Federal offices in Houston continue to investigate and prosecute people for PPP fraud,...
. Funding these luxuries was never the objective of the federal loan program that doled out $953 billion to businesses under the Paycheck Protection Program amid a global pandemic. Nevertheless, people in the Houston area and across the country are facing and have been convicted of federal charges for taking advantage of the assistance intended to help small businesses struggling to stay afloat during quarantine restrictions.
“Greedy criminals exploited the pandemic and took money from those who needed it most — legitimate business owners trying to pay their employees — real people who just wanted to take care of their families,” U.S. Attorney Alamdar Hamdani said."The criminals we charged in these cases placed greed above humanity and are now paying the price for their selfishness."Alamdar Hamdani is"thankful" after becoming the new U.S.
Since the program was new and passed during a tumultuous time for many around the world, IRS investigators initially didn't have the full capability to chase PPP fraud cases, said Special Agent Ryan Johnson, from the IRS Criminal Investigations' Houston office:"We didn't know quite what we were seeing yet."
Houston's field office investigated another six cases that led to convictions and lengthy prison sentences and involved hundreds of PPP loans. The defendants owe nearly $1.4 million in restitution and forfeiture of nearly $1.8 million, plus one must give back a house in Orlando, said IRS-CI spokesman Christian Venhuizen. Four of the cases involved PPP fraud in excess of $3 million, he added.
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