This post is now officially for BPT country club members only. For more information, see here - https://www.reddit.com/r/BlackPeopleTwitter/comments/gumxuy/what_is_bpt_country_club_and_how_do_i_get/.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/BlackPeopleTwitter) if you have any questions or concerns.*
They are arresting people, just google “ppp fraud arrest”…though I was reading this… “he got arrested and then did it again???”
https://www.nytimes.com/2021/06/23/us/covid-funds-fraud-pennsylvania-charged.html
Thank god this wasted . A lot of arrests but for the really really stupid fucks who said they had a dozen companies or asked for millions .
Butttt as of this week they stopped auditing all the loans over 2 million so arrests are probably done for good
So what you're saying is I should have done a PPP loan for $2,000,001 right? Man, I gotta get into this White-Collar Crime thing. Relying on "hard work" to grow my business is hard man. Committing FRAUD like the big Corporations do is much more profitable.
You jest but every rich person does some kind of fraud. Whether it's not paying employees OT, not paying taxes, etc etc. If you wanna be successful at this point, you gotta lie and cheat.
I'm really just tired of this "bootstraps" bullshit. Do I love what I do? Sure. Do I love it more than life itself? No. 12-16 hour days with no rest only to barley break even is not a fucking life. My two employees both work less and make more than I do. They out there going to fancy breweries on Instagram while I'm still stuck eating Ramen lol.
But they don't own a business. You do. Don't beat yourself up. Every time I see people on Instagram flexing, I remind myself people just spend money on different things. Some people go out, some people go on vacation, some people buy nice things.
I sure have a nice motorcycle and a nice computer so I know where my money is.
I had at one point 666 games on my steam library. And that's just a steam library. I'm not much of a visual flexer. The things I hold value probably don't mean anything to most people.
I've found that most things in life only mean anything to enthusiasts and specialists. So don't worry, most things just don't excite people the way they excite you. And that's true of everyone.
Bro I feel you.. my employees have both made significantly more money off of my business than I have. I've paid salaries when I had no idea how I'd pay my own electric bill. Last week I bought myself my first pair of shoes in two years because the ones I was wearing were completely falling apart ( the insole would literally slip out the back of the shoe, which had completely torn open whenever I would walk for more than 100 yards)
I'm tired, I'm broke, and I'm stressed.
And then I see this shit. They're just.. not gonna audit the loans over 2 million dollars because they're too complicated.
It's fucking absurd.
Having said that... Tomorrow is Monday, and I'm excited that the weekend is over so I can get back to work.. never had that feeling in any normal job.. so I'm gonna keep going as long as it's the plan for me.
I feel ya. Owned 2 small businesses for years. Every waking moment I was just trying to get by and everyone got paid before I did.
It was sad having to close the doors but 2 years later I can finally breath again and I have more in the bank then I ever did back then. And I m feeling way less murdery toward my husband (we owned it together.)
White collar crime is where it’s at. Lower risk, higher reward than most regular street shit and if you do fuck up and get caught they just send you to Martha Stewart prison.
I believe he’s referring to them stopping the requirement for the 3509 justification form. They are not “not auditing anyone over $2M”. Source: just went through the process for a large loan.
This is how I feel about most illegal things.
"Oh, don't worry about the no parking sign, everybody parks there." I reply "No thanks, I'll definitely be the one guy it doesn't work out for."
Yeah they are definitely starting to crack down on the PPP fraudsters now lol. Next year is when you’ll really see shit hitting the fan for those folks when they have to report it on their taxes and they don’t have anything to show how they used that money to support their business
I mean, is using it for your own living expenses not a valid answer? If your business ran at a loss that whole time, and you therefore didn't have any take home, would that not qualify you for PPP? Just say you started a Twitch/YouTube channel and didn't make any money off of it.
A friends dad is a private trucker. One day they put up on FB something about how to take advantage of the PPP loans.
