Not everyone who received a Paycheck Protection Program (PPP) loan actually qualified for it. Recently, one man who prepared false loan applications for small businesses in exchange for a 30% fee was convicted of conspiring to defraud the IRS and the PPP. The man was sentenced to 10 years in prison. Unfortunately, some government workers also took criminal advantage of the federal pandemic relief loan program. On Oct. 4, five current and former IRS employees were charged with collectively stealing more than $1 million by fraudulently obtaining PPP and Economic Injury Disaster Loan Program loans. They allegedly used the money to travel and buy cars and luxury goods.
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