Fraudulent PPP Loans Used to Buy Real Estate, Luxury Cars, and Jewelry

• The Justice Department has charged many business owners with fraud over their PPP and EIDL loans.
• Convictions relate to sports-car purchases, million-dollar homes, jewelry, and designer handbags.
• The department has prosecuted more than 235 defendants in more than 162 criminal fraud cases.

While the Paycheck Protection Program was considered a…