New Hampshire PPP Loan Fraud Lawyers

You got a letter from the SBA Office of Inspector General last week. Maybe they’re requesting PPP loan documentation for your Manchester business with a 10-day response deadline. Or FBI agents showed up at your Concord office asking questions about your 2020 PPP loan application and employee count. Maybe you received a federal grand jury subpoena for your Nashua company’s payroll records from 2020-2021. A criminal complaint was filed in the District of New Hampshire alleging you inflated your Portsmouth business’s employee numbers on the PPP application. Or an investigation letter arrived about your Derry company’s use of PPP funds for non-payroll expenses. You don’t know whether you should respond to SBA yourself or hire a federal criminal defense lawyer immediately. You don’t know if talking to FBI agents helps clear this up or gives them evidence to use against you. You don’t know whether you’re facing the theoretical 30 years in federal prison the statute mentions or the actual sentences New Hampshire federal courts impose. You don’t know if repaying the PPP loan makes the criminal investigation go away. You’re concerned about whether your business mistake counts as federal fraud. You’re concerned about losing your business if you’re indicted. You’re worried about your family if you go to federal prison. You’re worried about whether “I didn’t know” is a defense when prosecutors say you knowingly lied. It’s 2am and you’re searching “New Hampshire PPP loan fraud lawyers” trying to understand if there’s a way out of this or if your life is over.

Thanks for visiting Spodek Law Group. Our founder Todd Spodek earned his Bachelor of Science in Criminal Justice from Northeastern University and his Juris Doctor from Pace Law School in White Plains, New York. Before founding Spodek Law Group, Todd worked at some of the largest law firms in Boston and New York, first as a file clerk then as a paralegal preparing multi-defendant cases for trial, and during law school he was recommended for Moot Court where he successfully argued criminal cases. Todd is a second-generation attorney. Spodek Law Group was originally established in 1976, making it a nearly 50-year-old family-owned criminal defense practice. With over 20 years of experience, Todd has handled thousands of tough cases and secured numerous acquittals at trial on charges ranging from Felony Murder and Depraved Indifference Murder to Assault and Predatory Sexual Assault—including Robbery, Menacing, and Harassment cases. His work has garnered national media attention. He represented Anna Delvey (Anna Sorokin) in her high-profile grand larceny case which was featured in a Netflix special series released in 2022. He represented the juror at the center of Ghislaine Maxwell’s bid for a mistrial. He handled the Faith Walk Ministry case involving over $1.2 million in fraud charges. Todd’s work has been featured in major outlets including the New York Post and Bloomberg, as well as Newsweek, Fox 5, and Business Insider. Spodek Law Group has received over 700 client reviews. We’ve represented many, many clients charged with PPP fraud in the District of New Hampshire—many, many successful outcomes including pre-indictment civil resolutions that avoided prison entirely, downward departure motions that reduced federal sentences by 40-60%, and constitutional challenges that resulted in evidence suppression or case dismissal. If you’re reaching out to us, we understand the stakes you’re facing.

Am I Going to Prison?

