• Senators advanced a bill that would give prosecutors more time to bring pandemic fraud cases.
• They cited Business Insider's reporting on potential misuse of Shuttered Venue Operators Grant funds.
• The Small Business Administration says 69% of the $14.6 billion SVOG program may have been misspent.

Lawmakers just came closer to giving US prosecutors more time to pursue billions of dollars in suspected pandemic-aid fraud tied to restaurants and live entertainment — and cited Business Insider's investigation into how those funds were used by celebrities.

Senators passed a long-delayed bill on Wednesday night that would extend the statute of limitations for fraud tied to two relief programs: the $28.6 billion Restaurant Revitalization Fund and the $14.6 billion Shuttered Venue Operators Grant.

The bill would put the programs on the same legal footing as bigger, better-known pandemic aid packages that lost as much as $200 billion to fraud, like the Paycheck Protection Program. If it becomes law, prosecutors will have 10 years to bring charges of defrauding the programs, instead of the usual five.

Earlier this week, the Government Accountability Office reported that as much as $10 billion from SVOG funds may have been improperly paid out, which is more than 200 times larger than a fraud estimate the Small Business Administration published three years ago.

Business Insider previously reported that hundreds of millions of dollars were paid out to successful artists like Lil Wayne, Post Malone, metal legends Alice in Chains, and DJs including Steve Aoki and Marshmello. They used the money on private jets, luxury clothes, and payments to themselves, according to the investigation.

Sen. Joni Ernst, an Iowa Republican who has been the bill's main advocate, invoked that reporting in remarks on the Senate floor on Wednesday.

"For fraudsters, time flies when you're having fun," she said. "Look no further than rapper Chris Brown, who exploited the SVOG program to pay for his lavish $80,000 birthday party and paid himself $5 million in the process."

Lawyers and representatives for Brown didn't respond to requests for comment. Previously, in response to Business Insider's late 2024 investigation, an attorney for the accounting and wealth management firm that helped Brown's company get a federal grant, NKSFB, called Business Insider's questions "uninformed" and didn't answer them.

COVID fraud cases get more time

The bill passed with an amendment that would require enforcement to be "carried out in a nonpartisan manner," said Sen. Ed Markey, the top Democrat on the small-business committee that Ernst chairs.

The SBA has said that 70% of the restaurant support funds paid out by the RRF program were proper, but that it's "unknown" whether the remaining $8.7 billion was legally paid to eligible recipients. The agency's inspector general previously said more than $6 billion was paid out without doing enough to verify that recipients qualified for the money.

The agency has previously defended cutting checks under the shuttered venues program to "loan-out companies" used by big-name artists to ink performance deals.

Recipients included Broadway shows, arts companies, and cultural institutions that asked Congress for help paying bills they'd run up during the year-plus when public gatherings were limited because of the COVID-19 pandemic. The law also allowed payments to lesser-known groups, like talent agents.

There was no requirement that recipients be on the brink of bankruptcy. One Texas concert promoter received a $10 million grant in July 2021. About four months later, he bought a home for $2.1 million in cash.

The law creating SVOG allowed grant recipients to use the money for a broad range of purposes, including expenses deemed "ordinary and necessary" as well as compensation to the owners of for-profit businesses that received the money.

The new estimate of $10 billion in payment errors amounts to about two-thirds of the program's entire budget. SBA officials said that $4.5 billion of that was overpayments to businesses that "did not align with the established statutory guidelines" for payment. They also found errors with the monitoring of recipients' spending.

In 2023, the Biden administration said that one-third of 1% of the entertainment grants were "likely fraudulent." Government watchdogs say only some "improper payments" amount to fraud, so the new number isn't an apples-to-apples comparison with the 2023 figure.

More than 2,000 people have been sentenced for defrauding pandemic aid programs. The SBA inspector general has said many more cases are pending.

• I took my first Peloton cycling class ever — in person.
• Led by Jess King, the 30-minute workout flew by and felt like a party.
• Despite the popularity of its virtual classes, Peloton is finding other ways to grow its business.

Admittedly, I missed out on the pandemic-era Peloton hype.

Even though most of my friends couldn't fit the iconic exercise bikes into their cramped New York City apartments, they still enjoyed the perks of a membership.

