employees and other business expenses. Throughout 2020, PPP loan applicants were required to certify that they would not receive more than one PPP loan prior to Dec. 31, 2020. This settlement resolves allegations that Sextant applied for and received a second, duplicative PPP loan in 2020. The claims resolved by the settlement are allegations only, and there has been no determination of liability.

Prosecutors say the card cost the Georgia man $57,789 — more than two-thirds of his federal aid that officials say was based on false information.

A Georgia man was sentenced today to 18 months in federal prison for fraudulently obtaining $285,742 through a Paycheck Protection Program (PPP) loan guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security Act. Dennes Garcia, 28, of Atlanta, pleaded guilty in the Southern District of Florida to conspiracy to commit wire fraud on July 6. Stote was charged by complaint on June 24, 2020, with wire fraud, bank fraud, and conspiracy to commit wire fraud. The Fraud Section leads the department’s prosecution of fraud schemes that exploit the PPP. Since the PPP began, Fraud Section attorneys have prosecuted more than 100 defendants in more than 70 criminal cases.

In these fraudulent applications, Blotnick falsified various information, including the number of his employees, the federal tax returns for his businesses, and payroll documentation. Blotnick sought more than $6.8 million in total PPP loans and obtained more than $4.6 million. Blotnick pleaded guilty to one count of wire fraud and one count of money laundering. A federal district court judge will determine any sentence after considering the U.S. Since the PPP began, Fraud Section attorneys have prosecuted more than 100 defendants in more than 70 criminal cases.

Ozy Media took two pandemic loans for a total of $5.7 million earmarked for payroll relief, but ex-staffers say they didn't get any of the money.

The Small Business Administration has released additional data about loans under the Paycheck Protection Program, complying with a federal court order as part of a lawsuit by The Washington Post and other media organizations.

George, Womble, Sims and Vidal are each charged with one count of conspiracy to commit wire fraud. Womble, Sims and Vidal each face a maximum penalty of 20 years in prison. George, Womble and Sims are scheduled to make their initial appearances today in the Eastern District of Michigan. The Fraud Section leads the department’s prosecution of fraud schemes that exploit the PPP. Since the PPP began, Fraud Section attorneys have prosecuted more than 100 defendants in more than 70 criminal cases.

A Texas man pleaded guilty today in the Southern District of Texas to fraudulently obtaining more than $1.6 million in Paycheck Protection Program (PPP) loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief and Economic Security (CARES) Act. The 713 Construction LLC PPP loan application was made in the name of an individual who died shortly before the application was submitted. Through these two PPP loan applications, Price sought and obtained over $1.6 million in PPP loan funds. Price falsely represented the number of employees and payroll expenses in each of the PPP loan applications. Assistant Attorney General Kenneth A.

Based on Shah’s false representations and forged documents, an SBA-approved lender provided over $1.5 million in PPP loan funds to Shah. Assistant Attorney General Kenneth A. Trial Attorney Della Sentilles and Louis Manzo of the Criminal Division’s Fraud Section and Assistant U.S. Attorneys Frank Coan and Bob Wells of the Eastern District of Texas prosecuted the case. On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud.

Michael Bischoff, 60, of Macomb County, pleaded guilty to bank fraud on Nov. 23, 2020, in the Eastern District of Michigan. In total, Bischoff fraudulently sought approximately $931,000 in COVID-19 relief funds and received approximately $593,590. Assistant Attorney General Kenneth A. Since the PPP began, Fraud Section attorneys have prosecuted more than 100 defendants in more than 70 criminal cases. On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud.

According to court documents, Mohan sought more than $5.5 million through eight fraudulent disaster loan applications. In support of the fraudulent loan applications, Mohan submitted fake and altered documents, including fake federal tax filings and altered incorporation documents. In support of Mahenjo’s loan application, Mohan submitted false incorporation documents and tax forms suggesting that the company had been in business prior to 2020. Five of Mohan’s eight fraudulent loan applications were approved, and he fraudulently obtained nearly $1.8 million in COVID-19 relief funds. Assistant Attorney General Kenneth A.

Two Jacksonville residents are accused of defrauding the federal Paycheck Protection Program and then trying to cover their tracks afterward.

