The Paycheck Protection Program, aka PPP, was the main financial lifeline to small businesses negatively impacted by the COVID-19 pandemic. Billions of dollars in loans were made, and millions of jobs were saved. But there was also a remarkable amount of fraud. In this episode, Caleb and Greg discuss two cases that exemplify PPP fraud: big, brazen, baffling. That’s right, it’s BBB PPP.
Show Notes
- Complaint against David T. Hines
- DOJ press release for charges against David T. Hines.
- DOJ press release for guilty plea of David T. Hines
- DOJ press release for sentencing of David T. Hines
- How Bad Was Virus Aid Fraud? One Banker Was ‘Frustrated With Humanity’ [NYT]
- The $800 Billion Paycheck Protection Program: Where Did the Money Go and Why Did it Go There? [NBER]
- Did FinTech Lenders Facilitate PPP Fraud? [via NYT]
- 'Biggest fraud in a generation': The looting of the Covid relief plan known as PPP [NBC]
- Tarzana Couple flees while under house arrest for PPP fraud — LA Times
- Three fugitives captured in Montenegro - NBC News
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CONNECT WITH THE HOSTS
Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/
Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/
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Full transcript available upon request
Creators & Guests
What is Oh My Fraud?
"Oh My Fraud" is an irreverent podcast from CPA/comedian Greg Kyte and blogger/former CPA Caleb Newquist.
The two come together to unpack their favorite frauds and explore the circumstances, psychology, and interpersonal dynamics involved. They also fully indulge in victim-blaming the defrauded widows, orphans, infirm and feeble-minded—because who can resist?
If you fancy yourself a trusted advisor—or prefer your true crime with spreadsheets instead of corpses—listen to this show to learn what to watch out for to keep your clients, your firm, and even yourself safe.