Tenley Carp Quoted in Philadelphia Business Journal Article on PPP Fraud
AGG partner and Government Contracts practice leader, Tenley Carp, was quoted in a February 16, 2023, article published by Philadelphia Business Journal titled, “Justice Department Left to Mop Up After Flood of PPP Fraud in Philadelphia and Across the Nation.”
Tenley explained there were a few factors that led to the significant amount of fraud: the speed at which the program was implemented, limited risk controls, and conflicting guidance from the government.
As there was no fraud detection until the program reached the stage of loan forgiveness, Tenley said if a borrower received funds but never initiated the loan forgiveness process, there was no follow up, which spurred much of the fraud.
To read the full article, please click here.
- Tenley A. Carp