In support of the fraudulent PPP loan applications, Hsu submitted fake federal tax filings. Six of Hsu’s nine fraudulent loan applications were approved, and he fraudulently obtained more than $700,000 in COVID-19 relief funds. Assistant Attorney General Kenneth A. This case was investigated by the TIGTA, SSA – Office of Inspector General (OIG), SBA – OIG, and HSI. In May, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud.

The Centers for Disease Control and Prevention on Tuesday issued a new moratorium on evictions that would last until Oct. 3.

Andre Clark, 48, of Miramar, pleaded guilty to one count of conspiracy to commit wire fraud on May 14, 2021. Clark admitted to seeking $6,774,999 in fraudulent PPP loans through other conspirators that he referred to the scheme. James Stote was charged by complaint on June 24, 2020, with wire fraud, bank fraud, and conspiracy to commit wire fraud, and his case remains pending. The Fraud Section leads the department’s prosecution of fraud schemes that exploit the PPP. In the months since the PPP began, Fraud Section attorneys have prosecuted more than 100 defendants in more than 70 criminal cases.

The portal, expected to launch August 4, will apply to businesses that have Paycheck Protection Program loans of $150,000 or less.

Trial Attorneys Laura Connelly and Leslie S. Garthwaite of the Criminal Division’s Fraud Section and Assistant U.S. Attorney Stephen Ingraham of the Eastern District of Wisconsin are prosecuting the case. The Fraud Section leads the department’s prosecution of fraud schemes that exploit the PPP. In the months since the PPP began, Fraud Section attorneys have prosecuted more than 100 defendants in more than 70 criminal cases. In May, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud. Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud Hotline at 866-720-5721 or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

A California man was arrested Thursday on criminal charges related to his alleged scheming to submit fraudulent loan applications seeking millions of dollars in Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) COVID-19 relief funds. The indictment alleges that Tran sought in excess of $8 million in PPP and EIDL funds, obtained over $3.6 million in illicit loan proceeds, and ultimately netted approximately $2 million from the scheme. Tran is charged with six counts of wire fraud and three counts of bank fraud. Trial Attorney Christopher Jackson of the Criminal Division’s Fraud Section and Assistant U.S. Attorney Sarah Griswold of the Northern District of California are prosecuting the case. An indictment is merely an allegation and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

A federal jury convicted four California residents on June 25, for scheming to submit fraudulent loan applications seeking millions of dollars in Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) COVID-19 relief funds. Vahe Dadyan, 41, of Glendale was found guilty of one count of conspiracy to commit bank fraud and wire fraud, six counts of wire fraud, three counts of bank fraud, one count of conspiracy to commit money laundering, and one count of money laundering. Prior to the verdict, the following defendants pleaded guilty to criminal charges in this case:Manuk Grigoryan, 46, of Sun Valley, pleaded guilty on June 7, to one count of bank fraud and one count of aggravated identity theft. Edvard Paronyan, 40, of Granada Hills, pleaded guilty on June 11, to one count of wire fraud. Arman Hayrapetyan, 41, of Glendale, pleaded guilty on June 21, to one count of conspiracy to commit money laundering.

A Wisconsin man was sentenced today to 57 months in prison for fraudulently obtaining over $1 million in Paycheck Protection Program (PPP) loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. According to court documents and statements, Smith fraudulently sought over $1.2 million in PPP loans through applications to a federally insured financial institution on behalf of eight different companies. Based on these representations, the financial institution approved and funded over $1 million in loans. The Fraud Section leads the department’s prosecution of fraud schemes that exploit the PPP. In the months since the PPP began, Fraud Section attorneys have prosecuted more than 100 defendants in more than 70 criminal cases.

Carmelo Ramos was left without a second-draw PPP loan when he gave back the cash because he qualified for more money. Then the program ended unexpectedly.

