Watch: COVID PPP Loan Scammers Cry Online After Getting Caught!

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I don’t care how stupid the clown in the White House wants to be, the Federal government isn’t going to play around with scammers. Just ask anyone in prison now for fudging their taxes. So, Joe might have opened the floodgates for scammers to get ‘free’ PPP money, but that hen has come back to roost.

Amid the widespread exploitation of pandemic-era relief programs like the Paycheck Protection Program (PPP), the DOJ had prosecuted over 500 individuals by March 2022, according to a DOJ press release. As the department continues to crack down on fraudulent activity, social media users have taken to platforms like TikTok to voice their concerns.

One such user, J_Kyng_Enterprise, posted a video series on TikTok expressing his regret and shock after being served by authorities for fraudulently obtaining a PPP loan. “Yo…that PPP shit is real,” he said in the first video, posted on Friday.

Facing potential prosecution, Kyng admitted that he knew what he was doing was wrong, stating, “At the end of the day I knew what I was doing when I did it, I knew that there was a possibility that…everything could go sideways.” He also warned others against committing fraud, saying, “It’s not worth it…for everybody out there getting it.”

♬ original sound – j_kyng_enterprise

Kyng is just one of many alleged fraudsters facing consequences for exploiting government financial programs. The DOJ has issued press releases on four separate PPP fraud prosecutions in October alone. This includes a case involving a California white supremacist gang, which was indicted for multiple counts of criminal activity, including COVID-19 benefits and loan fraud. In another case, a healthcare provider agreed to pay nearly $400,000 in restitution for fraudulently obtaining and retaining multiple PPP loans.

The DOJ’s efforts to root out fraud are not slowing down, as seen in the recent indictment of Georgia native Tyshion Nautese Hicks, who orchestrated a scheme to steal over $30 million from the Georgia Department of Labor. Another indictment against a Chicago resident alleges that they received nearly $250,000 in fraudulent PPP loans.

Despite the DOJ’s progress in prosecuting fraud, false reports of a “PPP loan warrant list” have caused panic on social media. One video from GrindFace TV falsely claimed that the list had been released for 2024 and warned viewers that authorities were coming for them. However, this list does not exist. The video’s creator later posted a screen recording from Pro Publica’s PPP Tracker, which simply lists all businesses approved for the loan without any reference to arrest warrants.

According to Pro Publica, the government distributed over $793 billion in PPP funding to nearly 1 million organizations, with $763 billion being forgiven. However, prosecutors estimate that at least 10% of the loan money was obtained fraudulently, equating to around $80 billion. As of April, the DOJ reported recovering/seizing $1.4 billion in stolen funds.

The increase in PPP fraud prosecutions serves as a reminder that exploiting government programs for personal gain will not go unpunished. As more individuals are held accountable for their actions, potential scammers may think twice before attempting to defraud government relief programs.

Source: SilverCircular