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Hundreds of PPP Loans Went to Fake Farms in Absurd Places

Economic Policy,PPP,Banking And Finance,Economy And Jobs,Coronavirus Stimulus,Agriculture

From the Left

The shoreline communities of Ocean County, New Jersey, are a summertime getaway for throngs of urbanites, lined with vacation homes and ice cream parlors. Not exactly pastoral โ€” which is odd, considering dozens of Paycheck Protection Program loans to supposed farms that flowed into the beach towns last year.

As the first round of the federal governmentโ€™s relief program for small businesses wound down last summer, โ€œRitter Wheat Clubโ€ and โ€œDeely Nuts,โ€ ostensibly a wheat farm and a tree nut farm, each got $20,833, the maximum amount available for sole proprietorships. โ€œTomato Cramber,โ€ up the coast in Brielle, got $12,739, while โ€œSeaweed Bleimanโ€ in Manahawkin got $19,957.

None of these entities exist in New Jerseyโ€™s business records, and the owners of the homes at which they are purportedly located expressed surprise when contacted by ProPublica. One entity categorized as a cattle ranch, โ€œBeefy King,โ€ was registered in PPP records to the home address of Joe Mancini, the mayor of Long Beach Township.

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