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Joe Biden announces PPP loan fraudsters aren’t off the hook as he will appoint a prosecutor to investigate fraud and theft of small business loans.

President Biden Delivers His First State Of The Union Address To Joint Session Of Congress

Source: Pool / Getty

Since the pandemic uprooted most Americans’ lives in 2020, there were only a few resources available to small business owners and people who found themselves unemployed. We saw people get busted for unemployment fraud and EDD fraud by rapping about it, which isn’t too surprising due to them telling on themselves.

With PPP loans, however, it was a whole different ballgame.

Suddenly, everyone on the ‘Gram had money, and it was eye-opening. The authorities slowly took notice of those who couldn’t resist the huge purchases like a Florida man who was arrested after purchasing a Lamborghini, alongside athletes and entertainers who were also busted for fraudulent PPP loans.

Last night, President Biden announced that he’s ready to dig deeper and get the skilled scammers who may be still flying under the radar.

“The previous administration not only ballooned the deficit with tax cuts for the very wealthy and corporations, it undermined the watchdogs whose job was to keep pandemic relief funds from being wasted,’ said Biden, then he revealed under his administration: ‘The watch dogs are back.”

“We’re going after the criminals who stole billions in relief money meant for small businesses and millions of Americans,” he continued.

‘”nd tonight, I’m announcing that the Justice Department will name a chief prosecutor for pandemic fraud.”

WELP!

Dread it, run from it, the government and IRS will always be there to collect what’s theirs and hold you accountable if you took what wasn’t yours. If you thought you got away free with the false PPP loan, it might be time to try and find a lawyer as the boys are on their way.

You can watch the full State of the Union speech below.

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