PPP loan fraud

[DLC]

We drove past the remodeled Hampton Inn on Saturday night 8/15 and the parking lot was jammed packed with cars trucks and boats and some really nice boats.

who they are and how they all paid for the room is anyone’s guess.

its actually cheaper for me to stay in Havasu at my 2nd home than it is to stay home in San Diego north county, plus we enjoy it more alot less stress is on us Out here.

 

[77charger]

Yep it can be done on the cheap, but I don’t see many of these new boats everyone is buying with PPP funds out in front of Days Inn though.

Even in your example, you are in for $600 for just the weekend. The notion that everyone out there is simply unemployed just doesn’t pass the sniff test in my mind.

If I was unemployed I’d be staying home saving money or local lake where it only cost me 25-30 bucks total. 600 dollar river weekend would pay my boating locally all summer. hell maybe I’ll get the boat out today since I’ve been playing with the stand ups all summer.

 

[LowRiver2]

I've heard some crazy stories about it already from my business-owner friends. It's bad...Straight up free money that will be extremely hard to prove was spent erroneously.

A personal friend went to their accountant for some routine stuff and the accountant asks them if they applied for the PPP loan. They said No since they didn't feel that they were struggling. The accountant has them apply through QuickBooks, and bam. $150k in their account in 3 days. All they have to do is pay their employees with the PPP money and then take a distribution. 75-100% paid by all of us.

I'm not gonna Judge their situation or choices but I know this will be a HOT issue in the years to come. I think the bigger issue is that the money was so readily available and with so little qualification standards. I guess when the world's biggest economies are about to crash, you have to move quickly.

Agreed
It will be very hard to judge who shouldn’t have received funds.
I know if one biz owner who received $92k and 0 employees were ever laid off and the biz actually made more $ over this period.

This was an unprecedented situation.
Individual morals will be the only factor in those that got it and didn’t need it giving any relief back.

 

[DILLIGAF]

Without reading all of this.....If any of you know.....know for a fact that someone took this under false pretenses/fraud you should have it addressed by someone in authority. This kind of shit needs to stop.

 

[red ant]

Just wait until business owners try to fill out the loan forgiveness paper work. It is such a mess. that most banks are not accepting the paper work as yet. ADP keeps sending updates. Looks like the number that SBA had a business use for their loan amount is vastly different than what you will be able to forgive. Hopefully this will change. Things are changing every day.

 

[DILLIGAF]

Hope this is true! Go get em.....

x.com

x.com

 

[Ultra...Good]

Hope this is true! Go get em.....

x.com

x.com

The lists of recipients in my area has been circulating for a while. Most of the takers are well known and will be reported many times over. Will see what happens.

 

[DILLIGAF]

Anybody still have the link where to check on and report abusers?

 

[FreeBird236]

I heard a lot of PPP loans were fraudulently filed from out of the country, good luck on those.

 

[stephenkatsea]

Didn’t read through all of the prior post. The distribution of PPP and the amounts was public information. London Bridge Resort received the largest amount in LHC, $10 mil. Think back to Covid times in LHC. CA was shut down, everyone was off work. The LBR was kept busy 7 days a week. I find any layoffs there very unlikely. I know of a company in CA which received $4 mil. They totally inflated the amount of employees they had. About doubled the true amount.

 

[JFMFG]

So what you’re telling me is not one person on RDP got PPP?

 

[Todd Mohr]

PPP was bribe money, no way all of the business owners would have played along with the nonsense. Without the PPP, there would have been 0 chance of compliance to the lockdowns and Covid rules.

 

[Mandelon]

Several of my friends who own businesses took the loans. Each got over $100K! But the businesses didn't slow down or lay anyone off. My realtor neighbor got $25K and paid his assistant. So essentially he got the money and your grandchildren paid her.

 

[Todd Mohr]

Almost all retail businesses got loans and then had record profits, IMO this is what caused the inflation and we are still working through it. It was a massive transfer of wealth for many already well of peeps. If you had the chance for PPP $ and did not take it you are in the minority I am thinking. It was just too easy to get with very little oversight, I'm sure I would have taken it if I owned a business, I'm sure no one wants to brag about it now. I'm sure we all know people that took advantage of this once in a lifetime chance to get paid.

 

[DILLIGAF]

So what you’re telling me is not one person on RDP got PPP?

I did not file for any and would have got a pretty big chunk

Lunatic Fringe did not file either.

