This…is American EIDL Fraud!
Oh My Fraud
Recollection of the Mount St. Helens eruption
The speaker's surprising experience of sleeping through the eruption of Mount St. Helens and their mother's astonishment that they didn't wake up despite the sound resembling a falling boulder.
In previous episodes Caleb and Greg have discussed the rampant fraud in the Paycheck Protection Program (PPP). But in this episode, the guys discuss a much less talked about program that was also subject to a lot of pandemic relief fraud: Economic Injury Disaster Loans (EIDL).
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Email us at ohmyfraud@earmarkcpe.com
Sources:
- 1980 Grand Island tornado outbreak [Wikipedia]
- Economic Injury Disaster Loans [SBA]
- Business Physical Disaster Loans [SBA]
- Current Declared Disasters [SBA]
- Coronavirus Aid, Relief, and Economic Security Act
- Paycheck Protection Program and Health Care Enhancement Act
- Disaster Assistance Upate Nationwide COVID EIDL, Targeted EIDL Advances, Supplemental Targeted Advances April 28, 2022 [SBA]
- Inspection of Small Business Administration’s Initial Disaster Assistance Response to the Coronavirus Pandemic
- COVID-19 EIDL Program Recipients on the Department of Treasury’s Do Not Pay List
- Georgia man admits submitting false information to obtain COVID-19 disaster relief funding [DOJ]
- Georgia man who used COVID relief funds to buy Pokemon card sentenced to prison [DOJ]
- He Spent $57,000 in Covid Relief on a Pokémon Card. Now the U.S. Owns It. [NYT]
- Florida Man [Wikipedia]
- Florida Man Beats Out Heart Disease As Nation's No. 1 Killer [The Onion]
- Florida ‘Don’t Say Gay’ forced disclosure amendment withdrawn [WFLA]
- Florida State Representative Indicted For Wire Fraud, Money Laundering, And Making False Statements [DOJ]
- Florida Lawmaker Charged With Pandemic Aid Fraud [NYT]
- State Rep. Joe Harding resigns after federal indictment for wire fraud [TBT]
- Former Florida State Representative Pleads Guilty To Wire Fraud, Money Laundering, And Making False Statements In Connection With Covid-19 Relief Fraud [DOJ]
- North-Central Florida Blimp Company Executive Sentenced To Over Five Years In Federal Prison For COVID-19 Relief Fraud [DOJ]
- Florida blimp executive, relative of former state lawmaker, sentenced to federal prison in pandemic fraud [SFSS]
Postscript
Since we recorded this episode, there have been a couple developments:
1. The Small Business Administration released a new report entitled "COVID-19 Pandemic EIDL and PPP Loan Fraud Landscape" on June 27, 2023. It estimates that the total amount of fraud between EIDL and PPP is ~$200 billion.
2. Former Florida Representative Joe Harding requested that his sentencing be pushed back a couple months. He still faces a maximum sentence of 35 years after pleading guilty to wire fraud, money laundering and making false statements about COVID-19 relief aid he received.
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