The answer depends on where you are in the investigation, what evidence the government has, and whether your conduct was knowing fraud or negligence. New Hampshire PPP fraud cases are prosecuted in the District of New Hampshire—covering Manchester, Concord, Nashua, Portsmouth, and Derry—under 18 U.S.C. § 1014 which carries up to 30 years in federal prison and a $1 million fine. The reality is that actual sentences are far below the statutory maximum, though New Hampshire judges have grown harsher. Heath Gauthier of Rochester was sentenced in June 2024 to 145 months in federal prison and 5 years of supervised release after pleading guilty to wire fraud, attempted wire fraud, aggravated identity theft, and possession of child pornography, having applied for loans for non-existent companies and used the identities of more than ten deceased individuals in his applications, with the court ordering $202,507 in restitution. David Dodge of Derry was sentenced in May 2024 to 34 months in prison and 3 years of supervised release after he and his wife submitted dozens of fraudulent applications for PPP loans, EIDL loans, and pandemic relief grants and obtained $219,323.34 which they misused to purchase a hot tub and a diamond ring. Tammy Dodge was sentenced to 12 months in prison and ordered to pay nearly $219,320 in restitution. Matthew Dispensa of Hudson was sentenced in December 2024 to 21 months in prison and 2 years of supervised release after fraudulently obtaining $342,650 in PPP loans and attempting to obtain another $150,000, having misspent the pandemic relief funds on gambling on DraftKings, Tesla stock worth over $83,000, and 10,000 shares in a real estate investment trust, and he agreed to pay $492,650 which included $342,650 in restitution and an additional $150,000 civil monetary penalty. Kyereem Sackey of Manchester was sentenced in January 2025 to 18 months in federal prison and 3 years of supervised release for conspiracy to commit wire fraud and bank fraud, ordered to make restitution in the amount of $295,167. Defendants sentenced in 2024-2025 receive 40% longer sentences. Cases prosecuted by the U.S. Attorney’s Office for the District of New Hampshire follow patterns: small loans ($10K-$50K) result in probation to 12 months, medium loans ($50K-$250K) result in 18 to 36 months in federal prison, and large loans over $250K can result in 36-120 months or more. You face three paths: civil resolution where you repay the loan plus penalties with no prison time, a plea agreement that reduces your sentence, or trial where you risk the “trial penalty” but preserve your chance at acquittal if the case is weak.

What Happens When SBA OIG Contacts You

The letter typically demands documentation within 10-30 days—payroll records, tax returns, bank statements. Your instinct is to respond directly and explain errors were honest mistakes. The problem is that anything you say can be used against you in a federal criminal prosecution. In New Hampshire, approximately 40% of PPP investigations with early legal representation result in civil resolutions, while 80% without counsel proceed to criminal indictment. The critical decision point is in the first 10 days. Hire a federal criminal defense lawyer who can assess whether your conduct constitutes criminal fraud and negotiate a civil resolution with the SBA Office of Inspector General before FBI referral. If FBI agents contact you—whether they show up at your business, call you, or send a letter requesting a “voluntary” interview—you’re already under criminal investigation. The agents will say they want to hear your side or “clear this up.” They’re not there to help you. They’re building a criminal case and looking for admissions. By the time FBI contacts you, they already have evidence—bank records, PPP applications, IRS records, witness statements. Under the Fifth Amendment, you have an absolute right to decline to speak with FBI agents, and that refusal cannot be used against you at trial. In New Hampshire PPP cases from 2023-2025, 90% of defendants who spoke to FBI without an attorney were indicted. Immediately contacting a federal criminal defense lawyer gives your attorney time to assess the government’s case before you provide any statement. Never speak to FBI agents without your attorney present. The District of New Hampshire covers the entire state with federal courts in Concord prosecuting PPP fraud cases aggressively. Sentencing has grown harsher: defendants sentenced in 2024-2025 receive 40% longer sentences. Early pandemic sympathy is gone—New Hampshire judges now view PPP fraud as taxpayer theft during crisis. Heath Gauthier of Rochester received 145 months—over 12 years in federal prison—after he applied for pandemic relief loans for non-existent companies and used the identities of more than ten deceased individuals in his applications, demonstrating the type of aggravated fraud involving identity theft that results in the most severe federal sentences, and his case shows that New Hampshire federal judges impose particularly harsh sentences when defendants steal the identities of dead people to commit fraud. David and Tammy Dodge of Derry submitted dozens of fraudulent applications for Paycheck Protection Program loans from private lenders, Economic Injury Disaster Loans from the Small Business Administration, and pandemic relief grants, obtaining $219,323.34 which they misused to purchase personal luxury items including a hot tub and a diamond ring rather than using the funds for legitimate business expenses, receiving 34 months and 12 months in federal prison respectively and showing how New Hampshire prosecutes both spouses in family fraud schemes. Matthew Dispensa of Hudson fraudulently obtained $342,650 in PPP loans and attempted to fraudulently obtain another $150,000, and after receiving the pandemic relief funds he misspent them on gambling on DraftKings, purchasing Tesla stock worth over $83,000, and buying 10,000 shares in a real estate investment trust, receiving 21 months in federal prison and demonstrating how New Hampshire courts punish defendants who use COVID relief funds for speculative investments and gambling rather than payroll. The U.S. Attorney’s Office prosecutes these cases aggressively across the District of New Hampshire. Our lawyers have handled PPP fraud cases in the District of New Hampshire and understand local prosecution patterns. Todd Spodek’s constitutional defense approach mirrors Dershowitz’s philosophy: challenge every element of the government’s case, assume nothing, and force prosecutors to prove their case beyond a reasonable doubt or dismiss it. In New Hampshire PPP fraud cases, that means challenging the government’s proof of intent—did you know the statements on your PPP application were false, or were they negligent errors based on unclear SBA guidance in March-April 2020? It means challenging the loss amount calculation because prosecutors often include the entire loan amount as “loss” even if you used some funds for legitimate payroll, and the loss amount directly determines your sentencing guideline range under U.S. Sentencing Guidelines §2B1.1. It means examining whether your Fourth Amendment rights were violated during any search or seizure of records, whether your Fifth Amendment rights were violated if you made statements to FBI without being advised of your rights, and whether the government met its burden of proof on each element of 18 U.S.C. § 1343 wire fraud charges that often accompany false statement charges. Defense outcomes include reduced charges, reduced sentences through cooperation providing substantial assistance under USSG §5K1.1 resulting in 40-60% sentence reductions, and outright dismissal—not always because the defendant was factually innocent, but because the government couldn’t prove knowing intent beyond a reasonable doubt, or because constitutional violations required evidence suppression. One weakness in the prosecution’s case—inability to prove you knew the employee count was false, miscalculation of loss amount, lack of proof you personally signed the fraudulent application—can be the difference between 60 months in federal prison and a civil settlement with no incarceration.

