Among them, "(r)ecords show the owner of some farmland in Markham received two PPP loans just shy of $50,000 to keep a hotel running. But there’s no hotel or motel there. Just farmland. And that amount of green is a lot of money to keep goats fed, considering that was all we spotted on the land."
A while back in 2021 and 2020 I received a few emails from the bank about PPP loan availability with general information and links related to applying. While I’m the custodian of a couple of business checking accounts, the accounts aren’t for a business and I don’t own or run a business. The PPP loan availability wasn’t requiring of much by way of proof of need or intended use. So, not surprised that it fits into the reckless or tremendously wasteful spending category. I’m aware of some circumstances related to a couple of PPP loans. One went to a small… Read more »
nixit
4 years ago
Many local branches of labor unions applied for and received PPP loans. Will be curious to see how many really needed the cash because dues were down because their members were working fewer hours.
Diamond1
4 years ago
There is fraud everywhere with these PPP loans …Im just trying to see if this news reporter (Mr. Oprah Winfrey) is going to report fraud in Orland Park, Palos, Oaklawn,, Chicago Ridge, tons in Chicago point blank and the list goes on……….
Thanks for that link. It was like a thing for everyone in these neighborhoods to take out these loans. Everyone was doing it. You can tell the fake ones from the real ones because when you search the public database for the loan, the fake ones still haven’t asked for forgiveness.
The Paraclete
4 years ago
I heard the Admiral Theatre had a huge windfall. Thanks Danny Solis!
debtsor
4 years ago
There was so much PPP fraud, that was such a boondoggle.
A while back in 2021 and 2020 I received a few emails from the bank about PPP loan availability with general information and links related to applying. While I’m the custodian of a couple of business checking accounts, the accounts aren’t for a business and I don’t own or run a business. The PPP loan availability wasn’t requiring of much by way of proof of need or intended use. So, not surprised that it fits into the reckless or tremendously wasteful spending category. I’m aware of some circumstances related to a couple of PPP loans. One went to a small… Read more »
Many local branches of labor unions applied for and received PPP loans. Will be curious to see how many really needed the cash because dues were down because their members were working fewer hours.
There is fraud everywhere with these PPP loans …Im just trying to see if this news reporter (Mr. Oprah Winfrey) is going to report fraud in Orland Park, Palos, Oaklawn,, Chicago Ridge, tons in Chicago point blank and the list goes on……….
I hope he does!
Here’s another article that shows how widespread the fraud was with some examples from chicago. https://archive.md/J8bwO
Thanks for that link. It was like a thing for everyone in these neighborhoods to take out these loans. Everyone was doing it. You can tell the fake ones from the real ones because when you search the public database for the loan, the fake ones still haven’t asked for forgiveness.
I heard the Admiral Theatre had a huge windfall. Thanks Danny Solis!
There was so much PPP fraud, that was such a boondoggle.