PPP Loan #2386137304
THE WINNER’S CIRCLE, INC. is a Subchapter S Corporation located at NEWINGTON, CT with 87 employees. During round 1 of the paycheck protection program, THE WINNER’S CIRCLE, INC. requested a PPP loan for 1011000 USD. They were approved on 04/29/2020 by the SBA for an amount of 1011000 USD. The loan was facilitated by Webster Bank, National Association, WATERBURY, CT. Of the approved amount, THE WINNER’S CIRCLE, INC. has received an amount of 1011000 USD for payroll proceeds.
The SBA forgave 1020860.71 USD of this loan on 05-05-2021 under PPP.
THE WINNER’S CIRCLE, INC. claimed to use the loan towards salary for 87 employees totaling to an amount of 1011000 USD
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|Company Name||THE WINNER’S CIRCLE, INC.|
|Street Address||58 COMMERCE COURT|
PPP Loan details for THE WINNER’S CIRCLE, INC.
|Loan Amount||1011000 USD|
|Current Approved Amount||1011000 USD|
|Loan Tenure||24 months|
|Loan Approved on||06/19/2021|
|Lender Bank||Webster Bank, National Association|
|Lender Bank City||WATERBURY|
|Lender Bank State||CT|
Demographic details for THE WINNER’S CIRCLE, INC.
|Business Age||Existing or more than 2 years old|
How THE WINNER’S CIRCLE, INC. Claims To Have Used Their PPP Funds of 1011000 USD
As we have discussed earlier, THE WINNER’S CIRCLE, INC. received a substantial amount of money through the SBA program. But have they used it correctly? Let’s analyze.
1THE WINNER’S CIRCLE, INC. claims to have spent 1011000 USD to pay salaries of 87 employees.
2THE WINNER’S CIRCLE, INC. claims to have have been honest, ethical and deserving of this PPP Loan (2386137304) of 1011000 USD.
3THE WINNER’S CIRCLE, INC. claims to not have misused the PPP Loan in any ways.
These amounts were reported to the SBA by the company. Often, however, . If you think THE WINNER’S CIRCLE, INC. has done something nefarious, then report them here using the review box at the bottom of the page.
What Constitutes A PPP Loan Scam?
The primary goal of PPP loans was to help businesses survive the pandemic and ensure that people don’t lose their employment. Businesses who took out these loans could spend the borrowed sum on:
- Salaries, bonuses, commissions, wages (maximum $100,000 per annum per employee)
- Insurance premiums
- Employee allowances (sick leaves, medical, parental, and vacation pay)
- Operational expenditure
- Utility payments
- Mortgage interest payments
Federal authorities are aggressively targeting individuals and companies for PPP loan fraud. Launched in March 2020 in response to the economic uncertainty that was triggered by the novel coronavirus (COVID-19) pandemic, the PPP made hundreds of millions of dollars in federal funding available to businesses struggling as a result of the pandemic. Loans issued under the PPP carry a 1% interest rate, but the loans are completely forgivable if certain conditions are met.
The low-cost (and potentially free) funds offered under the PPP have proven to be attractive not only to struggling businesses, but also to larger companies and scam artists. This has led to worry of widespread fraud (and a few highly-publicized cases of fraudulent PPP loan applications), and it has forced numerous federal agencies to turn their attention to combatting PPP loan fraud.
Penalties For Abusing Or Wasting The PPP Funds:
When a person is charged with PPP loan scam charges, they can face multiple civil and criminal penalties. Even a single PPP loan fraud case might involve multiple criminal laws.
You can face a penalty of up to 20 years behind bars.
- The first charge would be wire fraud. It invokes 18 USC Sec. 1343 and involves the use of a phone or internet to scam another party by using false statements.
- Bank fraud charges might also be filed against you. It invokes 18 USC Sec. 1344 and involves making false statements to a financial institution such as a bank. The penalty for this charge goes up to 30 years behind bars.
- A PPP loan fraud also includes making false statements to a financial institution, a federal crime. It invokes 18 USC Sec. 1014 and its violation leads to a jail 14 of up to 30 years.
- Finally, when you commit a PPP loan scam, you violate 18 USC Sec. 1349, conspiracy to commit fraud. It is a criminal offense when someone colludes with others in violating or attempting to violate federal laws whether they obtained money or not.
