The Paycheck Protection Program distributed hundreds of billions of dollars to small businesses across the US at the height of the pandemic. This program, also know as the PPP, was a lifeline for hundreds of thousands of businesses but it also allowed one of the largest frauds in US history to take place.
In this video, Ryder breaks down this new information, based on a 150 page Congressional report, and how a couple fintech companies in particular enabled thousands of fraudsters and criminals to make off with tens of billions of dollars in taxpayer dollars.
This comprehensive report is likely just the tip of the iceberg to this story.
How did these companies allow fraudsters to take advantage of this program? How did greed corrupt decision making? And will the owners of these companies be brought to justice? What do you think?