 

[Ultra...Good]

PPP was bribe money, no way all of the business owners would have played along with the nonsense. Without the PPP, there would have been 0 chance of compliance to the lockdowns and Covid rules.

Were supposed to be loans. Forgiven or paid back is the question I have.

 

[Todd Mohr]

Were supposed to be loans. Forgiven or paid back is the question I have.

I have not heard of any money being paid back, seemed like a lot of the "loans" were forgiven up front.

 

[DILLIGAF]

Several of my friends who own businesses took the loans. Each got over $100K! But the businesses didn't slow down or lay anyone off. My realtor neighbor got $25K and paid his assistant. So essentially he got the money and your grandchildren paid her.

Report them

 

[PlanB]

Didn’t read through all of the prior post. The distribution of PPP and the amounts was public information. London Bridge Resort received the largest amount in LHC, $10 mil. Think back to Covid times in LHC. CA was shut down, everyone was off work. The LBR was kept busy 7 days a week. I find any layoffs there very unlikely. I know of a company in CA which received $4 mil. They totally inflated the amount of employees they had. About doubled the true amount.

There were a lot of businesses in LHC that took PPP money (it's all public info). Like you stated, LHC never shutdown. It was busy as hell out there the entire time California was mostly shutdown.

 

[NicPaus]

I have not heard of any money being paid back, seemed like a lot of the "loans" were forgiven up front.

My Buddy is making payments. 30 year loan at like 3%. They gave him 450k. He had 1 employee. They forgave like 200k of it. So he has to pay back 250k plus interest or so. The lady that did it for him charged $450. She called me and said you will have a minimum of 150k deposited by next week if you want it and paid her 450.

I passed figuring it was to good to be true and would cause issues later. My work slowed down for 6 months then boomed. So I never missed a day.

I know a few that got a million or so. And several friends of friends that got millions.

 

[Javajoe]

Didn’t read through all of the prior post. The distribution of PPP and the amounts was public information. London Bridge Resort received the largest amount in LHC, $10 mil. Think back to Covid times in LHC. CA was shut down, everyone was off work. The LBR was kept busy 7 days a week. I find any layoffs there very unlikely. I know of a company in CA which received $4 mil. They totally inflated the amount of employees they had. About doubled the true amount.

Too LBR didn’t use some to update their piss poor outdated rooms

 

[boatnam2]

My Buddy is making payments. 30 year loan at like 3%. They gave him 450k. He had 1 employee. They forgave like 200k of it. So he has to pay back 250k plus interest or so. The lady that did it for him charged $450. She called me and said you will have a minimum of 150k deposited by next week if you want it and paid her 450.

I passed figuring it was to good to be true and would cause issues later. My work slowed down for 6 months then boomed. So I never missed a day.

I know a few that got a million or so. And several friends of friends that got millions.

Probably only guy from echo who didnt lol

 

[Havasu blue label]

So what you’re telling me is not one person on RDP got PPP?

Not this business owner what about you

 

[Gramps]

When I saw the list of PPP money handed out in Southern Utah I was amazed.....people that I know didn't get impacted by Covid received thousands...... one guy had a business pitching construction loans out of his house, no employees, never stopped working, received about $50,000

 

[Ultra...Good]

I have not heard of any money being paid back, seemed like a lot of the "loans" were forgiven up front.

All from my area are marked forgiven. Silly me thinking businesses should keep a little extra for tough times.

I only had 3 employees at the time and could have laid them off, I guess. Kept them busy with outside stuff and slightly reduced hours. Had no idea about these loans at the time. Would not have taken anyway.

Nobody talking about student debt lately. Hmmm

 

[76sanger]

My friend took everything they were giving for his business, knowing that he was going to stay profitable even without it. So of course, they are not going to come looking for the money back, right? wrong! And he bought all kinds of high-priced toys and remolded his home and whatever else. The last 5 months has been complete hell for him and his family. They have aggressively come for him, and he is having a really big problem now. There is NO working with him or nothing of the sorts. He actually may end up in prison for stealing government funds. I should maybe feel sorry for him and his family, but I don't. This money was given out to help get businesses through and keep employees paid. Not to think you just got paid and now I'm going to be the big baller with all the new toys. I hope they come for everyone that can't show the financial paperwork of how it was spent!

