Strand Book Store, Inc. to Pay Nearly $1.5 Million for Improper Receipt of Paycheck Protection Program Loan
The United States Attorney for the District of Columbia announced today that Strand Book Store, Inc. has agreed to pay $1,482,560 because the New York City bookstore violated the False Claims Act by improperly applying for and receiving a second draw loan under the Paycheck Protection Program (PPP) for which it was not eligible. Strand was ineligible because Senator Ron Wyden’s wife was the owner.
What happened
The United States Attorney for the District of Columbia announced today that Strand Book Store, Inc. has agreed to pay $1,482,560 because the New York City bookstore violated the False Claims Act by improperly applying for and receiving a second draw loan under the Paycheck Protection Program (PPP) for which it was not eligible. Strand was ineligible because Senator Ron Wyden’s wife was the owner.
Why it matters
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Affected entities
View evidence
1 reports · 1 original report · 1 independent
- U.S. Department of JusticePrimary source · Supports · EN · 100%Strand Book Store, Inc. to Pay Nearly $1.5 Million for Improper Receipt of Paycheck Protection Program Loan ↗
Claims
- Strand Book Store, Inc. to Pay Nearly $1.5 Million for Improper Receipt of Paycheck Protection Program Loan Observed
Conflicts
No material conflict detected in the available evidence.
Timeline
- First reported
Market move following event
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