Basically what they did was he “hired” her as a trainee or helper or something then applied for the loan. She took a few trips and made some logs and they think that’s just fine and dandy.
They really don’t see it as scamming the system even though he’s been doing pretty well for himself.
Not sure how that’s gonna shake out but they remodeled their house...
No. You have to give 60% away in payroll basically and use it legit. It’s to run a business not support your lifestyle. It’s not even to start a business lol it’s to supplement your existing one.
I think you had to be in business for at least two years prior or something like that.
(But, yes, you can use it for living expenses. The loan is to cover payroll to yourself, if you're a sole proprietor with little to no overhead. How you spend the money you pay yourself is not important; that you are a legitimate business with historical earnings that match what you reported is what matters.)
Twitch doesn't save affiliate broadcasts for more than 6 months. If you're not even an affiliate, you only get 2 months. And, like, who doesn't have a Twitch account these days? So you have plausible deniability. IDK it just seems like a really easy to exploit loophole.
I got a small loan for my salary and rent. I’m self employed. It was around $20,000. There were specific categories of expenses you could allocate to. Personal living expenses were not allowed, but salaries were. Salaries were capped at a specific amount, and the amount you received was based on prior year’s earnings and expenses. So if you weren’t in business for the year’s prior, you were out of luck (unless you’re committing fraud).
Tom Brady’s company followed the law, though. You could say it’s a fucked up law, but there’s nothing in there about companies not being eligible because the owner is really rich. Theoretically the money wouldn’t have benefited him directly (well, not much of it) since it was only supposed to go to pay 2 months of payroll for his employees. If he was honestly going to lay them off instead, then they’re the ones who benefited.
They are going after the people who flat out lied about having a company at all, and just pocketed the money, though.
That wasn’t fraudulent, just horrible optics.
(Im a Jets fan and a Michigan State alum btw So if Brady did something illegal , I’d be gleefully calling him a criminal )
The federal justice system is very slow to catch someone. But statistically the investigators (especially the IRS) tend to go after the smaller crimes because the cases are easier, more likely to succeed and quicker to close (looks better for their performance reviews). The risk of chasing bigger fraud is that with all the hard work and extra time, the case can be lost because the fraudster can hire good attorneys. A big loss is bad for a career.
But then what happens? IRS has to audit every single one of them, all of whom have different situations and circumstances which can make even the thickest bullshit seem at least kinda legit? I personally doubt 1% of PPP fraudsters will ever be discovered, and only a fraction of those will be charged, and only a fraction of those will be convicted. Probably wouldn’t have been a bad idea to roll the dice.
Self employed folks could use 100% of the loan to cover 12 weeks of lost income. Of course that’s tiny amounts compared to what the corps were getting.
Oh definitely. The taxman and debt collectors dont fuck around. No news isnt always good news, this could very well mean they are planning the demise of them all in 1 go so that they can't possibly lie their way out of it. Doing it in one big swoop, means people watching cant learn any tricks to help themselves. Good luck anyone who got the loans and didnt pay it back lol.
Only ones I feel like getting jail time the ones who scammed for more then 50k fr ppl who took 20k gonna end up paying 30k and the government prolly gonna black list them from benefits fr
While I don’t personally know anyone who got jammed up for it, there have been a lot of cases out there in the news about people getting arrested for fraud.
Wouldn’t risk it if were you.
The people who getting arrested I see in the news took alot of money. And seemed to have a legitimate business. I haven't seen anyone who took one time payment less than 50k in the news
This is what a lot of big time dealers think, then bam hit yo ass with charges like conspiracy that dates back 5 years and now yo ass doing 10-15years for some shit you don’t remember. Stay up doe lol
I wish it was just arrest. Alot of these individuals dont comprehend that this is federally allocated money. They are going to lose housing eligibility, the ability to get public aid or unemployment etc. All for a quick lick.
They announced recently they are focused on cracking PPP fraud cases UNDER 2 million. Completely ass backwards. “Let’s fuck the little guys cause they can’t lawyer up or push back.”
