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prima:More fraud cases investigated in loans granted under CARES Act

The investigations are running concurrently with a lawsuit filed this month by Oriental Bank against more than 100 entities for fraud in obtaining PPP loans, causing them millions of dollars in losses.

December 30, 2024 - 2:04 PM

The cases investigated or prosecuted were related to loan applications under the Small Business Administration's Payroll Protection Program (PPP) that were intended for, among other things, the payment of payroll and fixed debts in the midst of the Covid-19 emergency. (Shutterstock)

The Office of Inspector General of the federal Small Business Administration (SBA) continues to investigate cases of administrative, criminal and voluntary delivery fraud committed in loans under the CARES Act, said Josué Rivera, SBA administrator in Puerto Rico.

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