TBA Law Blog


Posted by: Stacey Shrader Joslin on Jan 24, 2022

A group of federal prosecutors are investigating up to $90 billion in suspected CARES Act and Paycheck Protection Program fraud across the United States, the Nashville Business Journal reports. The investigation is looking to catch undeserving recipients of emergency stimulus funds approved by Congress as COVID-19 slammed the country's economy. Funding was intended to help employers meet payrolls, supplement state unemployment payments and ease or eliminate fines and fees. By late December, a total of 366 indictments, 294 arrests and 142 convictions had been recorded for a total of more than $460 million so far, according to the Small Business Administration inspector general.