I’m certain a lot of money was paid out to companies who basically already were bankrupt *before* Covid.
It was quite bold (and imho obviously unwise) that the Federal Council back then announced, that the funds will be paid out quickly and without control and that the government (= taxpayer) will be guarantor for the banks. So the banks also hadn’t much incentive to do much controls because check the applicants is a cost factor… why doing it when the taxpayer covers your losses anyway?
So some of the applicants simply made up fake-revenue-numbers and therefore got big payments to blow.
Some of those cases are already in the courts, but I’m asking myself how systematical the follow-up controls were after the initial rush was over.
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*shocked pikachu face*
I’m certain a lot of money was paid out to companies who basically already were bankrupt *before* Covid.
It was quite bold (and imho obviously unwise) that the Federal Council back then announced, that the funds will be paid out quickly and without control and that the government (= taxpayer) will be guarantor for the banks. So the banks also hadn’t much incentive to do much controls because check the applicants is a cost factor… why doing it when the taxpayer covers your losses anyway?
So some of the applicants simply made up fake-revenue-numbers and therefore got big payments to blow.
Some of those cases are already in the courts, but I’m asking myself how systematical the follow-up controls were after the initial rush was over.