Restaurants Turn To $28B Federal Relief Fund After PPP Ran Out Of MoneyAn estimated one out of every six restaurants have closed for good since the start of the pandemic. Even more owners say they won’t make it another year without help.
North Texan Dinesh Sah Pleads Guilty To $24M COVID-Relief Fraud SchemeAccording to court documents, Dinesh Sah, 55, admitted that he submitted 15 fraudulent applications, filed under the names of various purported businesses that he owned or controlled.
Watchdog Groups Fear More Fraud With New Round Of PPP Loans For Small BusinessesAs business begin apply for the second round of COVID-19 relief funding, federal investigators continue to uncover alleged fraud from the first round of loans.
New PPP 'Loan Necessity' Questionnaire Raises Concern Among Small Business OwnersMonths after thousands of small businesses accepted government aid to help them get through the pandemic, some borrowers are worried the government is changing the forgiveness rules.
'They're Moving The Goal Posts': Big, Unexpected Tax Bill Could Be Coming For Small Business Owners Granted PPP Loans“That’s not what (the government) said back in late March when these businesses took out the loans,” said accountant Glen Birnbaum, a partner at Sikich LLP. “They are moving the goal posts.”
'This Is Taxpayer Money': Government Watchdogs Call For Safeguards To Prevent Further PPP Loan Fraud“Frankly, (the government) has a duty to make sure the money goes to the right individuals and to those who actually need it."
I-Team: Millions In PPP Money Went To Bogus Texas Companies With Little VettingAccording to court records, Dinesh Sah of Coppell was approved for PPP funding for 11 different companies for a total of $17.7 million.
Feds Say Coppell Man Spent $17 Million In Fraudulently Obtained PPP Loans On Homes & Luxury CarsA Coppell man has been indicted for fraud and money laundering after he allegedly spent more than $17 million in Paycheck Protection Program loan money on lavish personal expenses.
Texas Man Accused Of Spending COVID-19 Relief Funds On Lamborghini, Strip ClubsA Texas man is accused of fraudulently obtaining more than $1.6 million in COVID-19 relief funds and spending it on items such as a Lamborghini and at strip clubs, the Department of Justice said.
Research Shows Congress Created Coronavirus Aid, Then Reaped The BenefitsAt least a dozen lawmakers have ties to organizations that received federal coronavirus aid, according to newly released government data.
Texas Businesses Among Trump Donors Who Were Early Recipients Of Coronavirus LoansAs much as $273 million in federal coronavirus aid was awarded to more than 100 companies that are owned or operated by major donors to President Donald Trump's election efforts.
Texas Lt. Gov. Dan Patrick's Broadcasting Company Received $179K PPP LoanA spokesperson said the money was sought due to a decline in advertising sales and was to cover the payroll and expenses of 13 employees.
Owner Of North Texas Wedding Planning Company Charged With Coronavirus-Relief FraudFahad Shah, 44, was charged in an indictment unsealed Tuesday with wire fraud, false statements to a financial institution and money laundering.
Trump Cabinet Member In Dallas Touts Small Business Loan Success: 'No Small Businesses Were Left Behind'Jovita Carranza, head of the Small Business Administration, met with small businesses owners in Dallas on Friday.
Small Businesses Hoping For PPP Loan Changes As $140B Remains UnusedSome businesses say the restriction on the loans have not allowed them to use the money in the way they need it.