Big banks subpoenaed in federal probe of possible coronavirus loan fraud

Posted by on May 16, 2020 11:23 am
Categories: US National Stories

Some big banks have received grand jury subpoenas as part of a federal investigation into possible fraud involving the $660 billion coronavirus emergency loan program for small businesses, according to a new report Saturday. Two sources told Reuters that the Justice Department had sent subpoenas to major banks, but did not name the institutions. JPMorgan…