News & Analysis as of

Federal Loans SBA Lending Programs Fraud

Husch Blackwell LLP

PPP Loan Audits Could Affect Millions of Borrowers

Husch Blackwell LLP on

In March 2020 during the height of the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law establishing, among other things, the Payment Protection Program (PPP) administered...more

Lathrop GPM

Illinois Federal Court Grants Franchisor’s Motion to Dismiss Terminated Franchisee’s Fraudulent Misrepresentation and Breach of...

Lathrop GPM on

A federal court in Illinois recently dismissed a former franchisee’s counterclaims for alleged fraudulent misrepresentation, breach of contract regarding the franchisor’s advertising fund, and breach of contract and implied...more

Burr & Forman

US DOJ Criminal Chief Announces 57 “Main Justice” PPP Cases

Burr & Forman on

At a September 10 press conference, Acting Assistant Attorney General Brian Rabbitt announced that the Department of Justice (“DOJ”) Criminal Division has reached 57 criminal prosecutions for fraud in connection with the...more

Miles & Stockbridge P.C.

Preparing for Government Investigations in Wake of PPP Loan Certifications

The U.S. Department of Justice (“DOJ”) is scrutinizing borrowers who have applied for loans through the Small Business Administration’s Paycheck Protection Program (“PPP”), established by the Coronavirus Aid, Relief, and...more

BCLP

US: Recent Criminal Charges for Fraud Related to PPP

BCLP on

The U.S. federal government is serious about its warning of stepped up scrutiny of borrowers seeking loans from the SBA’s Paycheck Protection Program (“PPP”), established as part of the Coronavirus Aid, Relief, and Economic...more

Vinson & Elkins LLP

Ninth Circuit Holds That SBA Loan Fraud Was Alleged Too Late: Takeaways For SBA Borrowers And Lenders

Vinson & Elkins LLP on

On April 1, 2020, the U.S. Court of Appeals for the Ninth Circuit affirmed a district court decision holding that a qui tam relator in a False Claims Act (“FCA”) action failed to file its complaint alleging Small Business...more

Ballard Spahr LLP

PPP Participants Should Prepare For Vigorous Oversight

Ballard Spahr LLP on

With significant government intervention comes significant government oversight. That is the message coming from Capitol Hill and the Executive Branch concerning the Payroll Protection Program (PPP), a Small Business...more

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: Federal Investigators Prepare to Investigate and Prosecute Fraud in Emergency Loan Programs

Emergency COVID-19 relief legislation signed into law by President Trump, including the Coronavirus Aid, Recovery, and Economic Security Act (“CARES Act”), has allocated more than $2 trillion in economic aid to individuals,...more

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