 

[JFMFG]

Not this business owner what about you

To be 100% honest yes I did. Golf courses shut down for 7 weeks and slowly re opened all of our products are hands on so not much need at that time. 2020 I was down 1.7 million from the prior year. Without ppp I would have had to lay off a lot of my employees prob 10-15 of them. I can honestly say not 1 dime of ppp benefited me personally. My loan was forgiven also. If people wanna judge me for taking it feel free to do it. But honestly that was the lifeline I needed at the time.

 

[NicPaus]

Probably only guy from echo who didnt lol

I have the worst luck I would probably be in jail if I did. I have not heard of anyone having issues legally. They are sure Living the good life though. While I work my ass off trying to keep up.

My one Buddy got a remodeled house and a 117k pool. But what he did was use all his capital for it. And replenished the capital with the ppp. So it's all on paper with a trail.

 

[PlanB]

I have the worst luck I would probably be in jail if I did. I have not heard of anyone having issues legally. They are sure Living the good life though. While I work my ass off trying to keep up.

My one Buddy got a remodeled house and a 117k pool. But what he did was use all his capital for it. And replenished the capital with the ppp. So it's all on paper with a trail.

There is a city council member here in the San Diego area that is being prosecuted for PPP fraud, so it does happen.

 

[n2otoofast4u]

These were originally sold as loans, low interest loans at that. In the early goings when things where totally afuck, with lots of uncertainty on the line, it made good sense for LOTS of people to take the $! Regardless of what the company used it for, it was cheap money to operate on. Now, when the .gov decided to forgive 10s of thousands of these loans, this is where things get a bit muddy. The people who put the $ back into the business, or used it for true business expenses or growth, they got a hell of a deal. The ones that bought house/cars/boats/etc. they are the ones who are going to get strong look from the .gov now.

There is a pretty prevalent Havasu/boating person who is in federal prison right now who was convicted of PPP fraud. I’d suspect there will be more, but I wouldn’t expect wide spread arrests!

 

[Tank]

These were originally sold as loans, low interest loans at that. In the early goings when things where totally afuck, with lots of uncertainty on the line, it made good sense for LOTS of people to take the $! Regardless of what the company used it for, it was cheap money to operate on. Now, when the .gov decided to forgive 10s of thousands of these loans, this is where things get a bit muddy. The people who put the $ back into the business, or used it for true business expenses or growth, they got a hell of a deal. The ones that bought house/cars/boats/etc. they are the ones who are going to get strong look from the .gov now.

There is a pretty prevalent Havasu/boating person who is in federal prison right now who was convicted of PPP fraud. I’d suspect there will be more, but I wouldn’t expect wide spread arrests!

People seem to forget that little caveat. The PPP money was actual loans...At first. People took the money with the knowledge they'd have to pay it back, like you said at a good rate. Just because people took the money doesn't make them bad. Many people put it into their business' with the intent of paying it back. Govt came and said, nah we're good. Ok. Plenty of people utilized the money correctly. I'm pissed the govt gave away our tax money without getting it paid back. Not pissed at business' for taking the opportunity to get a zero percent loan. Of course I think it's fucked up people went and bought houses and cars and shit with our tax money but you can't just look at a list and be like, "fuck all these people".

 

[JFMFG]

People seem to forget that little caveat. The PPP money was actual loans...At first. People took the money with the knowledge they'd have to pay it back, like you said at a good rate. Just because people took the money doesn't make them bad. Many people put it into their business' with the intent of paying it back. Govt came and said, nah we're good. Ok. Plenty of people utilized the money correctly. I'm pissed the govt gave away our tax money without getting it paid back. Not pissed at business' for taking the opportunity to get a zero percent loan. Of course I think it's fucked up people went and bought houses and cars and shit with our tax money but you can't just look at a list and be like, "fuck all these people".

I agree the people who went and utilized it when not needed were wrong. We had to prove quarterly losses of more than 30% when filing to get ours forgiven. A lot of businesses took it it’s just a matter of who wants to be honest about it.

 

[Havasu blue label]

To be 100% honest yes I did. Golf courses shut down for 7 weeks and slowly re opened all of our products are hands on so not much need at that time. 2020 I was down 1.7 million from the prior year. Without ppp I would have had to lay off a lot of my employees prob 10-15 of them. I can honestly say not 1 dime of ppp benefited me personally. My loan was forgiven also. If people wanna judge me for taking it feel free to do it. But honestly that was the lifeline I needed at the time.

