Hundreds of PPP Loans Went to Fake Farms in Absurd Places
Economic Policy,PPP,Banking And Finance,Economy And Jobs,Coronavirus Stimulus,Agriculture
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 governmentโs relief program for small businesses wound down last summer, โRitter Wheat Clubโ and โDeely Nuts,โ ostensibly a wheat farm and a tree nut farm, each got $20,833, the maximum amount available for sole proprietorships. โTomato Cramber,โ up the coast in Brielle, got $12,739, while โSeaweed Bleimanโ in Manahawkin got $19,957.
None of these entities exist in New Jerseyโs 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, โBeefy King,โ was registered in PPP records to the home address of Joe Mancini, the mayor of Long Beach Township.
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