DOJ: 57 people charged for filing fraudulent PPP loan applications

FILE – In this Nov. 28, 2018, file photo, the Department of Justice seal is seen in Washington, D.C. (AP Photo/Jose Luis Magana, File)

OAN Newsroom
UPDATED 12:45 PM PT – Thursday, September 10, 2020

The Department of Justice recently announced it has charged 57 people for defrauding the Paycheck Protection Program. On Thursday, officials confirmed the suspects submitted false applications with the Small Business Administration.

They have called the number of fraudulent loans “significant.” Authorities stated the suspects stole taxpayer money to purchase luxury items, including yachts, houses and sports cars.

The government has so far recovered or frozen $30 million in stolen funds.

“I can’t help but be disgusted,” said IRS official James Lee. “It seems there is no morality amongst criminals, like nothing is off limits for them.”

The Paycheck Protection Program made $670 billion available to small businesses through the $2.2 trillion CARES Act, which was passed by Congress earlier this year.

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