Yeah a quick audit is all it takes. The is routinely done for loans over a certain amount
Atlanta Reality Star charged with federal bank fraud for misusing PPP Funds
- Thread starter King_of_Posts
- Start date
Dude was finished the moment that money hit his account. ANY PPP loan over 2 million automatically gets a full audit. This isn't to say other questionable disbursements won;t get scrutinized......but 2 million absolutely guarantees it.
www.cnbc.com
Small business loans above $2 million will get full audit to make sure they're valid, Mnuchin says
The program faced backlash after several public companies disclosed they had taken out the loans, which were intended to help small businesses with fewer than 500 employees weather the coronavirus crisis.
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Trying to let Brothas know that if you ain’t falsified documents then you good
if you spend it on dumb shit they just will ask for the funds back but not filing Federal charges
looks like you trying to get a mothafucka locked up on some funky finger production type shit
Feds could give a damn what you spent the money on if you obtain the funds through legit documents. If you used the funds properly then they will forgive the loan and if not then you owelooks like you trying to get a mothafucka locked up on some funky finger production type shit
I figured dude had fake documents for the feds to get involved
It's possible to only have to pay back the funds and be barred from receiving any money from the feds for a certain amount of time or permanently. Yet they also have the option to lock yo ass up. That is always the case when you commit a crime. Catchup...
I’m trying to see how did he even qualify for that amount .... What type of credit or assets do you need to have to get a loan over 2 mil ....
It's based on your monthly payroll. 2.5 times what the business pays in payroll each month. So, he must have been able to show payroll reports of roughly $500k per month.
goofy nigga shit
but at least (i hope) the kids benefit from child support being paid
but at least (i hope) the kids benefit from child support being paid
and never will be
That's how fast he was spending it. Yeah that shit sticks out Everytime you spend 10k + at a time
Smart. I haven't touched it yet. I pay out next week so it won't be bothered with til then.
You gotta remember what's the first thing they do when they get those bailouts and stuff....
Give themselves a raise. = Payroll
Petty expenses
Business related expenses
Etc.
Dude just went about it all wrong. Shit he could've done that was so simple to prevent any of this from happening. See he never had his bookkeeper cut him a paycheck or complete transactions under his business, etc. He just dipped in the cash and went shopping.
Give themselves a raise. = Payroll
Petty expenses
Business related expenses
Etc.
Dude just went about it all wrong. Shit he could've done that was so simple to prevent any of this from happening. See he never had his bookkeeper cut him a paycheck or complete transactions under his business, etc. He just dipped in the cash and went shopping.
thanks man.
Hey settle another one for us. Water. Wet?
You're like an autistic energizer bunny. Shit wild.
That's why I'm like dude don't even seem to know enough to manage that kind of bread the right way anyway
He was just sloppy with his shit. A good friend of the family was approved for 4.5 million. The catch is, by taking the money, you open yourself up to financial scrutiny. She said she does not want anyone looking through her books with a fine tooth comb. Not many businesses would. This is why ALL the airlines turned down the money.
Cool you finished now? Can we move on to a new topic
Nigga shit.
Where are you all getting these multi million-dollar approvals from? The monthly payroll has to be 1.6m to qualify for that. Does your friend run an airline or a cruise line ?
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Lol the only sensible thing he bought was the Rolex.Nigga went and got a Wraith tho.....
I'm on your ass for dumb comments, you choose when it ends.Cool you finished now? Can we move on to a new topic
To old for that
That speaks more to his lack of self control than anything else. He did it to himself. No sympathy.
Oh well.
How would you get dinged on a Auto finance Loan?
Ehhh. So he bought the solid gold shit right?
He got have gotten 4 brand new day dates for his trouble.
But his purchases show he was trying hard.
I am sure he has his hands in mad things.
Wonder if the wraith was 2 tone. Some of those color combos are amazing.
Do you know you can custom pick your colors and even do totals? Like 2 shades of gray? Mean!
He got have gotten 4 brand new day dates for his trouble.
But his purchases show he was trying hard.
I am sure he has his hands in mad things.
Wonder if the wraith was 2 tone. Some of those color combos are amazing.
Do you know you can custom pick your colors and even do totals? Like 2 shades of gray? Mean!
For those of you who accepted the loan, please be aware if you claim a 1099 employee situation you will definitely be audited. I'm saying this because we audit businesses who claim they only have contractors all the time at the state level. Not to mention we notify the IRS. I'm sure there's possibly loopholes but I wouldn't risk it. Just my 2 cents
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