Getty ImagesKey FactsBellamy was charged with wire fraud and bank fraud and conspiracy to commit wire fraud and bank fraud in a federal criminal complaint filed in the Southern District of Florida. Key BackgroundThe PPP loan, created as part of the $2.2 trillion CARES Act, has received widespread criticism. Following weeks of requests for transparency on who got funding, the Trump administration released the names of companies that received PPP loans of $150,000 or more in July. Disclosure: Forbes Media LLC confirmed on July 6, 2020 that it received a Paycheck Protection Program loan of $5 million to $10 million on April 15. Further ReadingPress StatementComplaintKanye West, West Virginia’s Governor Jim Justice And 16 Other Billionaires’ Businesses Got PPP Loans (Forbes)

Source: Forbes September 10, 2020 22:54 UTC