Saturday, September 10, 2022

Lloyds Hit With $350 Million In Scam COVID Loans; Couple charged with fraud over COVID-19 loan requests on Lexington charity, church, and other C-Virus related stories

Lloyds Hit With $350 Million In Scam COVID Loans:
British banks have classified some $1.1 billion pounds (US$1.26bn) worth of emergency pandemic loans as fraud, according to data published Monday by the UK's Department for Business, Energy and Industry (BEIS).
Of that, Lloyds Banking Group has been hit the hardest - at roughly 300 million pounds (US$346 million) of the so-called "bounce back" loans intended for small businesses.
The bank also saw a higher ratio of likely fraud, with some 3.6% of its 8.5 billion pounds of bounce back loans marked as suspicious, according to Reuters.
Barclays, NetWest, and HSBC fared better, at 2.4%, 1.7% and 1.3% of loans classified as suspected fraud.
"Where fraud has been identified, we have acted promptly and have already recovered the majority of these funds without calling on the guarantee and we will continue to attempt to do so even after a claim has been submitted," a Lloyds spokesman told Reuters, adding that at least it's lower than the 7.5% average estimated by the scheme's administrator, the British Business Bank. --->READ MORE HERE
Couple charged with fraud over COVID-19 loan requests on Lexington charity, church:
A couple associated with a Lexington charity received more than $350,000 in coronavirus relief loans through fraudulent applications, a federal grand jury has charged.
The grand jury returned a 12-count indictment Sept. 1 against Kelly and Neal Harris. They are each charged individually with four counts of wire fraud and are named together in four other counts.
The two allegedly put false information in applications for low-interest loans meant to help businesses and non-profits with the economic downturn caused by COVID-19 in early 2020.
The applications misrepresented information such as when the businesses or non-profits started, the number of employees and gross receipts, and the nature of what they did, the indictment alleged.
Kelly or Neal Harris applied for loans through these businesses or organizations, according to the indictment: Ruby E. Bailey Family Service Center; Grace Christian Fellowship Church; Turtle Doves; North Side Market; and American Workhorse LLC.
Either Kelly or Neal Harris, or both, received loans for Turtle Doves, the Ruby E. Bailey center and the church, according to the indictment.
The total amount was $354,300. --->READ MORE HERE
Follow links below to relevant/related stories and resources:

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Dear Abby: My daughter had a private wedding due to COVID, no one sent her a gift

USA TODAY: Coronavirus Updates

WSJ: Coronavirus Live Updates

YAHOO NEWS: Coronavirus Live Updates

NEW YORK POST: Coronavirus The Latest

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