During the pandemic, as shutdowns prevented businesses from operating at full capacity, the federal government stepped in to assist small business owners with loans, known as the Paycheck Protection Program (PPP), to help them stay afloat. But this funding, meant to help American owned businesses also went to Chinese owned and Chinese invested companies in the United States in the amount of $419 million dollars. To describe how this happened, Newt’s guest is Emily de La Bruyère, co-founder of Horizon Advisory.
Guest: Emily de La Bruyère
PPP Loans to PRC-owned or -invested Entities – Horizon Advisory
Articles
U.S. Small Business Bailout Money Flowed to Chinese-Owned Companies – New York Times
COVID-19 Fraud
Justice Department Takes Action Against COVID-19 Fraud – U.S. Justice Department