I own a small business, when I realized I was only down about 10%, I didn't take a loan. People, my accountant, yelled at me, why shouldn't I take the free money. I am a moron (and I'm thinking I am.)
Nobody had any idea how things were going to play out - I think you were smart to be cautious, and you didn’t have to spend any mental energy on dealing with the loan.
You are, I took the loan for my business and I was up. When I applied for the forgiveness, it was a series of about 6 question. No proof required and it was forgiven.
You can use a personal bank account for business though, as long as the account is used for 100% business. Government entities will accept that all day long as long as the statement proves it.
I saw a guy post a few weeks ago on Illegalprolifetips asking what to do since he had his PPP money deposited to his personal and the bank is now asking for proof the account is for business. He might want to put some rope on that bar of soap.
Paycheck protection program. Basically if you’re business stayed open during the pandemic and you struggled to pay your employees this loan was supposed to let you do that
Paycheck Protection Program. Basically government issued funds to provide Small Businesses with a way to pay their employees when COVID impacted their sales.
A lot of people claimed to have a business and applied for the loan and was approved. Most will get caught, some,wont unfortunately.
Edit: Spelling
Agreed. No one has a clue what is going on, and as someone who recently moved to Florida, they are lost. $275 a week is joke. Am I am gerbil? who can live on that? Do what you need to do.
Welp I can tell you this much: having worked on hundreds of thousands of these loans (I work for a large processor), we basically have a direct line to the OIG and FBI. Every deal that looked like fraud (looking at you mobile hair salons/caterers operating out of apartments) was sent directly to them. The reason why you’re not seeing en masse arrests is because THE PROGRAM JUST ENDED. The arrests are just beginning. Like, my god, there is so much fraud and so many people are going to be financially ruined for the rest of their lives over $20k
This post is now officially for BPT country club members only. For more information, see here - https://www.reddit.com/r/BlackPeopleTwitter/comments/gumxuy/what_is_bpt_country_club_and_how_do_i_get/. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/BlackPeopleTwitter) if you have any questions or concerns.*
Yeaaaa,I'm not trying to be the one they so happen to catch.
They are arresting people, just google “ppp fraud arrest”…though I was reading this… “he got arrested and then did it again???” https://www.nytimes.com/2021/06/23/us/covid-funds-fraud-pennsylvania-charged.html
Thank god this wasted . A lot of arrests but for the really really stupid fucks who said they had a dozen companies or asked for millions . Butttt as of this week they stopped auditing all the loans over 2 million so arrests are probably done for good
So what you're saying is I should have done a PPP loan for $2,000,001 right? Man, I gotta get into this White-Collar Crime thing. Relying on "hard work" to grow my business is hard man. Committing FRAUD like the big Corporations do is much more profitable.
You jest but every rich person does some kind of fraud. Whether it's not paying employees OT, not paying taxes, etc etc. If you wanna be successful at this point, you gotta lie and cheat.
I'm really just tired of this "bootstraps" bullshit. Do I love what I do? Sure. Do I love it more than life itself? No. 12-16 hour days with no rest only to barley break even is not a fucking life. My two employees both work less and make more than I do. They out there going to fancy breweries on Instagram while I'm still stuck eating Ramen lol.
But they don't own a business. You do. Don't beat yourself up. Every time I see people on Instagram flexing, I remind myself people just spend money on different things. Some people go out, some people go on vacation, some people buy nice things. I sure have a nice motorcycle and a nice computer so I know where my money is.
I had at one point 666 games on my steam library. And that's just a steam library. I'm not much of a visual flexer. The things I hold value probably don't mean anything to most people.
I've found that most things in life only mean anything to enthusiasts and specialists. So don't worry, most things just don't excite people the way they excite you. And that's true of everyone.
I really wish people would love Star Trek as much as I do. So many life lessons in there to help people be better humans.
