A Plethora of Pandemic PPP Fraud

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

SPONSORS

Jirav https://ohmyfraud.promo/jirav

REFERENCES

• 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 and Guests

Host

Caleb Newquist

Writer l Content at @GustoHQ | Co-host @ohmyfraud | Founding editor @going_concern | Former @CCDedu prof | @JeffSymphony board member | Trying to pay attention.

Host

Greg Kyte, CPA

Mega-pastor of @comedychurch and the de facto worlds greatest accounting cartoonist.

What is Oh My Fraud?

"Oh My Fraud" is a podcast where the true crime is shocking, gruesome, heinous, but with way fewer dead bodies.

Hosted by Caleb Newquist, each episode explores fraud cases from petty swindles to corporate conspiracies, examining the people involved, their motives, methods, and how they spent the loot before it all came to a spectacular, inevitable end.