News & Analysis as of

Fraud CARES Act Economic Injury Disaster Loans

Fraud is the making of false representations or engaging in deceptive behavior in order to unlawfully secure financial or personal gain. 
Epstein Becker & Green

The Department of Justice’s COVID-19 Enforcement Task Force 2024 Report: A Continued Commitment to Combatting COVID-19-Related...

Since the pandemic, COVID-19-related fraud has been a consistent target of the Department of Justice....more

ArentFox Schiff

Investigations Newsletter: Cooperation Spares Former NBA Shooting Guard From Prison

ArentFox Schiff on

Cooperation Spares Former NBA Shooting Guard From Prison - Former National Basketball Association (NBA) shooting guard, Antoine Wright, was sentenced to time served after he pled guilty to conspiracy and aggravated...more

Harris Beach PLLC

Fraud Investigations into COVID-Era PPP and EIDL Loans Increasing

Harris Beach PLLC on

The Department of Justice continues to have its task forces throughout the U.S. investigate and prosecute fraudulent use of funds from the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) programs...more

ArentFox Schiff

Guilty Plea in $250 Million Federal Child Nutrition Fund Fraud Scheme

ArentFox Schiff on

Guilty Plea in $250 Million Federal Child Nutrition Fund Fraud Scheme - A man from Brooklyn Park, Minneapolis, Minnesota, pled guilty for his involvement in a $250 million fraud scheme that exploited a federally-funded...more

Fox Rothschild LLP

House Subcommittee Singles Out Fintech Companies, Government Officials and PPP Lenders for Roles in COVID-19 Related Fraud

Fox Rothschild LLP on

The House Select Subcommittee on the Coronavirus Crisis, chaired by Rep. James E. Clyburn, released the final report on its investigation into the use and distribution of $5 trillion in federal pandemic-related aid,...more

Fox Rothschild LLP

The Federal Government’s Continued Focus on COVID-19 Aid Fraud Leads to New Charges, Convictions and Sentencings

Fox Rothschild LLP on

The Justice Department recently announced new charges, convictions and sentencings in its ongoing initiative to target pandemic-related fraud, emphasizing the government’s commitment to identify and hold accountable those who...more

ArentFox Schiff

Investigations Newsletter: COVID-19 Fraud Update: DOJ Prosecutes More than 150 Defendants, 95 Criminal Cases

ArentFox Schiff on

COVID-19 Fraud Update: DOJ Prosecutes More than 150 Defendants, 95 Criminal Cases - Since the inception of the CARES Act, DOJ’s Fraud Section has prosecuted over 150 defendants in over 95 criminal cases. The Fraud Section...more

Polsinelli

President Biden Extends Statute of Limitations for PPP and EIDL Fraud to Ten Years

Polsinelli on

In August, President Biden signed two bills into law that give the Department of Justice and other federal agencies more time to investigate and prosecute Paycheck Protection Program (“PPP”) and COVID-19 Economic Injury...more

Morrison & Foerster LLP

Biden Administration Extends Statute of Limitations for PPP and EIDL Fraud to Ten Years

Two weeks ago, President Biden signed two laws extending the statute of limitations for civil and criminal fraud actions involving the Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) to ten years....more

Fox Rothschild LLP

New Interagency COVID-19 Fraud Strike Force Intensifies Investigations of Pandemic Relief Loans

Fox Rothschild LLP on

Vanessa R. Waldref, the U.S. Attorney for the Eastern District of Washington, recently announced the creation of a new interagency COVID-19 Fraud Strike Force to combat alleged fraud arising from the pandemic. One of its...more

McGuireWoods LLP

DOJ Ramps up Resources and Renews Focus on Combatting COVID-19 Related Fraud in 2022

McGuireWoods LLP on

On March 10, 2022, the U.S. Department of Justice (DOJ) announced the appointment of Associate Deputy Attorney General Kevin Chambers to serve as the Director for DOJ’s COVID-19 Fraud Enforcement Task Force. In remarks...more

Morrison & Foerster LLP

Enforcement Against COVID-19 Related Fraud: Two-Year Anniversary Update

On the eve of the pandemic’s two-year anniversary, the U.S. Department of Justice (DOJ) released updated statistics on its efforts to combat COVID-19 related fraud and announced the appointment of a director of COVID-19 Fraud...more

