Institute for Policy Studies Settles False PPP Loan Allegations

The US Attorney’s Office has reached a $501,161 settlement with the Washington, D.C.-based Institute for Policy Studies involving Second Draw Paycheck Protection Program Loan allegations, according to a Monday news release.

IPS resolved allegations that the nonprofit falsely certified its eligibility to receive a loan from the Small Business Administration program, the US Attorney’s Office for the District of Massachusetts said.

The nonprofit admitted as part of the settlement that it falsely certified to the SBA that it wasn’t a think tank primarily engaged in political or lobbying activities despite publicly stating otherwise, which violated the Coronavirus Aid, Relief, and ...