Owner of Jet Charter Company Settles False Claims Act Allegations Regarding Misappropriation of Payment Protection Program Loan
Seth A. Bernstein, the owner of jet charter company All in Jets LLC dba JetReady, located in Florida, has agreed to pay $287,055 to settle allegations that he misappropriated Payment Protection Program (PPP) loan proceeds for his personal expenses. JetReady is a jet charter operator with its principal place of business in Fort Lauderdale, Florida. The United States alleged that Bernstein, on behalf of JetReady, applied for and received a PPP loan totaling $1,173,382 in April 2020. Within a day of receiving the loan proceeds, Bernstein allegedly diverted $98,929 of the funds to pay for personal, non-company related expenses. The CARES Act authorized billions in loans to small businesses struggling to pay employees and other business expenses.justice.gov
3 Metro Detroiters, 19 others charged in $11 million COVID payment protection fraud scheme
Three residents from Metro Detroit and 19 others across the country have been charged in connection with an $11 million fraud scheme centered around COVID-19 paycheck protection loans for businesses, feds said.
Biden to make it easier for smallest businesses to take out a PPP loan
Starting Wednesday, for a two-week period, only businesses with 20 employees or fewer will be able to apply for relief through the PPP program, Mr. Biden said in remarks Monday at the White House. Many of these businesses, he noted, had trouble obtaining relief in the early rounds of PPP, which was aimed at helping Americans keep their jobs. It handed out 5.2 million loans worth a total of $525 billion, helped many businesses stay on their feet, supporting some 51 million jobs. He pointed out that his plan "targets $50 billion to support the hardest hit small businesses after this program expires at the end of March." Without passage of the legislation, Mr. Biden said these small businesses would "continue to go under."cbsnews.com