The authorities have been rather vigilant in finding people who committed PPP loan frauds.
The above are just two instances of people getting caught by the authorities for this scam. Here’s another:
Frequently Asked Questions About PPP Loan Scam
Did THE WINNER'S CIRCLE, INC. get a PPP loan?
Yes. THE WINNER’S CIRCLE, INC. applied and was granted a PPP loan
How much PPP Loan did THE WINNER'S CIRCLE, INC. receive?
Where is THE WINNER'S CIRCLE, INC. located?
THE WINNER’S CIRCLE, INC. is located in NEWINGTON,CT
How much did THE WINNER'S CIRCLE, INC.'s PPP loan went towards paying salaries?
As per THE WINNER’S CIRCLE, INC., 1011000 USD went towards payroll proceeds
Which bank financed THE WINNER'S CIRCLE, INC.'s PPP Loan?
Webster Bank, National Association in WATERBURY,CT financed THE WINNER’S CIRCLE, INC.’s PPP Loan
What is the term for THE WINNER'S CIRCLE, INC.'s PPP loan?
How many employees were reported by THE WINNER'S CIRCLE, INC. in their PPP loan application?
How much of THE WINNER'S CIRCLE, INC.'s PPP loan was forgiven?
1020860.71 USD was forgiven on 05-05-2021
Footnotes and Citations
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. IsItaScam.com does not modify the data and makes no claims regarding its accuracy, nor will entertain any request to remove any entry.
The inclusion of a person or entity in the IIAS Database is not intended to suggest or imply that they have engaged in illegal or improper conduct related to PPP Loan (scam). IIAS intends to offer a platform where suspicious activities related to PPP loan can be shared and discussed in a secure environment. Please contact usif you find an error in the database.
Relevant links, resources and news –
- Up to three-quarters of the $800 billion in disbursed PPP funds flowed to business owners instead of workers, study finds
- SBA OIG Complaint Submission Form
- How my boss is using the PPP loan
- Is PPP Loan Fraud The Largest Fraud Of All Time?
- The looting of the Covid relief plan known as PPP
- 22 people charged in connection with a multi-million dollar Paycheck Protection Program fraud scheme
- Charged: PPP Scammers
- Small Businesses Are Being Hit by PPP Loan Scams
- 15% of Paycheck Protection Program Loans Could Be Fraudulent, Study Shows
- Man Passes Out After He’s Found Guilty of PPP Loan Fraud
- Helena man sentenced for PPP loan fraud
- What are the Charges for PPP Loan Fraud?
- Cape Coral woman pleads guilty to PPP loan fraud, accused of using money for a pool
- Biggest fraud in a generation
- PPP Loan Scams: 900 open criminal investigations, 100 arrested so far
- Bank Fraud Involving PPP Loans Could Lead to Prison Time, Even for Relatively Small Advances
- Money from the COVID Paycheck Protection Program was allegedly largely misspent
- Florida Man Charged With PPP Loan Fraud After Allegedly Misusing Millions To Buy Luxury Goods
What THE WINNER’S CIRCLE, INC.’s Employees and Consumers can do to report potential PPP Scam?
There is no record of THE WINNER’S CIRCLE, INC. committing any sort of PPP Scam reported anywhere. However, that can change quickly, and this page allows employees, citizens and consumers to share information on THE WINNER’S CIRCLE, INC. they are privy to, and expose any/all wrongdoings.
User Rating for THE WINNER'S CIRCLE, INC.
THE WINNER'S CIRCLE, INC. took out a PPP loan worth $1011000 for Payroll Processing for it's 87 employees. As tax-payers, we need to hold businesses accountable and ask serious questions. Our rating on THE WINNER'S CIRCLE, INC. is based on multiple factors, including publicly available information, reviews and user notifications.