In the second application, Shah sought over $1.5 million in PPP loan proceeds by fraudulently claiming that WBF had 126 employees with an average monthly payroll of over $600,000. In connection with both PPP loan applications, Shah submitted fraudulent Employer’s Quarterly Federal Tax Return (IRS Form 941) documents for 2019. Shah admitted that he obtained over $1.5 million in PPP loan proceeds. PPP loan proceeds must be used by businesses on payroll costs, interest on mortgages, rent, and utilities. In the months since the CARES Act passed, Fraud Section attorneys have prosecuted more than 100 defendants in more than 70 criminal cases.

The Paycheck Protection Program was supposed to run through May 31. But by the first week of May, it ran out of money.

Congress provided $28.6 billion for the Restaurant Revitalization Fund. Two weeks after the funds became available, more than $65 billion worth of requests have come in.

Just $8 billion remains in the program, earmarked for companies headed by women or minorities.

President Joe Biden has made a Cinco de Mayo taco and enchilada run to highlight his administration’s $28.6 billion program to help eateries that lost business because of the coronavirus pandemic.

Just $8 billion remains in the program, earmarked for companies headed by women or minorities.

The government's key COVID-19 relief program for small businesses has run out of money.

President Joe Biden has made a Cinco de Mayo taco and enchilada run to highlight his administration’s $28.6 billion program to help eateries that lost business because of the coronavirus pandemic.

Federal prosecutors say a central Florida couple tried to obtain more than $5.8 million in coronavirus relief funds by filing false loan applications.

MIAMI – A Florida business owner has been convicted of illegally receiving more than $2 million in coronavirus relief funds. Prosecutors said he claimed the funds would only be used for business-related purposes, such as retaining workers and paying bills. Crowther concealed the scheme by providing false explanations for the expenditures to his bank, prosecutors said. AdThe Paycheck Protection Program represents billions of dollars in forgivable small business loans for Americans struggling because of the COVID-19 pandemic. It's part of the Coronavirus Aid, Relief and Economic Security Act, which became federal law in March.

WASHINGTON – The Senate passed a bill 92-7 on Thursday to extend the deadline for business owners to apply for forgivable loans through the Paycheck Protection Program, giving applicants two more months to apply for federal aid. The bill had already passed the House, so it now goes to President Joe Biden’s desk to be signed into law. Congress started the loan program last year to help businesses survive the COVID-19 pandemic. Business groups lobbied lawmakers to keep the program going to help ensure businesses that still need help can get it. The Small Business Administration reports that it has approved nearly 7.9 million loans totaling about $704 billion.

MIAMI – A South Florida tax preparer received nearly $1 million in coronavirus relief funds after submitting more than 100 fraudulent applications for himself and others, federal prosecutors said. Leonel Rivero, 35, of Miami, was charged Tuesday with wire fraud, according to court records. His first appearance hearing in Miami federal court is set for next Tuesday. Those loan applications sought a total of more than $2.3 million, and Rivero and his accomplices received approximately $975,582, investigators said. On each loan application, Rivero falsified the applicant’s prior-year income and expenses and submitted fraudulent IRS tax forms, officials said.

(AP Photo/Alex Brandon)WASHINGTON – The Senate on Tuesday overwhelmingly approved President Joe Biden's pick to oversee the Small Business Administration, an agency that has seen its portfolio expand in response to the coronavirus pandemic. Guzman is a former Obama administration SBA official who currently heads California’s Office of the Small Business Advocate. In that role, she oversaw efforts to help that state’s small businesses survive the pandemic. The Small Business Administration oversees loan programs to help businesses recover from natural disasters, enhances access to capital through loan guarantees and provides training and technical assistance. Guzman said she would work to ensure money gets into the hands of the small businesses hurt the most by the pandemic and the economic crisis through no fault of their own.

WASHINGTON – President Joe Biden visited a hardware store in the nation’s capital Tuesday to highlight changes he made to the Paycheck Protection Program to benefit small businesses he says were overlooked by the Trump administration earlier in the coronavirus pandemic. Biden administration officials announced last month that for two weeks starting on Feb. 24, the Small Business Administration would only accept applications for the forgivable loan program from firms with fewer than 20 employees. The exclusivity period for small businesses ends Tuesday, with White House officials reporting that the effort led to a 20% increase in minority businesses and a 14% increase in women businesses receiving loans. The Biden administration also changed eligibility rules for the program. AdTrump administration officials argued the program primarily benefitted smaller businesses because a vast majority of the loans in the first months of the program were for less than $150,000.

