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Bad Actors Emerge in PPP Lending – More Expected as Forgiveness Guidance Emerges

Abrigo

Key Takeaways Like other federal relief programs, the PPP has become subject to fraud. The first federal charges of PPP loan fraud have been made – and they're unlikely to be the last. From 9/11 to Hurricane Sandy, and now, during COVID-19, federal relief funds aimed to help people rebuild after a disaster becomes subject to fraud.

Lending 195
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121 Of The Biggest, Costliest Startup Failures Of All Time

CB Insights

And then there were some uncommon and more dramatic causes of failure, including: Financial fraud. Select VC Investors: Rhode Island Economic Development Corporation. Add it all up, including interest, and already-cash-strapped Rhode Island could be out as much as $110 million on the loans. A most-wanted founder.

Capital 78