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Thursday, September 9, 2021

"COVID" CON MAN: David Damante Scores An "Independent Contractor" PPP Loan; What Happened To "Alkalete PH", "PawSitive PH" (Or Were Those Just Phony Shell Companies?)

Looks like (almost) anybody can get a PPP loan.

Case in point: convicted felon David Damante, who was awarded a $20,832.00 PPP loan as an "independent contractor" through Prestamos CDFI, LLC via FinTech lender BlueAcorn.

An August 17, 2021 study, "Did FinTech Lenders Facilitate PPP Fraud?", authored by three University of Texas at Austin business school professors, determined that BlueAcorn (founded in April 2020 exclusively to source PPP loans in partnership with Capital Plus and Prestamos CDFI) relied heavily on online advertising promoting easy access to PPP money, and anecdotal discussions on forums such as Reddit suggest that both employed identity verification that was not rigorous.

Money is "Ferrari Dave's" jones, especially when he can take it from someone else.


 

 

 

 

 

 

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