The Obama administration closed the nuclear deal without making the freeing of American citizens in Iran a prerequisite. The Trump administration then failed to push for the release of the Namazi father and son as hard as it did other Americans held by Iran, Babak Namazi said. Jake Sullivan, the U.S. national security adviser, called Iran’s continued detention of American citizens a “humanitarian catastrophe” on a news show this Sunday. “My family expects that President Biden and his administration will not make concessions or deals with Iran” absent a requirement that Iran free the father and son, Babak Namazi told reporters. The 84-year-old found that Iran's Revolutionary Guard had unexpectedly placed a new block on his travel out of Iran, however, Babak Namazi said.

(AP Photo/Evan Vucci)WASHINGTON – President Joe Biden announced changes Monday to target more federal pandemic assistance to the nation’s smallest businesses and ventures owned by women and people of color. Biden says a lot of these mom and pop businesses “got muscled out of the way” by larger businesses seeking federal money in the early days of the pandemic. "America’s small businesses are hurting, hurting badly and they need help now,” Biden said. Under the pandemic-era Paycheck Protection Program, the administration is establishing a two-week window, starting Wednesday, in which only businesses with fewer than 20 employees — the overwhelming majority of small businesses — can apply for the forgivable loans. The Biden effort is aimed at correcting disparities in how the program was administered by the Trump administration.

A South Florida man has pleaded guilty to fraudulently obtaining $3.9 million in federal coronavirus loans and using some of the money to buy a Lamborghini Huracan. David Hines, of Miami, rubbed his forehead in apparent shame as he pleaded guilty to federal charges including bank fraud at a hearing Wednesday held via videoconference because of COVID-19 restrictions. Instead, he used the proceeds to go on a spending spree that included shelling out $318,000 on a Lamborghini sportscar as well as running up bills at a jewelry store and a luxury Miami Beach hotel. The Paycheck Protection Program represents billions of dollars in forgivable small business loans for Americans struggling because of the pandemic. It’s part of the Coronavirus Aid, Relief and Economic Security Act, which became federal law in March.

Given the pandemic, it’s fair to wonder how factors such as stimulus payments and Paycheck Protection Program loans could impact your filings. Below you’ll find a brief Q&A with Thomas explaining what you need to know:Do you have to claim your stimulus claims when filing your taxes? AdDoes the IRS look at stimulus payments as income? If unemployment compensation was received last year, you definitely want to include that on your tax return. Lawson hosts virtual roundtable on taxesIf you have additional questions about your taxes, stimulus payments and Paycheck Protection Program loans, you’re in luck.

A Bradenton man is accused of using some of $7.2 million he received in Paycheck Protection Program funds to buy a mansion in Chuluota, according to court records. A Bradenton man is accused of using $7.2 million he received from the federal Paycheck Protection Program to buy a mansion in Chuluota, Fla., according to court records. Don Cisternino was indicted on two counts of wire fraud, three counts of aggravated identity theft and three counts of illegal monetary transaction, WKMG-TV reported. Records show Cisternino established MagnifiCo in 2014, which was listed as a consulting company with few or no employees. Records show after the application the Small Business Administration issued $7.2 million in PPP funds to MagnifiCo.

TAMPA, Fla. – A Florida man who received more than $1.9 million in coronavirus relief funds faces up to 20 years in federal prison for laundering most of the money through a fake business and purchasing a luxury car and a pickup truck, federal prosecutors said. Keith William Nicoletta, 48, of Dade City, pleaded guilty Monday to a conspiracy to launder stolen COVID relief funds, according to the U.S. attorney's office in Tampa. He also agreed to forfeit more than $1.9 million, along with vehicles and other items he bought with the stolen money. Once the emergency loan was secured, Nicoletta transferred the money between various accounts and withdrew more than $100,000 in cash, officials said. It's part of the coronavirus relief package that became federal law in March.

