Incidences of fraud, waste and abuse in PPP loans, oversight panel says

Besides borrowers receiving multiple loans, the Democrats found 613 PPP loans, totaling $93 million, went to companies barred from doing business with the federal government. A further 353 loans, totaling $195 million, went to government contractors “with significant performance and integrity issues,” said the subcommittee’s seven Democrats, including New York City's Carolyn Maloney and Nydia Velazquez.

The Democrats highlighted the case of seven businesses in different industries that listed the same nonexistent address in Ohio on their loan applications. The address appears to be the back of a restaurant. The loans totaled more than $10 million.

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