Thursday, July 08, 2021

Today's Blind Items - The PPP Scam

This A list mostly movie actor who starred in a huge movie franchise and makes tens of millions of dollar per movie, had a possible brief stint in the armed forces, but never served in active duty formed a charity with then heiress girlfriend. 

The charity has been applying and receiving HUGE amounts of COVID money well over $100,000.  To make this worse the tax reports show the charity had nearly a million dollars in its bank account at the end of 2019.  During 2020 they continued to fundraise and did basically nothing for their audience minus some virtual old movie nights.  The two founders never made a statement even to express concern to military.  The actor's involvement with the charity was a brief anniversary event. He distances himself from the charity and says it is everyone else who works on it. He shows up once a year for a huge gala ball where all their friends get dressed up and think charitable thoughts. 

In 2020 during COVID, the only thing done by the charity was raise money. There were no distributions. They had a matching grant where they raised $200,000.  Fans of the actor donated over $90,000 on go fund me in a fan driven campaign. The charity had no connection but happily accepted the money in early 2020.  They hosted a private soiree early 2020 where it was $2500 per person.  They easily raised $400-500K during 2020 plus sponsorship money.  I'm estimating they easily raised 400-500K even during 2020 plus receiving sponsorships in the hundreds of thousands. 

So why is it this now seven employee charity org needs to apply for PPP loans when they no doubt have well over a million dollars in their cash reserves?  Obviously, they are legally entitled to apply but it's so unethical that an actor millionaire and his heiress wife receive these funds for his tag line and her vanity project.  Many American small business got shut out of PPP loans by celebrities.  






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