MIAMI – A South Florida nurse fraudulently obtained about $420,000 in coronavirus relief funds, federal prosecutors said. Giraldo Caraballo, 55, of Miami, made his initial appearance Friday in Miami federal court. Caraballo applied for and received a Paycheck Protection Program loan on behalf of his company, Professional Skills Inc., according to a criminal complaint. The Paycheck Protection Program represents billions of dollars in forgivable small business loans for Americans struggling because of the COVID-19 pandemic. The Economic Injury Disaster Loan program is administered by the U.S. Small Business Administration.

Vaccines, testing, health providers ($69 billion). Adds $22 billion for testing, tracing and mitigation, $9 billion for health care providers, and $4.5 billion for mental health. Reauthorizes, for three years, funding for community health centers and extends a variety of expiring health care policies, including reimbursement rates for various health care providers and procedures under Medicare and MedicaidTax extenders. Business meals would be 100% deductible through 2022 and out-of-pocket health care costs would be deductible after they reach 7.5% of income. Folds in pipeline safety legislation reauthorizing operating grants and safety standards for oil and gas pipelines.

Vaccines, testing, health providers ($69 billion). Adds $22 billion for testing, tracing and mitigation, $9 billion for health care providers, and $4.5 billion for mental health. Reauthorizes, for three years, funding for community health centers and extends a variety of expiring health care policies, including reimbursement rates for various health care providers and procedures under Medicare and MedicaidTax extenders. Business meals would be 100% deductible through 2022 and out-of-pocket health care costs would be deductible after they reach 7.5% of income. Folds in pipeline safety legislation reauthorizing operating grants and safety standards for oil and gas pipelines.

Adds $22 billion for testing, tracing and mitigation, $9 billion for health care providers, and $4.5 billion for mental health. Forgives a $10 billion loan to the Postal Service provided in earlier relief legislation. Reauthorizes, for three years, funding for community health centers and extends a variety of expiring health care policies, including reimbursement rates for various health care providers and procedures under Medicare and MedicaidTax extenders. Business meals would be 100% deductible through 2022 and out-of-pocket health care costs would be deductible after they reach 7.5% of income. Folds in pipeline safety legislation reauthorizing operating grants and safety standards for oil and gas pipelines.

FILE - In this Nov. 2, 2020 file photo, a man walks past the boarded-up first floor windows of a Huntington Bank branch in Columbus, Ohio. Huntington, with $120 billion in assets, outsizes TCF, which has assets of around $50 billion. The TCF brand will be changed to Huntington, and Detroit's TCF Center will be renamed after Huntington in the coming years. “We wanted to remain Detroit's hometown bank,” said TCF Financial CEO Gary Torgow, in an interview. “We are going to be much better together,” said Huntington Bank CEO Steve Steinour, noting that Huntington, along with new markets, would also get access to TCF's equipment finance business and inventory finance businesses.

FORT LAUDERDALE, Fla. – A south Florida high school basketball coach fraudulently obtained nearly $1 million in coronavirus relief funds for his consulting company, federal prosecutors said. Terrence Williams, 40, of Tamarac, made his initial appearance Friday in Fort Lauderdale federal court. Williams, the head varsity basketball coach at Stranahan High School in Fort Lauderdale, applied for and received a $984,710 loan on behalf of his company, Williams Consulting Group LLC, according to a criminal complaint. Instead of using the money for payroll, prosecutors said Williams transferred the money to other accounts. It’s part of the coronavirus relief package that became federal law in March.

TAMPA, Fla. – A Florida man who received more than $1.9 million in coronavirus relief funds is accused of laundering most of the money through a fake business and purchasing a luxury car and a pickup truck, federal prosecutors said. Nicoletta then purchased a 2020 Mercedes and a 2020 special edition Ford F-250 pickup. He also wired approximately $537,000 to a property management company in South Florida. The Paycheck Protection Program represents billions of dollars in forgivable small business loans for Americans struggling because of the COVID-19 pandemic. It's part of the coronavirus relief package that became federal law in March.

JACKSONVILLE, Fla. – Martinizing Dry Cleaning has opened its doors to the Jacksonville community for the last 18 years. “I wake up every morning my heart is pounding wondering is this going to be another day I stay in business or not." The only reason Olson says her doors are open right now is because of federal funding she received from the Paycheck Protection Program. She asked how another round of PPP funding would be used if Olson received it. Olson recently received an economic injury disaster loan that she will eventually have to pay back.

