Fraud Friday: Farm to prison


A Florida couple who claimed to be farming in the front yards of their homes were sentenced to prison terms for using those “farms” to claim $1.1 million in PPP loans and EIDLs. The couple also claimed to operate a beauty supply store and an auto leasing business, both of which were inactive. Between the four fictitious enterprises, they claimed dozens of employees on their SBA loan applications, which were approved by a local bank. (www.justice.gov/opa/pr/couple-who-falsely-claimed-be-farmers-sentenced-11-million-covid-relief-fraud)

CPAs, get four hours of fraud CPE with our 2021 Fundamentals of Fraud Prevention & Detection On-Demand WebinarClick here for more information.