News & Analysis as of

Paycheck Protection Program (PPP) Relief Measures Fraud

J.S. Held

Current Enforcement Efforts in the Battle Against COVID-19 Loan Program Fraud

J.S. Held on

The COVID-19 pandemic caused unprecedented impacts around the world including stay-at-home orders, curfews, quarantines, and economic uncertainty. Businesses across the United States were forced to close their doors, limit...more

Bass, Berry & Sims PLC

COVID-19 Relief Enforcement Actions Highlight Ongoing Risk

Bass, Berry & Sims PLC on

The Department of Justice (DOJ) continues to demonstrate its sustained interest in COVID-19 relief fraud as an enforcement priority and we can expect to see persistent enforcement in this area....more

Foley Hoag LLP - White Collar Law &...

DOJ and Private Whistleblowers Pursue Marijuana-Related Businesses for Alleged Violations of COVID Relief Loan Policies

In 2020, when former President Trump signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act into law, the federal Small Business Administration (SBA) referred to previous guidance to indicate that businesses...more

McDermott Will & Emery

SBA PPP Loan Concerns Linger for Small Businesses

McDermott Will & Emery on

Many small businesses continue to face uncertainty over whether the Small Business Administration (SBA) will grant forgiveness of their Paycheck Protection Program (PPP) loans. Despite the vast majority of small businesses...more

Buchalter

PPP Fraud Enforcement Shows No Signs of Slowing

Buchalter on

After dozens of high-profile criminal prosecutions and a growing wave of civil investigations, the Department of Justice’s (“DOJ”) Covid-19 Fraud Enforcement Strike Force is poised to continue its pursuit of fraud, abuse, and...more

Kaufman & Canoles

Department of Justice Announces Increased Nationwide Coordinated Law Enforcement Effort to Combat PPP Fraud

Kaufman & Canoles on

The U.S. Justice Department recently announced an increased nationwide coordinated law enforcement effort aimed at combatting COVID-related fraud. The initiative seeks to identify and prosecute individuals and companies who...more

Cozen O'Connor

In extremis — PPP Money Is Not “Free” So Applicants & Recipients Need to Beware

Cozen O'Connor on

As most of the population is aware, to try and preserve the economy and businesses viable during the COVID-19 pandemic, congress passed the CARES Act. That bill included the Payroll Protection Program (PPP), in which small...more

Patterson Belknap Webb & Tyler LLP

Considering the Conduct of Two PPP “Fraudsters,” Bankruptcy Court Shows Its Teeth but Declines to Bite (For Now)

“Messrs. Woods and Wu are fraudsters,” Judge Christopher S. Sontchi declared in the opening salvo of his scathing opinion. According to the former Chief Judge of the U.S. Bankruptcy Court for the District of Delaware, Woods...more

ArentFox Schiff

Investigations Newsletter: Four Convicted of Scheme to Fraudulently Obtain Millions in COVID-19 Relief Programs

ArentFox Schiff on

After an eight-day trial, a federal jury convicted four California residents for their scheme to submit fraudulent loan applications seeking millions of dollars in the Paycheck Protection Program (PPP) and Economic Injury...more

Foley & Lardner LLP

Employee charged with COVID relief fraud? Questions for GCs

Foley & Lardner LLP on

The United States Department of Justice (DOJ) already has publicly charged almost 500 defendants with criminal offenses based on fraud schemes connected to the COVID-19 pandemic. Unfortunately, these prosecutions can have...more

Vinson & Elkins LLP

[Webinar] Navigating Civil Liability Under the Paycheck Protection Program - May 20th, 12:00 pm - 1:00 pm CT

Vinson & Elkins LLP on

Please join Jessica Heim, Zach Terwilliger, and Adrianne Goins, as they discuss criminal and civil liability risks for CARES Act fraud and key issues to watch in 2021 and beyond. Discussion topics will include: - A review...more

McDermott Will & Emery

The Next Wave of COVID-Related Criminal And Civil Enforcement Actions Is Starting

McDermott Will & Emery on

Given the rapid pace and volume of economic aid allocated by Congress to combat the COVID-19 pandemic and its economic impacts, it is no surprise that the federal government has focused heavily on identifying and prosecuting...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

WilmerHale

Weekly COVID-19 Oversight & Enforcement Report - January 2021 #3

WilmerHale on

Speaker Nancy Pelosi (D-CA) said the House is planning to bring a coronavirus relief bill to a vote the first week of February. On the Senate side, Majority Leader Chuck Schumer (D-NY) said he aims to secure passage of the...more

ArentFox Schiff

Investigations Newsletter: DOJ’s 2020 False Claims Act Recoveries Lowest Since 2008

ArentFox Schiff on

DOJ’s 2020 False Claims Act Recoveries Lowest Since 2008 - On January 14, 2021, the Department of Justice (DOJ) announced that it obtained more than $2.2 billion in settlements and judgments from civil cases involving...more

Pillsbury Winthrop Shaw Pittman LLP

Bipartisan Breakthrough: Congress Passes and President Trump Signs $900 Billion Stimulus

After months of deadlock, a $900 billion stimulus package promises direct payments, unemployment benefits and small business aid. On December 27, President Trump signed into law a $900 billion COVID relief package and a...more

Fox Rothschild LLP

PPP Data Dump Places Loan Forgiveness Applications Under A Microscope

Fox Rothschild LLP on

This month’s court-ordered release of Paycheck Protection Program (PPP) loan data is expected to result in intense scrutiny of the loan forgiveness process, highlighting the need for recipients to proceed with caution when...more

Harris Beach PLLC

PPP Loan Forgiveness Applications and Increase in Federal Investigations Pose Risks for Small Businesses

Harris Beach PLLC on

A significant part of the March 2020 CARES Act, the federal government’s Paycheck Protection Program (PPP) provided a lifeline for hundreds of thousands of small businesses across the nation, helping struggling owners pay...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

ArentFox Schiff

The Risks Are Real: What We Know and Can Predict About CARES Act Financial Fraud Enforcement

ArentFox Schiff on

While gearing up to get trillions of dollars into the economy, the government was also setting in place the mechanism to investigate and prosecute fraud related to these programs. The CARES Act was signed into law on March...more

Morrison & Foerster LLP - Government...

Is My Company’s PPP Loan “Necessary To Support Ongoing Operations?” What If I’m Wrong?

This post has been updated on May 6, 2020 with new safe harbor deadline for repayment of PPP loans. Given the proliferation of adverse news articles and TV pundit segments about well-funded companies that have received...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

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