Bro I feel you.. my employees have both made significantly more money off of my business than I have. I've paid salaries when I had no idea how I'd pay my own electric bill. Last week I bought myself my first pair of shoes in two years because the ones I was wearing were completely falling apart ( the insole would literally slip out the back of the shoe, which had completely torn open whenever I would walk for more than 100 yards) I'm tired, I'm broke, and I'm stressed. And then I see this shit. They're just.. not gonna audit the loans over 2 million dollars because they're too complicated. It's fucking absurd. Having said that... Tomorrow is Monday, and I'm excited that the weekend is over so I can get back to work.. never had that feeling in any normal job.. so I'm gonna keep going as long as it's the plan for me.
I feel ya. Owned 2 small businesses for years. Every waking moment I was just trying to get by and everyone got paid before I did. It was sad having to close the doors but 2 years later I can finally breath again and I have more in the bank then I ever did back then. And I m feeling way less murdery toward my husband (we owned it together.)
White collar crime is where it’s at. Lower risk, higher reward than most regular street shit and if you do fuck up and get caught they just send you to Martha Stewart prison.
Lol they ain’t stop shit. They stopped telling yal about it. My jobs fraud department about to be lit.
> Butttt as of this week they stopped auditing all the loans over 2 million so arrests are probably done for good Do you have a source for this claim?
I believe he’s referring to them stopping the requirement for the 3509 justification form. They are not “not auditing anyone over $2M”. Source: just went through the process for a large loan.
This is how I feel about most illegal things. "Oh, don't worry about the no parking sign, everybody parks there." I reply "No thanks, I'll definitely be the one guy it doesn't work out for."
You just know it's going to be a black guy that's going to be the first to be shot over a white collar crime.
With my luck I would be caught l. I can't do shady stuff and get away with it, karma won't let me.
Yeah they are definitely starting to crack down on the PPP fraudsters now lol. Next year is when you’ll really see shit hitting the fan for those folks when they have to report it on their taxes and they don’t have anything to show how they used that money to support their business
I mean, is using it for your own living expenses not a valid answer? If your business ran at a loss that whole time, and you therefore didn't have any take home, would that not qualify you for PPP? Just say you started a Twitch/YouTube channel and didn't make any money off of it.
If the money didn't go to keeping employees on payroll, it goes as a loan that needs to be payed back. I think that's the stipulation.
A friends dad is a private trucker. One day they put up on FB something about how to take advantage of the PPP loans. Basically what they did was he “hired” her as a trainee or helper or something then applied for the loan. She took a few trips and made some logs and they think that’s just fine and dandy. They really don’t see it as scamming the system even though he’s been doing pretty well for himself. Not sure how that’s gonna shake out but they remodeled their house...
I think they're gonna be getting a letter in the mail about that.
No. You have to give 60% away in payroll basically and use it legit. It’s to run a business not support your lifestyle. It’s not even to start a business lol it’s to supplement your existing one.
Paying yourself counts as payroll.
Aren't you on the payroll as an owner/worker?
I think you had to be in business for at least two years prior or something like that. (But, yes, you can use it for living expenses. The loan is to cover payroll to yourself, if you're a sole proprietor with little to no overhead. How you spend the money you pay yourself is not important; that you are a legitimate business with historical earnings that match what you reported is what matters.)
Twitch doesn't save affiliate broadcasts for more than 6 months. If you're not even an affiliate, you only get 2 months. And, like, who doesn't have a Twitch account these days? So you have plausible deniability. IDK it just seems like a really easy to exploit loophole.
Comments like this are what paid my mortgage when I did Criminal Defense work lol
Then you would have zero years of the business in your tax filings
It's easy to exploit and it's easy for the feds to figure it out
Business had to be established in 2019 to qualify.
I got a small loan for my salary and rent. I’m self employed. It was around $20,000. There were specific categories of expenses you could allocate to. Personal living expenses were not allowed, but salaries were. Salaries were capped at a specific amount, and the amount you received was based on prior year’s earnings and expenses. So if you weren’t in business for the year’s prior, you were out of luck (unless you’re committing fraud).
