NPR: Over $200 billion in pandemic business loans appear to be fraudulent, a watchdog says

sendingmath@kbin.social to News@kbin.social – 229 points –
npr.org

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

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.

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