Detroit PPP – SBA – EIDL Loan Fraud Lawyers

Detroit PPP and EIDL Fraud: What Business Owners Need to Know

The COVID-19 pandemic hit businesses hard. To help, the government offered relief programs like the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) program. But some folks took advantage and committed fraud.

Now prosecutors in Detroit are cracking down on PPP and EIDL fraud. People are facing charges like wire fraud and bank fraud. If convicted, they can go to prison for years and pay massive fines. Yikes!

Big PPP and EIDL Fraud Cases in Detroit

Here are some of the biggest PPP and EIDL fraud cases in Detroit lately:

• A Commerce Township man pleaded guilty to stealing $851,000 in PPP and EIDL loans. He’s looking at up to 30 years behind bars. [1]
• Six people from Detroit were charged with stealing $2.5 million in PPP money. They blew it all on fancy cars and stuff. [2]
• The owner of an IT company in Southfield allegedly got $724,000 in fake PPP and EIDL loans. He bought a Cadillac Escalade and Dodge Charger. [3]
• Two brothers from Detroit stole $1.6 million in PPP loans using a shell company and phony payrolls. [4]

Prosecutors are throwing the book at people exploiting these emergency loan programs. And rightfully so!

The Laws Folks Are Breaking

When charging pandemic fraud, prosecutors often use laws like:

• Wire fraud – Using interstate wires to rip someone off. Up to 20 years behind bars. [5]
• Bank fraud – Tricking a bank. 30 years maximum.
• Money laundering – Shuffling around dirty money. Can get you 20 years.
• Identity theft – Using someone else’s info without permission. Adds a guaranteed 2 years in prison.

There are other charges too, like false statements and conspiracy. Penalties add up fast. These aren’t slap-on-the-wrist crimes.

Possible Defenses

Accused fraudsters do have some defense options, like:

• No criminal intent – Maybe it was an honest mistake?
• Coercion – If you were forced into it.
• Statute of limitations – Charges filed too late.
• Entrapment – If the government crossed a line.

A good lawyer will dig into the facts and see if any defenses could get charges lowered or dismissed.

Choosing the Right Detroit Lawyer

Picking the right lawyer is super important. Here’s how:

• Find someone experienced in federal fraud cases. They’re totally different from state crimes.
• Choose a lawyer familiar with PPP and EIDL rules.
• Pick someone who regularly handles federal cases in Detroit.
• Look for great case results.
• Make sure you’re comfortable with them!

If You’re Under Investigation

If investigators contact you about possible PPP or EIDL fraud, do this:

• Don’t talk to them until you have a lawyer.
• Gather up all relevant records.
• Call an experienced federal defense attorney right away.
• Follow your lawyer’s advice on responding to subpoenas or warrants.
• Have your lawyer engage with investigators for you.

With prompt legal help, some cases can be resolved before charges are even filed. So don’t delay!

The Bottom Line

PPP and EIDL fraud can ruin companies and lives. But the right lawyer can analyze the facts and build the strongest case. Don’t go it alone if accused of pandemic loan fraud in Detroit.

Detroit PPP Loan Fraud Lawyers – What You Need to Know

The Paycheck Protection Program (PPP) offered a lifeline to small businesses during COVID-19. But some folks saw it as an opportunity for fraud. Now federal prosecutors in Detroit are cracking down hard on PPP loan scams.

Defendants are getting charged with serious crimes like wire fraud and bank fraud. If convicted, they face years in prison and massive fines. They also have to pay back all the stolen PPP funds. It’s a huge mess.

So if you’re accused of PPP loan fraud in Detroit, you need an experienced lawyer on your side ASAP. Let’s break down what you need to know.

Major PPP Fraud Cases in Detroit

There have been some crazy PPP fraud cases in Detroit, like:

• A Commerce Township man who pleaded guilty to stealing $851,000 in PPP loans. He’s looking at up to 30 years behind bars. [1]
• Six people charged with conspiring to steal $2.5 million in PPP money. They blew it on fancy cars and vacations. [2]
• The owner of a Southfield IT company who allegedly got $724,000 in fraudulent PPP loans. He bought a Cadillac Escalade and Dodge Charger. [3]
• Two Detroit brothers accused of stealing $1.6 million through fake payrolls and shell companies. [4]

Prosecutors throw the book at defendants in these pandemic fraud cases. The penalties are no joke.

Federal Laws Broken

Common charges in PPP fraud cases include:

• Wire fraud – Using interstate wires to execute a fraud scheme. Up to 20 years in prison. [5]
• Bank fraud – Knowingly defrauding a financial institution. Punishable by up to 30 years behind bars. [6]
• Money laundering – Engaging in shady financial transactions with dirty money.
• Identity theft – Using someone else’s personal information without permission.

Penalties stack up fast with multiple charges. You need an attorney to fight back.

Building a Strong Defense

There are viable defense strategies, like:

• Arguing you lacked criminal intent if it was an honest mistake.
• Claiming coercion if you participated under duress.
• Using the statute of limitations if too much time has passed.
• Asserting entrapment if the government crossed a line.

An experienced lawyer can analyze the facts and determine the best defense approach.

Choosing the Right Detroit PPP Fraud Lawyer

Picking the right attorney is critical. Look for:

• Extensive experience in federal white collar criminal defense.
• Deep knowledge of the CARES Act and PPP rules.
• A strong track record litigating in Detroit’s federal courts.
• Great past case results.
• Someone you feel comfortable working with.

Firms like The Mike Morse Law Firm, Jaffe Raitt Heuer & Weiss, P.C., and The Federal Law Group PLLC are known for skilled PPP fraud defense in Detroit.

If You’re Under Investigation

If contacted by investigators regarding PPP fraud, smart steps include:

• Don’t talk to them until you have legal counsel.
• Gather and preserve all relevant records.
• Hire an experienced federal defense lawyer right away.
• Follow your attorney’s advice on responding to subpoenas and warrants.
• Have your lawyer engage with investigators for you.

With prompt legal help, some cases can potentially get resolved before charges are filed. So act fast.

The Bottom Line

PPP loan fraud allegations can destroy companies and lives. But the right Detroit lawyer can thoroughly analyze the facts and build the strongest possible defenses. Don’t go it alone if accused of PPP fraud.