“Open Banking helps to make the eBay Seller Capital application process easier, faster and more holistic for small businesses, so we can help more eBay sellers start and grow their businesses,”

In one of the more notable COVID-relief fraud cases to hit the lending industry, a California business loan broker has been sentenced to nearly four years in prison for orchestrating a scheme to defraud the Small Business Administration’s Economic Injury Disaster Loan (EIDL) program.

In the summer of 2020, while small businesses across America struggled to survive the economic devastation of the COVID-19 pandemic, Darren Carlyle Sadler was living a very different reality. The 38-year-old Costa Mesa businessman had discovered what he believed was the perfect opportunity hidden within the chaos of the federal government's rushed response to the crisis.

Stephanie Hockridge and her husband, Nathan Reis, co-founded Blueacorn in April 2020 at the height of the pandemic panic. The platform was positioned as a rapid-response solution for distributing PPP funds to small businesses locked out of traditional banking channels. But according to federal prosecutors, Blueacorn became a machine of fraud, processing over $12.5 billion in loans while implementing virtually no guardrails to prevent abuse.

Federal prosecutors continue their aggressive pursuit of Paycheck Protection Program (PPP) fraud, with two recent high-profile convictions demonstrating that the Department of Justice remains committed to holding fraudsters accountable nearly five years after the pandemic began.

The Securities and Exchange Commission has filed a complaint in the Nevada District Court against two men for what amounts to a Ponzi scheme very similar to the MJ Capital case we covered last year in Miami Federal Court.

The SBA is taking steps to strengthen the integrity of its loan programs with the implementation of new anti-fraud measures. These changes are being introduced with the stated support of the Department of Government Efficiency.

As the sentencing hearing of former CEO of MJ Capital Johanna Michele Garcia began, I looked around at the people in the courtroom wondering

Smallwood, who was part of the Eagles' Super Bowl-winning team, is accused of submitting fraudulent applications to both the Economic...

The case against defendant Johanna Michely Garcia, who was the CEO of MJ Capital and several other entities, has crossed its last major...

On Thursday he was finally indicted by a Federal grand jury on 5 counts of wire fraud related to the deposit of $5 million he received...

Small business lending fraud experienced a significant surge in 2023, with a 13.6% increase compared to the previous year

A significant development in the long-running Par Funding case. According to reports, investors in the Philadelphia-based loan company...

They put the burden of proof on the person they're accusing of having the loan.

A handcuffed Johanna Michely Garcia clad in her brown jumpsuit sat with her two attorneys in a Miami Federal courthouse opposite prosecutors

The MJ Capital saga is winding its way through the court system with the latest updates from Johanna Garcia's case in late June being a...