What do you provide for the courses

 

[JFMFG]

What do you provide for the courses

We manufacture all the recycled plastic furnishings. Tee signs, stakes, tee markers, benches, water cooler enclosures, trash cans, the list goes on, etc. we also do custom embroidered flags, flag sticks, and other accessories. Everything for the course nothing for the player lol.

 

[Gonefishin5555]

If you followed the rules you have zero risk of going to jail or having them claw back any of the PPP money you received. The PPP loans were forgiven to the extent the money was used for payroll and other related costs. Some companies were still operating and profitable during covid and essentially got free money. There was no requirement that the company actually need the money to stay in business.

The actual problem wasn't the original PPP stuff I think it was when people also got additional SBA loans and the ERC money when it was getting totally out of hand.

 

[Havasu blue label]

We manufacture all the recycled plastic furnishings. Tee signs, stakes, tee markers, benches, water cooler enclosures etc. we also do custom embroidered flags, flag sticks, and other accessories.

Some of the main courses where down 3 months

 

[manxman]

I'm not ashamed to admit that I took the PPP at the direction of our business bank manager. In 45 years of being in business, I cannot ever remember a situation where the federal government, or any government ever helped us stay afloat. We stayed very busy because we were deemed essential because of some of the work we do in many different fields. Never let go of any employees, as a matter of fact I tried hiring on a few occasions with no luck, nobody wanted to work!!! I paid all my existing employees overtime and gave out 3 bonuses that year just to keep them motivated, not to mention they all got raises. Every extra dollar went to new equipment or infostructure for the business. Our loan was forgiven. I kept the money in its own account were it still sits today, just in case it really was to good to be true!!

 

[boatnam2]

To be 100% honest yes I did. Golf courses shut down for 7 weeks and slowly re opened all of our products are hands on so not much need at that time. 2020 I was down 1.7 million from the prior year. Without ppp I would have had to lay off a lot of my employees prob 10-15 of them. I can honestly say not 1 dime of ppp benefited me personally. My loan was forgiven also. If people wanna judge me for taking it feel free to do it. But honestly that was the lifeline I needed at the time.

It's amazing what Covid did for golf, courses were near death before covid and have been packed and with every course I play hard to get a weekend tee time still, drove by skylinks today they were 3 groups deep and tee box.

 

[JFMFG]

Some of the main courses where down 3 months

It's amazing what Covid did for golf, courses were near death before covid and have been packed and with every course I play hard to get a weekend tee time still, drove by skylinks today they were 3 groups deep and tee box.

Covid was the biggest blessing in disguise for golf. We have had record year after record you the past few. It’s been great. Covid was the scariest time of my life business wise. Not taking checks, trying to make ends meet to pay bills, make payroll. I’m glad it’s behind us. I learned a lesson from it.

 

[Looking Glass]

The sickening fact about the PPP that cheaters were those buying New Boats, Vehicles, and Second Homes (SOME IN HAVASU) and flaunting it in other's faces. Find them prosecute them and Sentence Them.

They needed a "BANK" to assist in the Scam, so go after them also.

London Bridge Resort- Dirty Fuckers!! They might have had a bit of "DOWN" BUT NOT NO $10 Million COME ON!!

The more you get the more you want= GREED!!

 

[Tank]

The sickening fact about the PPP that cheaters were those buying New Boats, Vehicles, and Second Homes (SOME IN HAVASU) and flaunting it in other's faces. Find them prosecute them and Sentence Them.

They needed a "BANK" to assist in the Scam, so go after them also.

London Bridge Resort- Dirty Fuckers!! They might have had a bit of "DOWN" BUT NOT NO $10 Million COME ON!!

The more you get the more you want= GREED!!

Daaaaayum!! LBR is a dump too! Imagine what they could've done with 10 mil remodel!!!

 

[Looking Glass]

Daaaaayum!! LBR is a dump too! Imagine what they could've done with 10 mil remodel!!!

It fits great in the owner's Account. I would love to see them on Public Trial so the entire Community can see exactly what "GREED" looks like, Plain And Simple in plain sight,

Explain this one in Court. Ask employees how many of their fellow employees were laid off.

F F S, the God Damn Place has been Paid for how many times Over?

BUST THEIR ASS!!