TALLAHASSEE, Fla. – Five Florida congressmen are calling for an investigation into the pandemic relief loan secured by the Florida Democratic Party in May. Republicans have used the $780,000 loan secured by the Democrats in local and national attack ads. We’ve been asking for months, but the Democratic Party of Florida has so far refused to release the loan application. Lying on a PPP loan application is a felony that carries up to five years in prison and/or a $250,000 fine. We reached out to the Democratic Party of Florida for comment on this story and requested a copy of the original loan application.

Michael Corrigan, the CEO of Visit Jacksonville, said hotel occupancy in the River City is in the 54% range, which he adds is better than most cities in the state and across the country. The Paycheck Protection Program was included in the CARES Act federal stimulus package approved in the spring by Congress. Those efforts peaked Friday when he lifted state business restrictions, such as a 50% indoor occupancy limit at restaurants. The national hotel association estimates the industry accounted for 201,433 jobs in Florida before the pandemic hit the state in March. Last Friday, Sheraton Vistana Resort, Sheraton Vistana Villages and Marriott Resorts, all in Orlando, updated layoff notifications to the state.

TALLAHASSEE, Fla. – Despite repeated calls from news organizations and the GOP, the Florida Democratic Party has so far refused to release its Payroll Protection Program loan application. Political parties were supposed to be excluded from the PPP loan program, but somehow Democrats got at least $780,000. Now, the GOP is calling for the Small Business Administration to release that information. In documents, Democrats show repaying the money to a different bank than the one that issued the loan. We also asked the Florida Democratic Party why it isn’t releasing the application, but we’ve yet to hear back from them.

(Caroline Brehman/Pool via AP)WASHINGTON – Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin expressed cautious optimism Tuesday that the U.S. economy is rebounding from the pandemic-induced recession with federal support but that more help from the government is likely needed. “We are in a very different situation than we were the last time,” when Congress enacted nearly $3 trillion in emergency financial aid, Mnuchin said. “At that time, the entire economy was shut down.”Mnuchin said that further federal aid should be focused on the most damaged sectors of the economy, such as restaurants and the travel industry. Pressed to say what types of aid the Trump administration would support in a new bill, Mnuchin said the administration would favor sending another round of $1,200 in individual payments. Mnuchin said the Treasury and the SBA had worked to make the forms simpler to fill out.

MIAMI A Florida business owner who received more than $2 million in coronavirus relief funds used about a third of that money to buy a new boat, authorities said. Crowther applied for a loan in April on behalf of his company, Target Roofing & Sheet Metal, Inc., according to a criminal complaint. Prosecutors said he claimed the funds would only be used for business-related purposes, such as retaining workers and paying bills. But shortly after receiving the money, Crowther spent $689,417 on a 2020 40-foot (12-meter) catamaran, which he registered in his name, the complaint said. It's part of the Coronavirus Aid, Relief and Economic Security Act, which became federal law in March.

$130 billion still up for grabs in Paycheck Protection ProgramPublished: June 23, 2020, 6:12 pmApproximately $349 billion worth of forgivable loans were accounted for in less than two weeks.

TALLAHASSEE, Fla. – Three in four Floridians say they’re feeling more financial strain from the COVID-19 pandemic, a recent survey found. Now credit unions, banks and state Chief Financial Officer Jimmy Patronis have teamed up to launch a new resource to help residents navigate these turbulent times. While most Floridians are feeling more financial strain from the pandemic, nearly half say they’re feeling significantly more. The site offers financial resources and advice, much of which is geared towards pandemic relief. Suncoast Credit Union CEO Kevin Johnson said learning how to create a six-month emergency fund is key in these times.

NEW YORK – Small businesses hoping for more leeway in using coronavirus loan money were disappointed as the government released instructions for seeking forgiveness for the loans. According to the instructions, loans can still be forgiven in full only if the money is spent within eight weeks of receiving it. Many small businesses say the eight-week period is too restrictive; loan forgiveness applies only for money spent through June 30. Loan forgiveness was a key factor in many owners seeking the loans. While technically they can do that, they could not get forgiveness on the money spent for unapproved items.

