Philadelphia Bank Manager, New York Accomplice Nabbed for 38 False COVID-19 Loans
CAMDEN, NJ – Tommy Hawkins, a former branch manager of a national bank, and Sieff Robert Sargeant, a New York resident, have pleaded guilty to charges related to a multi-state COVID-19 relief…
UAW wants U.S. to bar loans, subsidies for Hyundai over workplace issues
By David Shepardson (Reuters) -The United Auto Workers (UAW) union on Friday called on the Biden administration not to award any subsidies, loans or other taxpayer support until Hyundai Motor agrees to…
World Bank cites overdue payments, puts loans to Belarus in ‘nonperforming’ status
By Andrea Shalal WASHINGTON (Reuters) – The World Bank said on Monday it had placed all loans made by its main lending arm to Belarus into “nonperforming” status effective immediately, citing overdue…
French development minister backs World Bank reforms, calls for U.S. SDR loans
By David Lawder WASHINGTON (Reuters) – France’s development minister is backing U.S. Treasury Secretary Janet Yellen’s call for the World Bank and similar institutions to vastly expand their lending, but said the…
Fake Home Loans Land Perpetrators in Prison
MIAMI – After previously pleading guilty to Conspiracy to Commit Wire Fraud and Aggravated Identity Theft, Ana Amador and Sunilda Casilla were sentenced in federal court to prison and ordered to pay…
China’s Sept new yuan loans seen rising on policy support: Reuters Poll
BEIJING (Reuters) – China’s new yuan loans are expected to rise in September from August, a Reuters poll showed, as the central bank seeks to spur an economy hobbled by a property…
Crypto lender Celsius not seeking payments for outstanding loans
(Reuters) – Bankrupt crypto lender Celsius Network said on Friday it is not seeking to enforce payment obligations for outstanding loans during its Chapter 11 proceedings and that borrowers do not need…
China offers loans of $42 billion for infrastructure spending
BEIJING (Reuters) – China has distributed an additional 300 billion yuan ($42 billion) allocated for infrastructure projects through three state policy banks as of Wednesday, the official Securities Times reported on Thursday.…
Lack of credit sends Venezuelan businesses seeking loans abroad
By Mayela Armas CARACAS (Reuters) – Venezuelan business owners struggling to get access to credit amid their country’s continued economic crisis are seeking loans through foreign banks, business people and finance industry…
Irvine Man Sentenced to 4 Years in Federal Prison for Obtaining More Than $5 Million in COVID-Relief Loans for Sham Businesses
LOS ANGELES – An Orange County man was sentenced today to 48 months in federal prison for fraudulently obtaining more than $5 million in COVID-relief loans for three shell companies. …
Beverly Hills Man Pleads Guilty to Charge for Using Fake Companies in Scheme to Steal Millions of Dollars in COVID Small Business Loans
LOS ANGELES – A Beverly Hills man – whose sons pleaded guilty earlier this month to felonies for defrauding COVID-relief programs – pleaded guilty today to a federal criminal charge for…
China’s largest policy bank to boost infrastructure loans to local govts
BEIJING (Reuters) – The China Development Bank (CDB) said on Thursday it will increase the number of infrastructure loans it gives to local governments, while prioritising the needs of major economic provinces.…
EU countries can use 225 billion euros of EU loans for energy crisis
BRUSSELS (Reuters) – European Union countries can use 225 billion euros ($227.57 billion) in untapped loans from the EU’s recovery fund to address energy problems and other challenges resulting from the Russian…
Former Louisiana Woman Indicted for Preparing Over 110 Fraudulent PPP Loans Totaling Over $1.1 Million Dollars
NEW ORLEANS, LOUISIANA – United States Attorney Duane A. Evans announced today the indictment of SHARNAE EVERY (“EVERY”), age 27, of Houston, Texas, who was charged with one (1) count of Conspiracy…
Exclusive-Greece plans to repay euro zone bailout loans early for first time – sources
By Lefteris Papadimas ATHENS (Reuters) – Greece will repay ahead of schedule 2.7 billion euros of loans owed to euro zone countries under the first bailout it received during its decade-long debt…
Biden Admin Forgives $1.5 Billion In Loans From For-Profit College That Promised Students Jobs
Biden Admin Forgives $1.5 Billion In Loans From For-Profit College That Promised Students Jobs Reagan Reese on August 30, 2022 The Department of Education (DOE) is relieving $1.5 billion in student loans…
Forget Student Loans, Powerful Shore Republican Fat Cat Had $196,000 COVID Loan Forgiven
TOMS RIVER, NJ – As Republicans push back on student loan debt forgiveness, one prominent attorney and New Jersey Republican Assemblyman is keeping quiet, at least publicly. New Jersey Assemblyman Republican Greg…
Lacey Man Had Two Student Loans Fraudulently Opened in His Name
On Wednesday, August 10, 2022, at 10:21 a.m., Officer Lee responded to police headquarters to take a report of fraud. Officer Lee met with the victim, who advised that he had recently…
China to accelerate disposal of smaller banks’ bad loans
BEIJING – China may start a pilot program in six provinces to further speed up the disposal of bad loans by local small- and medium-sized banks, financial news media outlet 21jingji reported…
Canadian home buyers return to fixed-rate loans as economy wobbles
By Nichola Saminather TORONTO – Canadian home buyers are shifting to fixed-rate mortgages at the fastest pace in a year, on bets that more rate hikes from the central bank are in…
China’s July new yuan loans expected to more than halve from June: Reuters poll
BEIJING – China’s new yuan loans are expected to fall back in July after record lending in the first half, a Reuters poll showed, but they are still likely to exceed the…
SpiceJet loans ‘high risk’ for some lenders, say sources
By Nupur Anand and Aditi Shah MUMBAI -Three Indian banks have internally categorised loans to SpiceJet Ltd as being at “high risk” though the airline has not defaulted, people with knowledge of…
Riverside County Man Pleads Guilty to Federal Criminal Charges for Fraudulently Obtaining $6.6 Million in COVID-Relief Business Loans
LOS ANGELES – A Corona man pleaded guilty today to federal criminal charges in connection with a scheme to submit false loan applications that brought him more than $6.6 million in…
A Math Error Cost The Government Nearly $200 Billion On Student Loans. Here’s How
A Math Error Cost The Government Nearly $200 Billion On Student Loans. Here’s How John Hugh DeMastri on July 29, 2022 The Department of Education (DOE) overestimated the revenue from the federal…
Harlan County Man Sentenced to 33 Months for Fraudulently Obtaining COVID Relief Loans
LONDON, Ky. – A Harlan, Ky., man, David Christopher Lewis, 49, was sentenced to 33 months in federal prison on Thursday, by U.S. District Judge Robert E. Wier, after pleading guilty to…
Mortgage Company to Pay $20 Million Settlement with City for Denying Loans Based on Location
PHILADELPHIA, PA – A mortgage company has settled to a $20 million payout for targeting minority neighborhoods in Philadelphia, deny loans simply based on where they live. According to the Pennsylvania Attorney…
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