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Small Business Administration › Fraud › Paycheck Protection Program (PPP)

The Small Business Administration is a United States federal agency established in 1953 by the Small Business Act. The SBA is dedicated to assisting and supporting small business and entreprenuers. The SBA... more +
The Small Business Administration is a United States federal agency established in 1953 by the Small Business Act. The SBA is dedicated to assisting and supporting small business and entreprenuers. The SBA carries out its mission through a variety of programs including providing financial and federal contract procurement assistance, management assistance, and specialized outreach to women, minorities and armed forces veterans. less -
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

Mintz - Health Care Viewpoints

Acting U.S. Attorney Levy Forecasts False Claims Act COVID Cases Targeting Private Lenders Of CARES Act Loans That Failed In Their...

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Acting U.S. Attorney Joshua Levy discussed the enforcement priorities for the Massachusetts U.S. Attorney’s Office (USAO) during a Q&A session on May 29, 2024, and made clear that the historical focus of the office remains...more

Husch Blackwell LLP

BOLO: Cannabis Qui Tam Actions

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Due to federal illegality, the cannabis industry has long been plagued by federal agencies taking a variety of different enforcement approaches to cannabis businesses. From the U.S. Patent and Trademark Office to the National...more

Husch Blackwell LLP

PPP Loan Audits Could Affect Millions of Borrowers

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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

ArentFox Schiff

Investigations Newsletter: Cooperation Spares Former NBA Shooting Guard From Prison

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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

Dinsmore & Shohl LLP

PPP Loan Investigations and Prosecutions are on the Rise

Dinsmore & Shohl LLP on

In recent months, a number of agencies, including the Federal Bureau of Investigation (“FBI”), have been working diligently to identify businesses and individuals who committed alleged fraud through the Paycheck Protection...more

Bradley Arant Boult Cummings LLP

PPP and Pandemic Fraud Recoveries Significant for DOJ in FY 2023

Bradley Arant Boult Cummings LLP on

The Department of Justice (DOJ) recently announced that it obtained more than $2.68 billion in False Claims Act (FCA) settlements and judgments in the fiscal year ending September 23, 2023. DOJ reports that “matters that...more

Buchalter

PPP Lender Liability, Enforcement, & Fintech Challenges

Buchalter on

The Paycheck Protection Program (“PPP”) emerged as a lifeline for small businesses grappling with the unprecedented challenges of the COVID-19 pandemic. Lenders navigated a landscape of regulations that Congress quickly...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

Lippes Mathias LLP

The Rise and Fall of the Paycheck Protection Program

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The Long-Term Effects Felt by Lenders Nationwide. As a result of the United States government instituting the Paycheck Protection Program (“PPP”), companies nationwide have defaulted on hundreds of thousands of PPP loans,...more

Kaufman & Canoles

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

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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

K&L Gates LLP

Up Next: Lenders May Be the Next Government Focus for PPP Fraud

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INTRODUCTION - On 24 January 2023, the Board of Governors of the Federal Reserve System (the FRB) announced it entered into a consent order (Consent Order) with a member bank imposing an approximately US$2.3 million civil...more

Pietragallo Gordon Alfano Bosick & Raspanti,...

PPP Loan Fraud At The Beach

Pietragallo Gordon Alfano Bosick & Raspanti,... on

It’s not always sunny for everyone on the Florida beaches. On January 30, 2023, the United States Attorney’s Office for the Middle District of Florida announced that Al Clint LaRoche of West Palm Beach pleaded guilty to two...more

ArentFox Schiff

Investigations Newsletter: Medical Device Company to Pay Over $700,000 To Resolve Criminal Allegations

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Medical Device Company to Pay Over $700,000 To Resolve Criminal Allegations - On January 4, 2023, a criminal information was filed in the Southern District of Illinois, in which Jet Medical Inc. (Jet), a medical device...more

Clark Hill PLC

US Department of Justice Expanding Prosecution of Individuals and Companies for Payroll Protection Program Fraud

Clark Hill PLC on

In May 2022, the US Department of Justice (US DOJ) filed its first civil complaint for Payroll Protection Program (PPP) fraud under the federal False Claims Act (FCA) in a Florida federal court. The government alleged that...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

Troutman Pepper

Could PPP Lenders Be Liable for Borrower Misrepresentations?

Troutman Pepper on

On December 8, the U.S. Small Business Administration (SBA) issued a statement regarding its intent to investigate certain participants in the Paycheck Protection Program (PPP) created by the Coronavirus Aid, Relief, and...more

Mintz - Health Care Viewpoints

Serial Relator Brings Multiple Lawsuits Alleging False Claims Act Violations Premised on Paycheck Protection Program Fraud

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A district court in the Southern District of New York recently unsealed a qui tam case brought by relator GNGH2, Inc., a for-profit company, against 15 entities that allegedly operated nursing homes in the Bronx, New York and...more

Epstein Becker & Green

DOJ Settles False Claims Allegations with the Paycheck Protection Program (“PPP”) Loan Lender for the First Time

Epstein Becker & Green on

Given the volume of funds that were quickly dispersed during the COVID-19 pandemic, there were plenty of new areas for fraud and abuse. The Department of Justice (“DOJ”) initially set its sights on targeting the borrowers of...more

McGuireWoods LLP

Federal Reserve Exercises Broad Disciplinary Authority to Sanction Former Bank Employees Who Committed PPP Loan Fraud

McGuireWoods LLP on

On October 13, 2022, the Board of Governors of the Federal Reserve System (“Board”) announced multiple enforcement actions against former employees of several financial institutions because the former employees made false...more

Fox Rothschild LLP

Justice Department Announces First False Claims Act Settlement With PPP Lender and Unveils New COVID-19 Fraud Strike Force Teams

Fox Rothschild LLP on

The Justice Department has announced the first-ever False Claims Act settlement with a lender to resolve allegations related to processing a Paycheck Protection Program loan on behalf of an ineligible customer. This...more

Mintz - Health Care Viewpoints

The Government's Long Game for Investigating COVID-era Relief Fraud

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n a recent article in the New York Times, David Fahrenthold outlined the big issue facing prosecutors investigating COVID-era fraud: the sheer magnitude of it. The title of the article, “Prosecutors Struggle to Catch Up to a...more

Morrison & Foerster LLP

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

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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

ArentFox Schiff

Investigations Newsletter: Jury Orders Eli Lilly To Pay $61 Million

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Jury Orders Eli Lilly To Pay $61 Million - A federal jury in Illinois found that, beginning around 2004, drug manufacturer Eli Lilly deliberately underpaid rebates to Medicare programs by excluding retroactive drug prices...more

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