PPP Loan Update
- Thread starter Rollie Forbes
- Start date
Of course they can. A loan filed under false pretenses is fraud. I don’t even know why they needed the thousands of extra bodies. Run a query of new luxury car registrations or destination travel airline tickets during x time period crossed with ppp loan recipients. These dumbasses funded the irs billions to do that easy legworkI read that the IRS got up to six years to flag you for fraud, and that they can still come after the people that got their loan forgiven too
There is also a legal term called low hanging fruit. If the IRS and the DOJ is trying to make a point about fraud then low hanging fruit is is in the line of fire.This.
I think I remember reading that you have an accounting or some type of finance background so you would know. There is an accounting term called materiality. If the loans were under a certain threshold then it's not feasible to expend resources to investigate those loans. Those loans are not material enough. The question then is, what loan amount is material? Could be $50k, maybe $75k. I think majority of black folks who took out loans may have been around $20k. So they may all be safe. However, if $20k is material, then...
Seriously you guys had better take a look at what was allocated for enforcement in the new IRS budget. Small fraud might not get a person time, but they are going to have to pay it back with interest and they will probably get probation but the IRS is coming after the people that committed fraud.
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Nah broah. The IRS just extended PPP and EIDL fraud out to 10 years. So they have a whole decade now to get shiftless negroes and scamming ass white folks,I read that the IRS got up to six years to flag you for fraud, and that they can still come after the people that got their loan forgiven too
So now the new play is to get the scammers to infiltrate and erase, they gonna be showing up to interviews with fake degrees and credentials talking about they've been in executive accounting and finance for a decade but now want to help the government and apply for a position.
Man ain’t no such thing as it’s a small amount so I’m good. I read the whole bill and Joe Manchin wasn’t signing a climate bill, he was only willing to sign a health care bill because he was concerned about inflation in order to get him board Joe Biden had to back down from his the wipe student loan debt stance, he had to scale down a lot of the social service programs he intended, added funds for 87k IRS agents and extended the statues of limitations to 10 years. Secret Service say it’s 100 billion in ppp fraud and they counting that as revenue against inflation in the bill. The Inflation Reduction Act bill is just a scaled down version of the buy back better bill. PPP loan crackdown and scaling down the social programs is what made Manchin agree to the bill. Far as my opinion I got a wait and see approach with it because I know a lot of people who did and nothing happened to them. If they see them starting to get in trouble I’m not just talking one or two I need to see at least half of them for me to say shyt done got real.
They can try but the IRS would background check them.So now the new play is to get the scammers to infiltrate and erase, they gonna be showing up to interviews with fake degrees and credentials talking about they've been in executive accounting and finance for a decade but now want to help the government and apply for a position.
That's no problem, I got a course for sale that teaches you how to get around that, you prefer to pay with CashApp or Venmo?
Shut yo dumbass up
That's no problem, I got a course for sale that teaches you how to get around that, you prefer to pay with CashApp or Venmo?
Having received the by itself is a single form of fraud. The paperwork is also fraud. So does that make “amount” immaterial?This.
I think I remember reading that you have an accounting or some type of finance background so you would know. There is an accounting term called materiality. If the loans were under a certain threshold then it's not feasible to expend resources to investigate those loans. Those loans are not material enough. The question then is, what loan amount is material? Could be $50k, maybe $75k. I think majority of black folks who took out loans may have been around $20k. So they may all be safe. However, if $20k is material, then...
The falsifying of the application was fraud as well, so wouldn’t they get caught off the paperwork?I know some people who got it, and seriously I'm concerned because I know they ain't got the money to pay it back.
In Illinois they’ve started more east of the state and slowly making their way west. So far, I’ve only read stories of Black people getting caught up. I believe I the Joliet area a 17 year old young man got caught up.
I know folks personally, in my are that took 2-3 loans and simply traveled and bought clothes and had crab boils.
I know someone that blackmailed her kids father after she found out he received 80k. He gave her 10 to stfu.
Killah Ray
Carolina hail to thee....
nikkas in here like they won't come after anybody that defrauded the government of only 20k right? 
RIght?!?!
RIght?!?!
How much are we talking about? A couple g?I know some people who got it, and seriously I'm concerned because I know they ain't got the money to pay it back.