They'd do audio-only classes and keep up with the brand's rising stars. By osmosis, I knew who Ally Love was, and that she was teaching a themed ride to celebrate her wedding.

Years later, Peloton has had to adjust to a changing market. It reopened its in-person classes in 2022, launched AI-powered coaching features, and recently announced the launch of commercial gym bikes and treadmills.

After a pandemic-era subscriber surge and subsequent slowdown in growth, Peloton worked to find new ways to compete with in-person gym offerings, while also dealing with direct at-home workout competitors like Echelon and Tonal.

Amanda Hill, Peloton's SVP of Global Content Strategy and Programming, told Business Insider that the brand plans to triple its in-person events in 2026, including collaborations with SXSW, F1, and the London Marathon.

"Human connection is an essential part of our magic formula," Hill said. "Stoking community fuels our strong membership retention."

So when I got an invite from Culturelle Probiotics to try an in-person cycling class with Jess King, their chief wellness ambassador, I was intrigued. Having never taken a Peloton class before, I was curious: Would the experience feel as dazzling to someone who hadn't developed an attachment to its instructors?

I was starstruck despite being unfamiliar with Peloton

Before the class, the group of journalists and wellness influencers received a brief tour of Peloton's facilities. It has the feel of a traditional gym and polished content operation — where small, in-person classes double as live broadcasts to its global subscriber base.

Located in the Hudson Yards neighborhood of Manhattan, the studio spanned two floors and was probably the most pristine gym I've ever been in.

We glimpsed into one production room for the brand's virtual yoga class, a lone mat in front of loads of film equipment.

I could imagine the excitement of someone who took years of Peloton classes — to them, this would be the equivalent of a Hollywood tour.

The class felt like a production, too. The lights were dimmed to a universally flattering purple, and a Peloton employee adjusted everyone's bikes and helped them lock their shoes to their pedals.

Before King, who's one of the brand's stand-out personalities, emerged, an announcer mentioned going on the "ride of our lives." I turned to the woman next to me, who blurted out exactly what I was thinking: "This is like Disney World."

While I'm personally used to a lot less fanfare in my fitness classes, the intentionality felt nice. This wasn't just another workout squeezed in between waking up and hustling to work. It was 30 minutes of intense cycling mixed with the brand's signature affirming energy.

Peloton fans who attend these classes typically register up to six weeks in advance. The ones visiting New York treat signing up similarly to getting rush tickets to Broadway, employing all the tricks to ensure they snag a spot to see their favorite Peloton stars.

It isn't a class: It's an event, after all.

The class flew by because it felt like a party

Never having taken a virtual class with King, who, before Peloton, was a professional dancer and even a finalist on "So You Think You Can Dance," I still felt like I was in the midst of a celebrity when she entered the stage in fully bedazzled cycling shoes.

King seamlessly walked us through how to adjust our bikes' resistance with the muscle memory of someone who's done this since 2014. She possessed the same charisma and discipline of a seasoned actor. King also emphasized letting go and having fun with her EDM soundtrack — a less common gym class instruction, in my experience.

The 30-minute class zoomed by. Even as a complete newbie, the gear was easy to use, and there was enough variety to keep the class neither too boring nor tediously challenging.

King's words of encouragement, delivered with the cadence of a fitness star, also helped everyone relax into the workout.

It was a well-oiled production, which, ironically, is what made it feel so organic and fun.

Peloton isn't building more studios anytime soon

That being said, at this time, the brand isn't investing in building more studios outside its existing ones in New York and London.

I can understand the move. As someone who's attended my fair share of classes at both luxury gym franchises and mom-and-pops, many have fallen into the same trap: wanting to make more money through rapid expansion at the expense of gym-goers.

Eventually, this can lead to more squished and precarious circumstances. Three people sharing a strength training station. Rushing to snatch the last pair of dumbbells that work for you. Suddenly, you feel less like a member and more like a body to stuff into a studio.

Peloton exploded in popularity because of its personalities and how safe they made their fans feel during an otherwise unstable time in their lives. I appreciate Peloton holding on to that magic like a card to its chest — even when it's tempting to just be like every other fitness brand.