Almost $1.5 billion dollars in Paycheck Protection Program loans were given to some of the wealthiest law and accounting firms in the U.S.
According to CNY Central, these firms had no financial hardships.
Adam Andrzejewski is the founder of OpenTheBooks.com, a government transparency group that uncovers instances like this while working as a watchdog.
The group worked on analyzing $1.4 billion dollars in PPP loans given during the COVID-19 pandemic. The loans were passed quickly by Congress as a way to help small businesses struggling due to the national lockdown in 2020.
Around $800 billion dollars were fast tracked to help these businesses quickly, and it turned out that $1.4 billion of it went toward huge and wealthy law and accounting firms that did not need it.
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