News & Analysis as of

Fraud Corporate Counsel Paycheck Protection Program (PPP)

Fraud is the making of false representations or engaging in deceptive behavior in order to unlawfully secure financial or personal gain. 
Fox Rothschild LLP

IRS Increases Pressure on Businesses That Claimed Employee Retention Tax Credits

Fox Rothschild LLP on

The Internal Revenue Service (IRS) recently issued a news release identifying five new signs that a business’s Employee Retention Tax Credit (ERC) may be incorrect. It has also begun issuing a third round of letters denying...more

Dorsey & Whitney LLP

More DOJ Double-Dipping PPP Fraud News

Dorsey & Whitney LLP on

The Department of Justice (“DOJ”) continues rolling out new settlement agreements related to COVID-19 fraud - highlighting the government’s and a common relator’s efforts to crack down on those alleged to have improperly...more

Morrison & Foerster LLP

PPP Loans: Overview of Prior Guidance

The Paycheck Protection Program (“PPP”) began with rushed legislation and a race for financial support in the middle of a pandemic. This race was hardly a straight line as the Small Business Administration (“SBA”) and the...more

Snell & Wilmer

SBA Adopts New Process for Absolving Fraudulent Loans in Attempt to Provide Certainty to Affected Businesses

Snell & Wilmer on

The Paycheck Protection Program (“PPP”) was created on March 27, 2020 as part of the first COVID-19 relief package. Over the past year, Congress appropriated almost $700 billion to the PPP in an effort to provide forgivable...more

BakerHostetler

Important Lessons from the DOJ's First Civil Action for CARES Act Loan Fraud

BakerHostetler on

On January 12, 2021, the Department of Justice (the “DOJ”) settled its first civil action for alleged fraud against the Paycheck Protection Program (the “PPP”) – the primary lending program under the Coronavirus Aid, Relief,...more

PilieroMazza PLLC

DOJ Announces Nation’s First Settlement of Civil Case for PPP Loan Fraud

PilieroMazza PLLC on

On January 12, 2021, the U.S. Department of Justice (DOJ) entered into a settlement with California-based SlideBelts, Inc. (SlideBelts) and its president and chief executive officer in what is advertised as the country’s...more

Akin Gump Strauss Hauer & Feld LLP

DOJ’s Civil Division Outlines Enforcement Priorities and Focus on COVID-19 Related Fraud

- The Department of Justice (DOJ) will focus its civil enforcement activity on fraud and other illegal actions relating to COVID-19, including with respect to CARES Act stimulus programs and consumer products marketed for use...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

Foley Hoag LLP - White Collar Law &...

DOJ Brings First Payroll Protection Program-Related Criminal Case

On Tuesday, May 5, the Department of Justice (DOJ) filed charges in the federal District Court of Rhode Island against David A. Staveley and David Butziger for conspiracy to make a false statement and conspiracy to commit...more

Goodwin

Applying for U.S. Paycheck Protection Program Loans: Lessons Learned from Experience with TARP and Other Crisis Aid

Goodwin on

As former federal prosecutors, the authors have investigated and prosecuted individuals who committed various crimes relating to TARP funding and other crisis aid. With the passage of the U.S. CARES Act and more than $349...more

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