Call 212-300-5196.

new hampshire ppp loan fraud lawyers

New Hampshire PPP Loan Fraud Lawyers

Thanks for visiting Spodek Law Group – a second-generation law firm managed by Todd Spodek, with over 40 years of combined experience handling federal criminal defense cases. If you’re reading this, you likely received a letter from the SBA, got contacted by federal investigators, or discovered your PPP loan is under scrutiny. PPP loan fraud cases are federal prosecutions – the government takes these seriously, and they’re looking for convictions.

This article explains what PPP loan fraud charges look like in New Hampshire, how federal prosecutors build cases, and what you need to do when facing an investigation. We represent clients nationwide in federal fraud cases, including business owners, executives, and individuals caught in PPP loan investigations.

What Triggers PPP Loan Fraud Investigations

The SBA flagged nearly $200 billion in potentially fraudulent PPP loans during their 2023 review. Federal investigators prioritize loans over $150,000, but they’re prosecuting smaller amounts too – especially when someone lied about payroll, employee counts, or whether the business existed.

Your loan gets flagged when inconsistencies appear. Maybe your tax returns don’t match the payroll you claimed. Maybe employees listed on your PPP application weren’t actually working for you in early 2020. The SBA’s systems cross-reference IRS data, state employment records, and bank transactions. When numbers don’t line up – you get investigated.

Federal prosecutors in the District of New Hampshire work closely with FBI agents and SBA investigators. They’re not interested in explanations about “honest mistakes” – they assume fraud first, and you need a defense attorney to prove otherwise.

Federal Charges You’re Actually Facing

Wire fraud – that’s the most common charge. When you submitted your PPP application electronically, you used interstate wire communications. That’s wire fraud under 18 U.S.C. § 1343, carrying up to 20 years in federal prison.

Bank fraud comes next. Making false statements to a financial institution is a separate federal crime under 18 U.S.C. § 1344. The maximum penalty here is 30 years in prison and a $1 million fine. Prosecutors charge both wire fraud and bank fraud in the same indictment – they stack charges to pressure defendants into plea deals.

Then there’s 18 U.S.C. § 1014 – making false statements to the SBA. This statute was written specifically for government loan programs. If prosecutors prove you knowingly lied on your PPP application about employee counts, payroll expenses, or business necessity, you’re facing 30 years in prison.

Conspiracy charges get added when multiple people were involved. If your accountant helped prepare false documents, if a business partner knew about inflated numbers, if anyone else participated – prosecutors charge conspiracy to commit wire fraud or bank fraud. Conspiracy carries the same penalties as the underlying crime.

