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ADMIN 2020. 09. 28.  
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   제목: JPMorgan Finds Some Workers Improperly Pocketed Relief Funds


JPMorgan Finds Some Workers Improperly Pocketed Relief Funds

By Michelle F Davis and Sridhar Natarajan

September 10, 2020

JPMorgan Chase & Co. found that some of its employees improperly applied for and received Covid-relief money that was intended for legitimate U.S. businesses hurt by the pandemic, according to a person with knowledge of the matter.


The bank discovered the actions, all of which were tied to the Economic Injury Disaster Loan program, after noticing that suspicious amounts of money had been deposited into checking accounts owned by bank employees, said the person, who asked not to be identified because the information is private. The findings prompted an unusual all-staff message from JPMorgan Tuesday that puzzled many across the industry for its candid admission of potentially illegal acts by some of its own while not describing what they had done.

The Small Business Administration뭩 disaster loan program had been expanded significantly after the pandemic led to rolling shutdowns across the country, leaving many small enterprises in need of a cash lifeline. Unlike with the Paycheck Protection Program, banks didn뭪 issue or underwrite the disaster loans and grants. Instead, loans or grants came directly from the SBA.


The findings of employee misconduct came in a broader sweep of individual accounts that received business aid, the person said, noting the bank fired people it believes improperly tapped the money. The SBA warned banks July 22 to be on the lookout for suspicious deposits or activity as part of the EIDL program.

Excerpts articles from Bloomberg
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