Add your review | Read reviews and comments
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Scammers are very good at disguising the fact that these lists are all you get for your money. And Winners Circle is no different. The Winners Circle letter looks like an official document with bar codes, registration numbers and fake watermarks on the paper.How can you check if a website is legit? ›
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As of Nov 13, 2022, the average hourly pay for a Work From Home Winners Circle in the United States is $28.23 an hour.How much does winners circle training cost? ›
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Your phone number is an easy access point for scammers and identity thieves. Once they know your number, they can use it to send you phishing texts, trick you into installing malware and spyware, or use social engineering attacks to get you to hand over your personal identifying information (PII).Can a scammer steal your identity? ›
Scammers can steal your identity by obtaining your personal financial information online, at the door or over the phone. What they want are account numbers, passwords, Social Security numbers, and other confidential information that they can use to loot your checking account or run up bills on your credit cards.How can a scammer know so much about you? ›
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Contact your bank immediately to let them know what's happened and ask if you can get a refund. Most banks should reimburse you if you've transferred money to someone because of a scam.Does The Circle pay for travel? ›
Pay is $100 per day with all shoot and travel expenses paid.
Contestants are often shown cooking up a storm in their kitchens on "The Circle," and St. Agathe revealed the producers make sure you get whatever your heart desires. "They take care of your groceries for you," she said. "You give a list and they refill your groceries for you — whatever you need, whatever you want."Who is the CEO of winners circle? ›
CEO. “I am here to show that everything is possible,” declares Kash Johns, the founder of Winners Circle Worldwide Publishing & Management.What is a winner's circle? ›
Britannica Dictionary definition of WINNER'S CIRCLE. [count] : an area where the winner of a game, contest, etc., receives his or her award. The jockey and horse approached the winner's circle.What happens if you visit an unsecure website? ›
When visiting a website with a “Not Secure” warning, all data and sensitive information being sent to the website can be stolen and modified. This warning is primarily because the website is running on an unsafe HTTP protocol rather than a secure HTTPS protocol.Does a padlock mean a website is safe? ›
When you go to a site that has a padlock icon next to the site name, it means the site is secured with a digital certificate. This means that any information sent between your browser and the website is sent securely, and can't be intercepted and read by someone else while the information is in transit.How do you know if a website has a virus? ›
A similar unbiased safety tool is VirusTotal's free website security checker, which inspects sites using over 70 antivirus scanners and URL/domain blacklisting services. This link checker for viruses detects various types of malware, computer viruses, and other security threats.Do you get your money back if you get scammed? ›
Once a fraud is reported, it should contact the bank operating the account to which your money was sent, and any that is left can be frozen. Sadly, most scam victims will find their savings are long gone. This is where the battle to get some or all of it back from your bank begins.What happens if you click on a scammer link? ›
What Happens If You Click on a Phishing Link? Clicking on a phishing link or opening an attachment in one of these messages may install malware, like viruses, spyware or ransomware, on your device. This is all done behind the scenes, so it is undetectable to the average user.What happens after you get scammed? ›
Report a Scam to the FTC
When you report a scam, the FTC can use the information to build cases against scammers, spot trends, educate the public, and share data about what is happening in your community. If you experienced a scam — or even spotted one, report it to the FTC at ReportFraud.ftc.gov.
The Bronx, New York—the borough of New York City with over 1.4 million people—has an unusually high fraud rate of over 21.5%. It is the only major city/place with a fraud rate of greater than 20% of all transactions.
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If someone steals your phone number, they become you — for all intents and purposes. With your phone number, a hacker can start hijacking your accounts one by one by having a password reset sent to your phone. They can trick automated systems — like your bank — into thinking they're you when you call customer service.
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But they can't break into your phone's software and modify it through phone calls alone. However, that's really a social engineering attack, rather than a direct phone hack. In real terms, phone calls themselves just don't have the power to spread malware or give hackers access to your device.What are 3 ways someone can steal your identity? ›
- steal your mail or garbage to get your account numbers or your Social Security number.
- trick you into sending personal information in an email.
- steal your account numbers from a business or medical office.
- steal your wallet or purse to get your personal information.
Because there is no consumer victim to report a stolen identity, accounts opened by synthetic identities often go undetected.What is the first thing you do when you get hacked? ›
Step 1: Change your passwords
This is important because hackers are looking for any point of entry into a larger network, and may gain access through a weak password. On accounts or devices that contain sensitive information, make sure your password is strong, unique—and not easily guessable.
