Arizona PPP – SBA – EIDL Loan Fraud Lawyers

Fighting Back Against PPP and EIDL Fraud Charges in Arizona

When COVID-19 hit, the government scrambled to help small businesses survive massive shutdowns and disappearing customers. The Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) program threw struggling companies a lifeline. But now the Small Business Administration (SBA) is cracking down on alleged fraud. If you’re accused of PPP or EIDL fraud in Arizona, you need legal firepower on your side.

What Are the PPP and EIDL Programs?

The PPP gave out potentially forgivable loans to cover payroll, rent, etc. EIDL provided low-interest loans and grants. Just in Arizona, over 120,000 PPP loans worth $14.7 billion went out, along with 81,000 EIDL loans totaling $7.6 billion.
To get these loans, you had to certify details about your business. But oversight was light at first, leading to abuse claims. Prosecutors say some fudged employee numbers, expenses, and planned loan uses on their applications.
While the feds go after big alleged fraudsters, even small timers can face charges. If you’re questioned on COVID loan use, get a lawyer immediately.

PPP and EIDL Fraud Charges

Some common federal charges include:
Wire fraud – Using interstate wires criminally
Bank fraud – Lying to get bank money
False statements – Fibbing on applications
ID theft – Using someone’s ID without consent
Money laundering – Hiding illicit funds
Punishments vary but can mean decades behind bars. Wire and bank fraud carry 30 year maximums. ID theft has a 2 year mandatory minimum.
The feds also seize any questionable loan money. In one Arizona PPP fraud case, they’re trying to take back over $15 million from a couple accused of buying luxury items.

Battling Back Against Allegations

Despite the feds’ zeal, strong defenses could weaken or beat charges, like:
No criminal intent – Just mistakes, not fraud
Loan forgiveness – Nullifies improper use claims
Cooperating with investigators – Could lead to immunity
Duress – Avoiding bankruptcy could negate intent
Entrapment – You were improperly induced
Your lawyer can also scrutinize the investigation for violations that could get evidence tossed. A fierce defense is key against the feds’ firepower.

Why An Experienced Attorney Matters

Being accused of PPP or EIDL fraud is scary and complicated. The government paints defendants as swindlers who looted aid funds.
But many are small business owners who got modest loans and now face disaster through little fault of their own. Even application mistakes don’t necessarily prove intent to defraud.
With an experienced lawyer’s help, you can level the playing field against the feds and protect your rights. If you’ve been contacted or charged, don’t delay. An attorney can evaluate the case against you and craft an aggressive defense. Skilled legal representation greatly improves your odds of avoiding harsh penalties.

References

Arizona PPP and EIDL Loan Fraud Lawyers
Scottsdale Couple Indicted for Fraudulently Obtaining Over $15 Million in COVID Relief Funds
PPP Fraud Charges Mount As Government Doubles Down to Root Out Wrongdoers
PPP Fraud Investigations: What To Do If The SBA Comes Knocking