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Topic:

Cases of Paycheck Protection Program (PPP) Loan Fraud

Essay Instructions:

Summarize, in 90 to 175 words, how this case relates to the concepts covered this week on ethical practices

Cases of PPP Loan Fraud

https://youtu(dot)be/UKnPPzXuRw4

https://youtu(dot)be/XqosdowBKEY

https://youtu(dot)be/Z3lStl0g5NU



Essay Sample Content Preview:

How the PPP Loan Fraud Cases Relate to Course Concepts
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How the PPP Loan Fraud Cases Relate to Course Concepts
Paycheck Protection Program (PPP) loan frauds can reveal accounting failures and prompt restatements because of financial information alteration. When companies or persons participate in fraudulent practices connected to the PPP program, they will likely falsely misrepresent their accounting reports or records to show their worthiness for loans. KCAL News (2021) presented the case facing an Orange County man called Mustafa Qadiri. The defendant was busted for the PPP scheme fraud as he took a huge loan from the United States (U.S) government and bought himself three luxurious cars, a Lamborghini, Bentley, and Ferrari. The fraudulent activity reflected inaccurate financial statements that led to accounting errors. The offender’s alleged businesses did not show the actual financial position even after restatements.
Secondly, CNBC Television reported that applying the PPP loans required less information, including only providing basic information about the applicant’s business and a bank account for the funds to be deposited (CNBC ...
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