![]() ![]() Tens of thousands of fraudsters splurged on Lamborghinis, vacation homes, private jet flights and Cartier jewelry by fleecing the PPP loan system in a $200 billion heist - and did it because the COVID loan scheme was so easy to milk.Īpproximately $1.2 trillion was rushed through Congress in 20 in COVID bailout cash for businesses and spent on the Economic Injury Disaster Loan Program (EIDLP) and the Paycheck Protection Program (PPP) schemes.īut a new report from the Small Business Administration’s Office of Inspector General reveals an astonishing 17% vanished to fraud - an estimated total of $200 billion.Īnd the SBA says it estimates there are more than 90,000 “actionable leads,” while it has already prosecuted dozens - including a former New York Jets wide receiver, Josh Bellamy.ġ6 Besim Kukaj used his restaurants, including Intermezzo in Hell’s Kitchen, Manhattan, as a front for a $6.1 million bogus loan scheme, then splurged on Cartier and Hugo Boss. Ivanka Trump testified she got advice from husband Jared Kushner on real estate financing deals to be called as first defense witness at fraud trial: Trump legal teamĪrtist’s courtroom sketch of Ivanka Trump panned: ‘This feels like a grudge’ The Great Grift: COVID fraudster used stolen relief aid to buy private island in Floridaĭon Jr.
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