Department of Justice: Florida Woman Convicted of COVID-19 Relief Fraud

Department of Justice: Florida Woman Convicted of COVID-19 Relief Fraud. “A federal jury convicted a Florida woman on Nov. 24 for fraudulently obtaining a Paycheck Protection Program (PPP) loan guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. According to court documents and evidence presented at trial, Keyaira Bostic, 32, of Pembroke Pines, obtained a PPP loan of $84,515 for her company, I Am Liquid Inc., based on false information about the company’s number of employees and average payroll, and based on false supporting tax and bank documents.”

Department of Justice: Texas Man Sentenced to More Than Nine Years in COVID-19 Fraud and Money Laundering Scheme

Department of Justice: Texas Man Sentenced to More Than Nine Years in COVID-19 Fraud and Money Laundering Scheme. “A Texas man was sentenced today to 110 months in prison for his scheme to fraudulently obtain and launder proceeds from more than $1.6 million in Paycheck Protection Program (PPP) loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief and Economic Security (CARES) Act.”

COVID relief bill: Debunking the misinformation about the plan (CNET)

CNET: COVID relief bill: Debunking the misinformation about the plan. “President Joe Biden on Thursday signed his American Rescue Plan, which includes a third round of stimulus checks, an increase to the child tax credit and extended unemployment benefits. With a price tag of $1.9 trillion, it’s just shy of the $2.2 trillion CARES Act that was passed last March when the coronavirus pandemic triggered shutdowns across the US. Polls show people overwhelmingly support Biden’s plan, but there’s already a wealth of misinformation on social media declaring that this bill is a ‘heist’ and won’t help Americans. Those claims are false. So let’s clear up the confusion and inaccurate information about the COVID relief bill.”

Department of Justice: Four Additional Members of Los Angeles-Based Fraud Ring Indicted for Exploiting COVID-Relief Programs

Department of Justice: Four Additional Members of Los Angeles-Based Fraud Ring Indicted for Exploiting COVID-Relief Programs. “A federal grand jury in Los Angeles returned a superseding indictment, unsealed Thursday, charging four additional individuals for their alleged participation in a scheme to submit over 150 fraudulent loan applications seeking over $21.9 million in COVID-19 relief funds guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.”

New York Times: Jobless Workers Built Up Some Savings. Then the $600 Checks Stopped.

New York Times: Jobless Workers Built Up Some Savings. Then the $600 Checks Stopped.. “The $600 weekly unemployment benefit the federal government funded this year was a remarkably effective expansion of the safety net. It helped pay many workers more than their lost wages. It enabled families to spend more than during normal times. It even allowed households to put away savings as the economy was teetering. Then the money stopped at the end of July. And it’s clear, looking back, what happened next: Workers quickly burned through the reserves that the aid had given them.”

ProPublica: The Trump Administration Allowed Aviation Companies to Take Bailout Funds and Lay Off Workers, Says House Report

ProPublica: The Trump Administration Allowed Aviation Companies to Take Bailout Funds and Lay Off Workers, Says House Report. ” The federal government gave grants and some loans to airlines and their contractors, who were then meant to keep workers on their payrolls. The amount each company received would be based on six months worth of payroll from last year. In exchange, the companies had to agree not to conduct any layoffs until October, about six months after the CARES Act was passed. But ProPublica found that the companies laid off workers throughout the spring and then took the money intended to preserve the jobs they had already cut.”

Politico: Millions of workers face jobless benefits cliff with lifeline set to expire

Politico: Millions of workers face jobless benefits cliff with lifeline set to expire. “…the U.S. is inching closer to a Dec. 31 deadline when several key federal jobless aid programs created under the March CARES Act will be cut off entirely. If the government doesn’t pass legislation, more than half of those receiving unemployment benefits — about 13.4 million people — stand to be left with no income.”

‘Doomed to fail’: Why a $4 trillion bailout couldn’t revive the American economy (Washington Post)

Washington Post: ‘Doomed to fail’: Why a $4 trillion bailout couldn’t revive the American economy. “The U.S. response to the coronavirus has already been the costliest economic relief effort in modern history. At $4 trillion, the assortment of grants, loans and tax breaks exceeded the cost of the Afghanistan war. More than half, or $2.3 trillion, went to businesses which in many cases were not required to show they were impacted by the pandemic or keep workers employed.”

Washington Post: How the Cares Act poured millions into corporate hands with no strings attached

Washington Post: How the Cares Act poured millions into corporate hands with no strings attached. “For pipeline company Antero Midstream, a firm at the forefront of the Appalachian fracking boom, the mammoth stimulus bill known as the Cares Act delivered a quick and happy benefit: a $55 million payment from the Treasury Department. The payment came with no strings attached. And although the legislation was partly tailored to help businesses keep people employed, Antero didn’t need to agree to hire or retain any workers. It didn’t need to promise to invest in its business. And it didn’t need to pledge to meet any new regulatory standards.”

CNN: Trump calls for stimulus negotiations to stop until after Election Day

CNN: Trump calls for stimulus negotiations to stop until after Election Day. “President Donald Trump has ordered his negotiators to halt talks over a new stimulus package, after the two sides have struggled for months to reach a deal. ‘I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major Stimulus Bill that focuses on hardworking Americans and Small Business,’ Trump wrote in a series of tweets Tuesday afternoon.”

Route Fifty: Local Officials Say They Need More Time to Spend CARES Act Money, as Future Aid Remains in Doubt

Route Fifty: Local Officials Say They Need More Time to Spend CARES Act Money, as Future Aid Remains in Doubt. “Local officials say a looming end-of-year deadline for their governments to use hundreds of millions of dollars in federal coronavirus aid could force them to unnecessarily rush spending over the coming three months and will limit them from spreading the money into next year when the virus is likely to still be a threat. It would be immensely helpful, they say, if the federal government pushed the cutoff date to use the money from Dec. 30, out into 2021.”

American Independent: More than 1 million US citizens might never get virus relief checks

American Independent: More than 1 million US citizens might never get virus relief checks. “Millions of Americans have been left out to dry when it comes to obtaining coronavirus relief money, and among the hardest hit are U.S. citizens with undocumented spouses. A Monday report by the United States Government Accountability Office indicated that 8.7 million or more Americans had not yet received their stimulus checks during the coronavirus pandemic. At least 1.2 million Americans with undocumented spouses likely never will.”

US Department of Justice: NFL Player Charged for Role in $24 Million COVID-Relief Fraud Scheme

US Department of Justice: NFL Player Charged for Role in $24 Million COVID-Relief Fraud Scheme. “A National Football League (NFL) player has been charged for his alleged participation in a scheme to file fraudulent loan applications seeking more than $24 million in forgivable Paycheck Protection Program (PPP) loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.”

Department of Justice: Nine Charged with $24 Million COVID-Relief Fraud Scheme

Department of Justice: Nine Charged with $24 Million COVID-Relief Fraud Scheme. “The owner of a Florida talent management company and four others were charged in complaints unsealed yesterday for their alleged participation in a scheme to file fraudulent loan applications seeking more than $24 million in forgivable Paycheck Protection Program (PPP) loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.”