Ohio Man Indicted in Massive PPP Fraud Case

An Ohio man is one of five being indicted in a $4 million Payroll Protection Program (PPP) fraud case.

The accused allegedly submitted, or assisted in the submission of a fraudulent PPP loan for five businesses according to the indictment. Khalil Gibran Green Sr. of Cleveland claimed to be the sole owner of Impact Creations LLC, a company that claimed to have 67 employees and an average monthly payroll of $332,000 on a PPP application.

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SBA: 2.2 Million Loans, $175B Issued So Far in 2nd Round of Paycheck Protection Program

The Small Business Administration and the U.S. Treasury revealed Sunday that the second round of the Paycheck Protection Program has issued 2.2 million loans, totaling $175 billion.

PPP loans are forgivable loans for small businesses to offset some of the losses experienced by the response to the COVID-19 pandemic. The loans are meant to provide a direct incentive for small businesses to keep their workers on the payroll.

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