A $1 Billion Bonanza for Phantom Companies.

Authors :: Mider, Zachary R.
Grotto, Jason
Source :: Bloomberg Businessweek; 8/31/2020, Issue 4669, p34-35, 2p, 1 Graph, 1 Cartoon or Caricature
Publication Year :: 2020
Abstract: The article reports that more than $1 billion in United States (U.S.) federal aid money from the Small Business Administration (SBA) may have gone to phantom companies. The authors discuss the Economic Injury Disaster Loan (EIDL) grants approved during the beginning of the coronavirus pandemic and explore how they were fraudulently taken.