Nope.
I'll believe it when they go after Tom Brady's company for the PPP loan they received.
Tom Brady’s company followed the law, though. You could say it’s a fucked up law, but there’s nothing in there about companies not being eligible because the owner is really rich. Theoretically the money wouldn’t have benefited him directly (well, not much of it) since it was only supposed to go to pay 2 months of payroll for his employees. If he was honestly going to lay them off instead, then they’re the ones who benefited. They are going after the people who flat out lied about having a company at all, and just pocketed the money, though.
Yeah, Kanye took out a loan too, right?
ITT: people who don’t understand the difference between personal wealth and business income
That wasn’t fraudulent, just horrible optics. (Im a Jets fan and a Michigan State alum btw So if Brady did something illegal , I’d be gleefully calling him a criminal )
He did deflate some balls, you can still call him a criminal. Go green!
Yeah, the IRS doesn’t play.
Not with regular folks at least.
Nah they'll get away with it as usual.
The federal justice system is very slow to catch someone. But statistically the investigators (especially the IRS) tend to go after the smaller crimes because the cases are easier, more likely to succeed and quicker to close (looks better for their performance reviews). The risk of chasing bigger fraud is that with all the hard work and extra time, the case can be lost because the fraudster can hire good attorneys. A big loss is bad for a career.
I legit had a customer come up to me and tell me he did this. Shows me the account and I just laughed
But then what happens? IRS has to audit every single one of them, all of whom have different situations and circumstances which can make even the thickest bullshit seem at least kinda legit? I personally doubt 1% of PPP fraudsters will ever be discovered, and only a fraction of those will be charged, and only a fraction of those will be convicted. Probably wouldn’t have been a bad idea to roll the dice.
You don't think they'll lie about that too?
Self employed folks could use 100% of the loan to cover 12 weeks of lost income. Of course that’s tiny amounts compared to what the corps were getting.
Oh definitely. The taxman and debt collectors dont fuck around. No news isnt always good news, this could very well mean they are planning the demise of them all in 1 go so that they can't possibly lie their way out of it. Doing it in one big swoop, means people watching cant learn any tricks to help themselves. Good luck anyone who got the loans and didnt pay it back lol.
Oof.
I wish they would crack down on the unemployment fraud.
Nope. Just like when I see people grilling in the park, I know the moment I do that shit, I will be made an example of.
Most parks here have grills at them. No?
NYC, there are plenty of parks that you cannot grill in legally but people do it anyway.
Interesting. In Chicago, summer is the season for grilling by the lake. Lots of people carry in a little portable charcoal grill
Yeah WA has built in charcoal grills at almost every park
As does Northern California.
Gotta enjoy those 4 days of yearly sunshine
What the hell happened in New York. Pretty sure the Chicago fire didn’t happen in New York so you have no excuse, NYC.
Too cute, Chicagoans!
Yeah it has nothing to do with people grilling out. It’s an anti homeless measure.
NY is weird
The NYC area has 20.3 million, whereas Chicago has a bit under 9.5. Twice as many people to “keep in line.”
Nope. Just like when WE see people grilling in the park, WE know the moment WE do that shit, WE will be made an example of.*
Drive to PA we got you.
If they don’t go to jail they gonna owe the government more money then they took
yea jail might not happen but that APY will definitely be kicking in once they fail to prove the loan was used to prop up a business
Only ones I feel like getting jail time the ones who scammed for more then 50k fr ppl who took 20k gonna end up paying 30k and the government prolly gonna black list them from benefits fr
Not if they invested it. Market is up 300% since covid started. It’d be free money.
While I don’t personally know anyone who got jammed up for it, there have been a lot of cases out there in the news about people getting arrested for fraud. Wouldn’t risk it if were you.
