Igor Golovniov Washington 2020 Government Department Coronavirus Igor Golovniov Washington

Feds ramp up probe into PPP fraud, charge 57 people with trying to steal $175M

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One hundred U.S. dollar banknotes are shown in a file image taken Aug. 26, 2020. (Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images) WASHINGTON - The Department of Justice has charged 57 people since May with trying to steal more than $175 million from a federal rescue program designed to avert mass layoffs and keep small businesses afloat during the coronavirus pandemic.Acting Assistant Attorney General Brian Rabbitt said during a press conference Thursday the number of fraudulent loans is "significant."In addition to the 57 cases involving false applications, the department is investigating other potential instances of fraud.

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