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Scottsdale-based Blueacorn PPP facilitated fraud, per newly released congressional report

Summary by Ground News
Blueacorn PPP helped process more than $12 billion in PPP loans, according to the company. Blueacorn received over $1 billion in taxpayer-funded processing fees. It transferred nearly $300 million in profits to its owners while only spending $8.6 million on fraud prevention.

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abc 15 Arizonaabc 15 Arizona
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Scottsdale-based Blueacorn PPP facilitated fraud, per newly released congressional report

A Scottdale-based company that filed Paycheck Protection Program applications failed to screen out those with signs of fraud while abusing the program, according to a new congressional subcommittee.

·Phoenix, United States
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abc 15 Arizona broke the news in Phoenix, United States on Thursday, December 1, 2022.
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