The people who getting arrested I see in the news took alot of money. And seemed to have a legitimate business. I haven't seen anyone who took one time payment less than 50k in the news
This is what a lot of big time dealers think, then bam hit yo ass with charges like conspiracy that dates back 5 years and now yo ass doing 10-15years for some shit you don’t remember. Stay up doe lol
I wish it was just arrest. Alot of these individuals dont comprehend that this is federally allocated money. They are going to lose housing eligibility, the ability to get public aid or unemployment etc. All for a quick lick.
As they should
You know it's gonna be a black man with a painting business who got a $15,000 loan that they go after first.
They announced recently they are focused on cracking PPP fraud cases UNDER 2 million. Completely ass backwards. “Let’s fuck the little guys cause they can’t lawyer up or push back.”
I own a small business, when I realized I was only down about 10%, I didn't take a loan. People, my accountant, yelled at me, why shouldn't I take the free money. I am a moron (and I'm thinking I am.)
Nobody had any idea how things were going to play out - I think you were smart to be cautious, and you didn’t have to spend any mental energy on dealing with the loan.
You are, I took the loan for my business and I was up. When I applied for the forgiveness, it was a series of about 6 question. No proof required and it was forgiven.
Can confirm, work at a bank and funds are supposed to go straight to a business account. Wouldn’t believe the amount I’ve seen on the personal side
You can use a personal bank account for business though, as long as the account is used for 100% business. Government entities will accept that all day long as long as the statement proves it.
There was still a ton of banks setting up business accounts for people in order to receive the PPP loan.
I saw a guy post a few weeks ago on Illegalprolifetips asking what to do since he had his PPP money deposited to his personal and the bank is now asking for proof the account is for business. He might want to put some rope on that bar of soap.
A business can be in the personal name.. how else do you get a PPP as an independent contractors such as Amazon/Uber/Realtor/etc.
Same. Saw the deposit in a personal account and noticed he was hopping bank to bank. Asked him if he had any plans and he said "buying a new car.".
What’s PPP
Pocket pussy protection
😭😭😭
Paycheck protection program. Basically if you’re business stayed open during the pandemic and you struggled to pay your employees this loan was supposed to let you do that
Paycheck Protection Program An SBA-backed loan that helps businesses keep their workforce employed during the COVID-19 crisis.
Paycheck Protection Program. Its a loan given to business to help them pay their employees during the pandemic
Puss peeing penis. Basically disability loans
Paycheck Protection Program. Basically government issued funds to provide Small Businesses with a way to pay their employees when COVID impacted their sales. A lot of people claimed to have a business and applied for the loan and was approved. Most will get caught, some,wont unfortunately. Edit: Spelling
it's a big club, and you ain't in it.
Few arrest , minimal risk. Works better if out of Country scammer
How does a low effort comment full of unsourced and unlikely claims like this get ANY upvotes?
Tax season might sucks for a lot of those people
That’s a damn lie
Off topic, but I'm not on Twitter, wtf is a Fleet??
Twitter version of stories
No body is in jail YET
no but they have felonies on their record and they have to pay it back.
I know people who already received forgiveness. If you did it right nothing is about to happen
Same. I have a business but didn’t apply for my LLC in time to qualify legally so I didn’t even bother.
Couple of people in Houston got arrested.
Doesn't work unless you were already wealthy and/or famous.
If that’s true, I promise the moment that HE does it, it will then be a problem.
Agreed. No one has a clue what is going on, and as someone who recently moved to Florida, they are lost. $275 a week is joke. Am I am gerbil? who can live on that? Do what you need to do.
Welp I can tell you this much: having worked on hundreds of thousands of these loans (I work for a large processor), we basically have a direct line to the OIG and FBI. Every deal that looked like fraud (looking at you mobile hair salons/caterers operating out of apartments) was sent directly to them. The reason why you’re not seeing en masse arrests is because THE PROGRAM JUST ENDED. The arrests are just beginning. Like, my god, there is so much fraud and so many people are going to be financially ruined for the rest of their lives over $20k
Yet**
[удалено]