The Corporate Whistleblowwer Center says, “If your bank-employer was involved in bigger Paycheck Protection Program Loans in 2020-2021 and there was no due diligence on the loans, give us a call at 866-714-6466 to discuss whistleblower rewards.”

WASHINGTON, DC, July 09, 2024 /24-7PressRelease/ — The Corporate Whistleblower Center says, “In 2020 the White House and the US Congress created the Paycheck Protection Program-PPP initiative to assist small businesses that were struggling because of the COVID Pandemic. The US Small Business Administration ran the program, and they allowed US banks and financial institutions to originate the loans for small businesses.

“To be eligible the business-borrower was supposed to have fewer than 500 employees, the money was supposed to be necessary and at least 60% of the loan proceeds were supposed to be used on payroll. If your bank-employer was involved in bigger Paycheck Protection Program Loans in 2020-2021 and there was no due diligence on PPP loans, please give us a call at 866-714-6466 so we can discuss whistleblower rewards. PPP loan fraud occurred with banks and financial institutions on a massive scale nationwide, and this type of wrongdoing is super easy to prove.” https://CorporateWhistleblowerCenter.Com

Some examples of Paycheck Protection Program-PPP loan fraud-involving banks-financial institutions were no due diligence occurred.

*Bank or financial institution loan officers called nursing home, long term care facility, nurse staffing agency and all types of healthcare companies offering a PPP loan for each branch-even if the total number of employees exceeded 500 employees for all branch locations combined. Typically, the same bank did all the nursing home’s-healthcare company’s various PPP loan applications so it would be impossible for the bank not to see that the number of employees for the company exceeded 500.

*Bank-financial institutions never asked for proof if the loan proceeds from a PPP loan were used on payroll. These loans were almost always forgiven. The Corporate Whistleblower Center can now prove scores of healthcare companies received around a million dollars per location in free loans and used the money on buying more healthcare facilities or they kept the money for themselves. Not a dime was spent on payroll.

*Banks or financial institutions that were originating SBA Paycheck Protection Program-PPP loans frequently encouraged the borrower to set up a new bank account with them as opposed to the business’s existing primary bank or financial institution. The problem with this is the business’s accounting staff might not have ever seen a million-dollar deposit into the company’s checking account via the SBA. In many instances it was not a million dollars-it was millions of dollars.

According to the Corporate Whistleblower Center, “If you worked at a bank or financial institution that was originating Paycheck Protection Program loans in 2020-2021 and managers were telling loan officers to ignore due diligence or the basic rules of fewer than 500 employees, 60% of the loan proceeds going to payroll, and or the money being necessary please give us a call at 866-714-6466.

“The whistleblower rewards for you might exceed a million dollars-because you probably know about more than one company that defrauded the government on COVID era Paycheck Protection Program Loans. Many of the banks we are targeting are small local or regional banks. All calls are confidential, and the wrongdoing is super easy for us to prove.” https://CorporateWhistleblowerCenter.Com

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