How Not to Use a PPP Loan!!
The U.S. Attorney for Minnesota recently indicted a contractor for defrauding the Paycheck Protection Program ("PPP"). Given the broad uses of PPP loans, this contractor went pretty far out of bounds to get himself indicted. The U.S. Attorney’s press release explained the underlying allegations. Strike One: The contractor applied for a PPP loan well after his construction company had stopped operation. Strike Two: The contractor submitted false employee and expense [...]