Hijacked! CCP-Linked Firms May Have Received More Than $400 Million in PPP Loans

Federal tax officials should launch a forensic audit and investigation of more than 125 U.S. firms with significant links to the Chinese Communist Party (CCP) that received up to $420 million in Paycheck Protection Program (PPP) loan funds last year, according to the founder of a citizens group devoted to government transparency.

“Communist Chinese defense contractors used a legal loophole to hijack up to $400 million meant for small businesses on Main Street at the peak of the pandemic. It’s time to forensic audit these firms. On behalf of the American taxpayer and mom and pop businesses everywhere, the IRS must investigate and claw back any ill-gotten gains,” Open the Books founder and Chief Executive Officer Adam Andrzejewski told The Epoch Times on May 3.

Open the Books is an Illinois-based educational foundation that filed more than 40,000 Freedom of Information Act (FOIA) requests in 2020 for documentation of government spending at all levels to advance its goal of ensuring citizens have access to “every dime online, in real time.”

Andrzejewski was referring to a report published in August 2020 by Horizon Advisory, a strategic consulting firm, that found the massive outflow of U.S. tax dollars to companies with known links to the CCP.