The Justice Department on Tuesday filed fraud charges against two businessmen in Rhode Island for allegedly trying to access Paycheck Protection Program (PPP) funds despite not having any employees.
The two men are charged with conspiring to seek forgivable loans guaranteed by the SBA, claiming to have dozens of employees earning wages at four different business entities when, in fact, there were no employees working for any of the businesses.
Read on for more details about the first individuals in the nation charged with allegedly defrauding the PPP.