Strand Bookstore to Repay $1.48 Million Over PPP LoanStrand Settlement Raises Questions About DOJ’s Focus on WydenStrand Must Repay Taxpayer Relief After Violating PPP Rules
The Strand Book Store in New York City agreed on November 3 to pay $1,482,560 to settle a Justice Department investigation into its second-draw pandemic loan. The department said the bookstore was ineligible because its owner, Nancy Bass Wyden, is married to Sen. Ron Wyden.The Justice Department secured a $1.48 million settlement from New York’s Strand Book Store over a second-draw pandemic loan, citing its owner’s marriage to Sen. Ron Wyden. The bookstore says the application mistake was unintentional and stemmed from rapidly changing rules.The Strand Book Store agreed on November 3 to repay $1.48 million after the Justice Department said it wrongly received a second pandemic loan despite a rule barring such loans for businesses controlled by a senator’s spouse.