 

[BingerFang]

Missouri Truck Company Owner Gets 9 Years For PPP Fraud, Other Felonies | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[Romans9]

I looked around at the people that I knew from my hometown and was shocked at the shear amount of people who received PPP money.
Farmers were the biggest fraudulent recipients that I saw as well as tons of independent contractors completely unaffected by the COVID Scamdemic.

What pisses me off the most are the counties and cities that shut down restaurants causing the servers to be unable to collect tips.

Once again the people that actually needed the money to survive didn’t get it.

During that time we had several counties around central Missouri that refused to comply. I solicited them and tipped 25-50 to sometimes even 100%.

I have continued to tip 25-50% since then. I am not wealthy but my family is all raised, I make plenty of money to be able to afford to do it. I take every opportunity to educate the servers as to why I do it and why we can never let or liberties be restricted or flatly taken from us.

I never wore a mask not one single time during the scamdemic.

I do get tired of the credit card sending me alerts confirming I tipped 50-100%.

 

[Looking Glass]

I looked around at the people that I knew from my hometown and was shocked at the shear amount of people who received PPP money.
Farmers were the biggest fraudulent recipients that I saw as well as tons of independent contractors completely unaffected by the COVID Scamdemic.

What pisses me off the most are the counties and cities that shut down restaurants causing the servers to be unable to collect tips.

Once again the people that actually needed the money to survive didn’t get it.

During that time we had several counties around central Missouri that refused to comply. I solicited them and tipped 25-50 to sometimes even 100%.

I have continued to tip 25-50% since then. I am not wealthy but my family is all raised, I make plenty of money to be able to afford to do it. I take every opportunity to educate the servers as to why I do it and why we can never let or liberties be restricted or flatly taken from us.

I never wore a mask not one single time during the scamdemic.

I do get tired of the credit card sending me alerts confirming I tipped 50-100%.

BLESS YOU!! Do not ever think "KARMA" is not real. Your time is coming.

 

[Looking Glass]

The Federal Agencies were so Overwhelmed with Applications and Paperwork it is easy to see how many slipped by. The KEY to being accepted is the "BANKS" and their assistance and "Signing Off" with the Application.

These Banks and Loan Officers are Just as Guilty, and I am sure all these people feel they Got Away With Free $'s

 

[Romans9]

The PPP loan process was designed to allow people to commit mass fraud and has been already stated to buy people off.

Part of the agreement is that you have to state that without this loan your business would likely not survive.

A farmer that I know who owns several thousand acres OUTRIGHT and has all the lastest and greatest equipment (paid for) received $40,000……..yet a single part family that lived in our little town that moved in during the start of Covid and wasn’t able to enroll her kids in school or work the job she took at the local choke and puke didn’t get a penny. Since her kids didn’t get enrolled in school she also wasn’t signed up to receive the lunches the school district was taking out and delivering to the families in need. Thankfully a friend became aware and we made sure the family got food. It was terrible but turned out ok. I wonder about how many suicides and abandonments during that time were directly caused by the national conscience “buy off”…

 

[Romans9]

Do your own search here;

Tracking PPP: Search Every Company Approved for Federal Loans - ProPublica

As part of the Paycheck Protection Program, the federal government has provided hundreds of billions in financial support to banks to make low-interest loans to companies and nonprofit organizations in response to the economic devastation caused by the coronavirus pandemic. Search more than 11...

projects.propublica.org

edited: prepare for disappointment. I found people on there who I thought wouldn’t have been there and even denied when I asked them about it.

I have no problem with some people that took the loans like a friend that works on offshore boats in California. He had to shut down during the scamdemic and I know that he did what he could for his employees. His business was relatively young.

 

[attitude]

Just checked someone I know with a company of about 100 people. They received a total of over $3 million in forgiven loans. Mfer…

 

[Looking Glass]

Do your own search here;

Tracking PPP: Search Every Company Approved for Federal Loans - ProPublica

As part of the Paycheck Protection Program, the federal government has provided hundreds of billions in financial support to banks to make low-interest loans to companies and nonprofit organizations in response to the economic devastation caused by the coronavirus pandemic. Search more than 11...

projects.propublica.org

edited: prepare for disappointment. I found people on there who I thought wouldn’t have been there and even denied when I asked them about it.

I have no problem with some people that took the loans like a friend that works on offshore boats in California. He had to shut down during the scamdemic and I know that he did what he could for his employees. His business was relatively young.

BUT!!

Not for Second Homes, New Boats, Vehicles, Toys, and Elaborate Vacations.