More evidence of PPP waste

Illinois’ biggest consumer bankruptcy firm DebtStoppers files for Chapter 11 bankruptcy

The Semrad Law Firm, which advertises as DebtStoppers, got millions in taxpayer-backed PPP loans while cutting U.S. staff and employing a Bulgarian company in which the law firm’s leaders have an ownership stake.

By  Stephanie Zimmermann

 

  Jul 14, 2023, 5:30am PDT

https://chicago.suntimes.com/2023/7/14/23794497/debtstoppers-semrad-law-bankruptcy-ppp-payroll-protection-plan-bulgaria-covid-debt-foreclosure

Records show the law firm received a financial lifeline during the pandemic, obtaining more than $3.8 million in loans through the federal Paycheck Protection Program that Congress launched early in the economic crisis.