Engineering News-Record quoted national Construction Leader Joseph Natarelli in an article about fraudulent use of Payroll Protection Program (PPP) loans.
By Richard Korman & Scott Van Voorhis
Joseph Natarelli, national leader of construction services at accountant Marcum, says he could see a contractor legitimately getting confused, commingling PPP money with other funds to buy a piece of equipment or other business expense.
But Natarelli sees no wiggle room to claim confusion–or even moral hazard–as a mitigating factor. “To be frank, the program was very, very clear what those funds could be used for, for payroll and rent,” Natarelli said.