Rewards and relief packages are being distributed throughout in the United States during the outbreak to help the hardworking Americans in their economic well-being. It is the Small Business Administration comes forth to provide relief money that is guaranteed to eligible companies within the CARES program, or Coronavirus Aid, Relief, and Economic Security.
The relief funds were targeted by some people and companies who were allegedly involved in a fraud. Many people who hail from Ohio states have been caught lying about hiring people and owing companies to get this relief program.
The Ppp Fraud List of Ppp Fraud Ohio as well as other states below.
What is PPP Loan?
PPP, also known as Paycheck Protection Program is a billion-dollar loan program for business that was introduced within the United States in 2020 under the Coronavirus Aid, Relief, and Economic Security Act. It is designed to help small sole proprietors, businesses and self-employed employees as well as tribal enterprises and non-profit organizations continue their business activities through the payment of their workers.
Businesses can take advantage of low-interest loans from private lenders to pay for their rental or payrolls, as well as to cover other costs of running a business. The amount of the loan is equivalent to 2.5 times the monthly average pay-roll cost for the business. Check out the list of companies that are involved in PPP fraud on loans.
The Updated Ohio Ppp Loan Frauds List
Federal authorities keep a watchful surveillance of each applicant’s application carefully to make sure there are no scams or frauds. However, criminals are becoming smarter and are stealing documents to get a loan from the program CARES. Here is the list of PPP loan frauds in Ohio.
- Deon Levy James Stote, Wyleia Williams Wyleia Williams, James Stote and Deon Levy Ross Charno – These are the scammers that were charged in connection with the PPP loan fraud in August of 2020. They were accused of conspiring to commit wire and bank fraud.
- Nadine Jackson – In June of 2020 she was arrested for filing false statements and wire frauds. Her name was listed on the PPP Fraud list Ohio. She was detained for submitting fake documents in order to obtain the PPP loan of $2.5 million.
- Robert Bearden – He was accused of three charges of wire fraud as well as the theft of funds from government sources in the month of May 2021. He was accused of submitting fake application for an PPP loan of $60,000 under the CARES program.
Summary of PPP Loan in Ohio
It was determined that 1402 261 loans had been made available only in Ohio that resulted in over 18 808 jobs being retained. But, this number also includes those as on the Ppp Loan Frauds List.
Based on the data available Based on the available data, a loan amount of $26 754 087 921 was given out in the PPP program to companies in Ohio state. If you’re curious about the amount of loans that have been distributed across the state, go to the official website that houses PPP directory.
PPP loan is available to companies and individuals that have been severely affected by the pandemic that swept across the globe. It helps them cover expenses for operations and payroll of their employees. But, there are scammers who have been caught committing frauds using the funds. The federal government is monitoring it and has highlighted fraudulent names on the Ppp Fraud List Ohio.
Do you know of anyone associated with this PPP scam? Do you want to share what steps you’ve used to expose the fraud?