(AP Photo/Tony Dejak, File)NEW YORK – The Trump administration has dispensed about $530 billion to millions of small businesses to cushion them from the sharp downturn induced by the coronavirus. A challenge for many small businesses is deciding how to use the money. Moreover, many small businesses use freelancers rather than employees, especially companies that require workers with different expertise. A loan from the program can help a business — and its employees — through an immediate cash crunch. “It’s a bridge to keep businesses going and then all businesses will need to review their business model,” Asgeirsson says of the program.

(Copyright 2020 The Associated Press. All rights reserved)During a news conference Tuesday afternoon, President Donald Trump delivered remarks on supporting the nation’s small businesses through the Paycheck Protection Program. Watch the news conference in its entirety by starting the video below.

LOS ANGELES – The Los Angeles Lakers have repaid a loan of roughly $4.6 million from coronavirus business relief funds after learning the program had been depleted. The Lakers applied for the loan under the Small Business Administration’s Paycheck Protection Program, a part of the federal government's $2.2 trillion stimulus package. “The Lakers qualified for and received a loan under the Payroll Protection Program,” the statement read. The Lakers remain completely committed to supporting both our employees and our community.”ESPN first reported the Lakers’ decision. The Treasury Department issued further guidance for the loan program last week, asking companies not to apply for the funds if they don't need the cash to survive.

JACKSONVILLE, Fla. – If your business was one of millions of small businesses not covered by the Paycheck Protection Program, the $483 billion coronavirus relief bill could provide so much-needed relief. Included in the bill is $251 billion intended to refill the Paycheck Protection Program, which has already run out of nearly $350 billion intended to provide forgivable loans of up to $10 million for small businesses. RELATED: Highlights of the nearly $500B coronavirus relief billLike so many others, small business owner Allan Devault did not receive a loan through the PPP. If you’ve already applied for a PPP loan, just sit tight. But if you haven’t yet applied for a loan through the PPP, get your information and application squared away.

ORANGE PARK, Fla. – The Small Business Administration said Thursday that it reached the $349 billion lending limit for the Paycheck Protection Program. Nearly 1.7 million loans were approved for small businesses, including Poochie’s Park in Orange Park. Poochie’s Park, like many other small businesses, had to make changes amid the coronavirus pandemic, such as cutting employee hours. He found out Wednesday they could bring back their 24 full-time employees, like Kristi Cessna, and continue to pay them. For the money to run out so fast, it shows just how great the need has been for small businesses.

The Paycheck Protection Program authorizes up to $349 billion in forgivable loansIf you need help with WJXT’s or WCWJ's FCC public inspection file, call (904) 393-9801.

JACKSONVILLE, Fla. – As small business owners scramble to keep their doors open, there’s at least one option on the table that could help keep them afloat. In other words, small business owners who follow the program’s rules will not be required to pay all of it back down the road. "I spend more time with these girls than anyone in my life.”The majority of her clients are other small businesses. Fagien has savings, but she said with as small and as new of a business like her business, she can only make it work for so long. She said she feels like she’s getting the short end of the stick as a really small business, dealing with a bigger bank.

JACKSONVILLE, Fla. – Desperate small business owners who hoped for a quick government lifeline to help them survive the coronavirus crisis are still without funds, instead are battling red tape, wary banks and swamped computer systems. Under this loan program, businesses with up to 1,500 employees can receive up to a $2 million, long-term loan. Thousands of others who sought relief through Small Business Administration economic injury disaster loans have waited even longer — some since mid-March. “These systems are not built for massive volumes,” said Karen Kerrigan, president of the advocacy group Small Business & Entrepreneurship Council. Small business owners have also found the economic injury disaster loans problematic.

Many small business owners ran into bureaucratic or technological road blocks. A major trade group for small businesses complained that too many of its members were “shut out” from getting loans. Bank of America alone said 75,000 small businesses had applied for $7 billion of loans. Bank of America, for example, said the loans were available to customers who had business deposit accounts and business loans with the bank. “Small business owners have had their applications filled out.