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SBA announces major EIDL investigation is starting for false claims

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  • SBA announces major EIDL investigation is starting for false claims

    I heard on the radio yesterday. They were told to speed up and expedite and did little fact checking. Mostly suspecting false fake businesses. For legal ones I hear this is not about how you used the funds don't go there. News said it was false claims and from they expect perhaps thousands of them.

    P.S. Remember the EIDL was $10K per business not employees. Several of those lawsuits against SBA continue including some congress people. They said that is not over. Google this and you will see many discussions of the false claims on Youtube.

  • #2
    I listened to many reporters on this today. YouTube. MANY may have claimed extra employees to get more grant $1000 per employee. There are dozens of YT on this now.
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    • #3
      I know loose lipped groomers that suggested other IC groomers apply but they added on employees. Dang wake up foolish ones!

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      • #4
        OMG I heard groomers talking to other groomers and helping them fill out requests for EIDL and they were 1099 but added employees to get the full $10,000. Holy Shi they are going to be in serious trouble.

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        • #5
          I heard a group of groomers doing this too.

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          • #6
            Soooooo gkad I didn't apply for any assistance.
            <a href="http://www.groomwise.typepad.com/grooming_smarter" target="_blank">My Blog</a> The two most important days in your life are the day you are born and the day you find out why. –Mark Twain

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            • #7
              The biggest scheme was people not even with a business, they are likely to be more easily identified. They signed up with the IRS for a new EIN number AFTER the EIDL program started, and if you remember you had to be in business prior to some date in January 2020. Then they filed fraudulent EIDL claim using that new number. So I suppose they could screen records for EIN's acquired after EIDL started and look at those claims, still quite a chore. Also, for those that overstated employees, they could check how many employees you typically have from your employer filings of W-3 forms and perhaps 941 or 944 forms to some degree.

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              • #8
                I heard this by an investigator on YT, hope I took my notes well. But that is the 2 speculations.

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                • #9
                  But did you hear speculation down line a year or two or more, congress may have to FORGIVE EIDL LOANS, not grants, LOANS.

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