Today, Acting Assistant Attorney General Brian C. Rabbitt of the Criminal Division announced new charges and progress in Paycheck Protection Program Fraud cases. Since the program was enacted, 57 people have been charged with Paycheck Protection Program fraud. Congressman William Timmons (SC-04) released the following statement:

“I applaud the Department of Justice for taking swift action to protect the integrity of the Paycheck Protection Program (PPP) and taxpayer dollars during this time of crisis. The PPP has supported the jobs of over 51 million Americans, but unfortunately, some have exploited this critical program during a global pandemic for their own financial and personal gain. Funds that should be used to save jobs and keep businesses open were instead spent on luxury cars, jewelry, homes, and more. I especially commend District of South Carolina U.S. Attorney Peter McCoy and the efforts of his office and their law enforcement partners for making the investigation and prosecution of these cases a top priority. Their office recently charged seven people in connection with a money laundering scheme of over $750,000 involving PPP funds. These actions are reprehensible and should be prosecuted to the fullest extent of the law.”