Fox Rothschild LLP

Bank Fraud Involving PPP Loans Could Lead to Prison Time, Even for Relatively Small Advances

Fox Rothschild LLP on

The U.S. Department of Justice has recently begun charging defendants with bank fraud in relation to Paycheck Protection Program loans as part of its continuing efforts to investigate and prosecute individuals for crimes...more

Fox Rothschild LLP

Federal Judges Imposing Increasingly Harsh Prison Sentences for Paycheck Protection Program Fraud

Fox Rothschild LLP on

The U.S. Department of Justice continues to seek long prison sentences for those convicted of COVID-19 related fraud. Recently, courts have agreed with prosecutors, and have issued increasingly lengthy prison terms to those...more

Kaufman & Canoles

Litigation Client Alert: PPP, EIDL, and UI Loan Fraud – What to Know About Financial Crimes under the CARES Act

Kaufman & Canoles on

Federal prosecutions continue to increase across the country against businesses and individuals accused of fraudulent conduct under the Coronavirus Aid, Relief and Economic Security (CARES) Act. In March, the Department of...more

Fox Rothschild LLP

Paycheck Protection Program-Related Convictions Result In Harsh Federal Prison Sentences

Fox Rothschild LLP on

The U.S. Department of Justice took several victory laps this month, touting long prison sentences it has secured for COVID-19 related fraud. These prison terms send a clear message to any individual or business that...more

King & Spalding

Oversight Subcommittee on the Coronavirus Crisis Continues to Actively Investigate the Previous Administration’s Pandemic Response

King & Spalding on

When announcing the Democratic members of the Select Subcommittee on the Coronavirus Crisis for the 117th Congress, Chairman Jim Clyburn (D-SC) stated that, “In order to improve our nation’s response, the Select Subcommittee...more

ArentFox Schiff

Investigations Newsletter: The Department of Justice Continues to Aggressively Pursue COVID-19 Related Fraud

ArentFox Schiff on

In addition to the ever-growing number of fraud charges brought in connection with the SBA’s PPP program, recent indictments issued across the country in connection with Covid-19 unemployment benefits and economic injury...more

Fox Rothschild LLP

COVID-19 Fraud Task Force Established

Fox Rothschild LLP on

Intensifying its crackdown on suspected fraud in pandemic relief programs, the U.S. Department of Justice has established the COVID-19 Fraud Enforcement Task Force, sending a clear message that any individual or business that...more

Pietragallo Gordon Alfano Bosick & Raspanti,...

Task Force Created To Increase Covid-19 Related Prosecutions

Takeaway: The government has increased its prosecutions of fraud related to COVID-19 funds and programs. Given the rapid development of these programs and enforcement, it is more critical than ever to ensure that the...more

Baker Donelson

PPP Oversight: Congress Turns Its Focus to the Agency Diligence

Baker Donelson on

On March 25, 2021, Chairwoman of the House Committee on Oversight and Reform Carolyn Maloney and the Select Subcommittee on the Coronavirus Crisis released a staff memo highlighting "new evidence" of the Trump...more

Skadden, Arps, Slate, Meagher & Flom LLP

One Year of COVID-19: The Government’s Efforts To Address CARES Act Fraud

Over the course of a year beginning in March 2020, starting with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the U.S. government has approved trillions of dollars in relief funds in efforts to keep the...more

Holland & Knight LLP

Lenders and Borrowers Beware: EIDL Fraud Alert

Holland & Knight LLP on

Holland & Knight has learned through customary deal due diligence that some borrowers – especially those who received a Paycheck Protection Program (PPP) loan through the U.S. Small Business Administration (SBA) – may have...more

Fox Rothschild LLP

Justice Department Continues Historic Level Of Enforcement Against COVID-19 Fraud

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The Justice Department continues to intensify its crackdown on COVID-19 relief program fraud, a clear indication that any individual or business that has benefited from the government aid should expect enhanced scrutiny from...more

Epstein Becker & Green

U.S. Department of Justice Reports on Heightened Enforcement Activities Against COVID-19 Related Fraud

Epstein Becker & Green on

On March 26, 2021, the U.S. Department of Justice (“DOJ”) reported on the agency’s heightened criminal and civil enforcement activities in connection with COVID-19-related fraud.[1] As of that date, DOJ had publicly charged...more

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