Scammers will often get their victims to fall for some sort of overpayment scheme or ask for money in other ways, requesting payment in very specific – and red-flaggy – ways. Requesting payment in cryptocurrency, gift cards, wire transfers, or cash only should be red flags.What information does a scammer need to access my bank account? ›
The easiest way to become a victim of a bank scam is to share your banking info — e.g., account numbers, PIN codes, social security number — with someone you don't know well and trust. If someone asks for sensitive banking details, proceed with caution.How does a scammer know my name and address? ›
Spammers often release information-gathering programs called “bots” to collect the names and e-mail addresses of people who post to specific newsgroups. Bots can get this information from both recent and old posts.How do you get $500 on Cash App? ›
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Yes, this is possible. Identity theft was the number one reported type of fraud in 2020 [*], according to the FTC. When scammers gain access to your personal information by phishing, for example, they can do one or more of the following: Gain access to your bank account and spend or transfer all your money.Can someone hack my bank account with my email address? ›
It's also possible hackers could use your email account to gain access to your bank account or credit card information, draining funds from an account, or racking up charges. They might even use your email and password to sign up for online sites and services, sticking you with monthly fees in the process.Can you track a scammer? ›
An IP address can be used to trace the location of the scammer if the IP address is not hidden using a VPN or other means. There are a variety of ways to obtain someone's IP address.
Developer Response , Thanks so much for your feedback! We can confirm that we are not scamming anyone - players are controlling live, physical machines and winning real, physical prizes. We're shipping over 20,000 prizes every month to our players!How do I know if I really won the sweepstakes? ›
Win notifications usually arrive by email, postal mail, registered mail, telephone, or social media. It's important to make sure that you check the contact methods you use on your sweepstakes entry forms regularly; it's devastating to miss out on a big prize because you waited too long to check your email!How does the gift card scammer work? ›
If someone calls and asks that you pay them with gift cards, that's a scammer calling. And once they have the gift card number and the PIN, they have your money. Scammers may tell you different stories to get you to pay them with gift cards, but this is what usually happens: The caller says it's urgent.Are Online sweepstakes legitimate? ›
Unfortunately, not all sweepstakes and contests are legitimate. Sweepstakes scammers can contact you via the mail, Internet, and the phone with promises of a prize such as a car, a vacation, or a large sum of money. The scammers will say you need to pay fees to claim your prize.What money winning apps are legit? ›
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Gain access to exclusive machines, gameplay perks, better exchange rates and more tickets with every win when you're a VIP. All VIPs also get FREE shipping on all prizes, for life!
Some items will arrive in 1-2 days, while others can take up to 8 weeks to arrive. When your prize ships, we will send an email confirmation with the tracking info to follow your prize!Do sweepstakes ask for social security number? ›
Legitimate contests and sweepstakes require your SSN if you win $600 or more because they are required by law to provide that information to the IRS. The contest's official rules should list the requirements for accepting the prize, the forms you will have to fill out, and how your information will be used.Who won 2022 Publishers Clearing House? ›
Publishers Clearing House Prize Patrol deputy official Mark Wilson, left, and Prize Patrol Howie Guja, center, arrives at the home of PCH sweepstake winner Charles Greeker to inform him he has won $1,250,000, Monday, Oct. 3, 2022, in Spring.How many people actually enter sweepstakes? ›
Every year, around 55 million Americans enter some kind of sweepstakes (called “competitions” in the UK or “contests” in Canada) .Can your information be stolen from a gift card? ›
Fraudsters can virtually print money for themselves by hacking into a company gift card database to steal card numbers and activation codes.What can you do if you get scammed by a sweepstakes? ›
Report Prize Winnings and Lottery Scams
If you think you've been targeted by a prize scam: Report it to the FTC at ReportFraud.ftc.gov. You also can contact your state attorney general and your local consumer protection office. If the prize promotion came in the mail, report it to the US.
Tax on winnings should be reported to you in Box 1 (reportable winnings) of IRS Form W-2G. This includes lottery winnings, sweepstakes you entered by making a wager, church raffle tickets, or charity drawings. You can claim an itemized deduction for the amount of your wager only to the extent of your gains.Do real people win sweepstakes? ›
Do people really win sweepstakes? The answer is a resounding yes. People win prizes every day, from life-changing prizes like a new car or a new home, to fun prizes like tickets to a basketball game, a dinner out, or a brand new Apple iPad.