What people need to realize is it wasn’t just fraud. Many companies (owned by wealthy elites) got large amounts of PPP loans which never had to be repaid. They never really needed the money. My friend owns a large business and he got like $3M of PPP loans and never had to pay it back, all he had to do was show a drop in revenue (can’t remember the %) and he was told to keep it.
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Well this is the understatement of the century.
first time?
What people need to realize is it wasn’t just fraud. Many companies (owned by wealthy elites) got large amounts of PPP loans which never had to be repaid. They never really needed the money. My friend owns a large business and he got like $3M of PPP loans and never had to pay it back, all he had to do was show a drop in revenue (can’t remember the %) and he was told to keep it.