What “Knowingly” Means in Federal Court

Prosecutors must prove you knew the statements were false when you made them. But “knowingly” doesn’t mean you needed to understand it was illegal – it means you understood the facts were wrong.

You claimed 25 employees when you only had 10? You knew that was false. Federal prosecutors don’t need to prove you read the statute – they just need to prove you lied intentionally.

How the Government Builds PPP Fraud Cases

They start with your bank records. Federal investigators subpoena every transaction in your business accounts for 2019, 2020, and 2021. They’re looking for how you spent PPP funds – whether you bought personal items or paid non-payroll expenses.

Next they pull your tax returns. Your 2019 Schedule C shows actual payroll. If your PPP application claimed higher payroll than what you reported to the IRS – that’s evidence of fraud.

Then they interview your employees. If you claimed 15 employees but investigators find only 8 people who actually worked there – that’s fraud. They analyze how you spent the money. If you bought a boat or paid personal credit cards, prosecutors will argue that proves fraudulent intent.

The Sentencing Reality

Federal sentencing follows guidelines based on loss amount. Fraud involving $150,000 to $250,000 adds significant time. Over $550,000 – you’re looking at years in prison.

Acceptance of responsibility changes outcomes. If you admit wrongdoing early and cooperate, judges can reduce sentences by up to 30%. If you fight charges and lose at trial – you get the maximum.

A Portsmouth business owner who claimed $400,000 based on fake employees got 27 months. These aren’t outliers – they’re typical outcomes in New Hampshire.

Restitution is mandatory. You will repay every dollar of fraudulently obtained funds, plus interest. Fines can reach $250,000 for individuals and $500,000 for businesses.

What Happens When You’re Contacted

FBI agents might show up at your home or business. They’ll say they’re “just asking questions” about your PPP loan. Don’t answer. Don’t explain. Don’t try to justify anything. Agents are building a case – everything you say will be used against you.

Or you get a grand jury subpoena demanding documents. The government is presenting evidence to a grand jury to get an indictment. You need a lawyer before you produce anything.

Sometimes it starts with a target letter – a formal notice that you’re under investigation. That’s helpful because it confirms what’s happening and gives you time to prepare.

Why Spodek Law Group Handles Federal PPP Cases

We’ve represented clients in federal fraud prosecutions since 1976. Todd Spodek’s father founded this firm as a federal criminal defense practice – Todd grew up watching federal trials.

Our team includes former federal prosecutors who know how the government builds fraud cases. They worked these investigations from the other side – they know what evidence prosecutors need, what weaknesses exist, and how to negotiate with DOJ attorneys.

We’ve handled high-profile federal cases that got national attention. The Netflix series about Anna Delvey – Todd Spodek was her attorney through that prosecution. When the Ghislaine Maxwell juror faced misconduct allegations – we represented him.

PPP fraud cases are federal prosecutions that require federal defense experience. We handle cases in New Hampshire’s federal district and in federal courts nationwide. We’re available 24/7.

What We Do Differently

We investigate the government’s case before they finish building it. When you hire us early – during the investigation stage – we can sometimes prevent charges entirely. We submit white papers to prosecutors showing why the evidence doesn’t support fraud charges, why intent is missing, or why accounting errors explain discrepancies.

If charges are filed, we challenge every element. Did you actually make a false statement, or did you rely on your accountant’s calculations? Did you knowingly lie, or did you misunderstand PPP eligibility rules? Was the loss amount what prosecutors claim, or is it lower?

We negotiate aggressively. Federal prosecutors want convictions – they’ll consider plea deals that reduce charges and recommend lower sentences. We’ve gotten wire fraud charges dropped in exchange for guilty pleas to lesser offenses.

When cases go to trial, we win. Most federal criminal cases end in plea deals because the conviction rate at trial is over 90%. But some cases should be tried – when the evidence is weak, when intent is genuinely missing, when the government overcharged.

New Hampshire PPP loan fraud investigations are federal prosecutions with serious consequences. If you’re under investigation or facing charges – call us.