12 Sep 23

Hawaii PPP – SBA – EIDL Loan Fraud Lawyers

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Last Updated on: 13th September 2023, 08:06 pm

Hawaii PPP – SBA – EIDL Loan Fraud Lawyers, and why you need a lawyer for this

The COVID-19 pandemic led to an unprecedented level of government assistance for small businesses, including the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) program administered by the Small Business Administration (SBA). While these programs provided a lifeline for many businesses impacted by the pandemic, they also created opportunities for fraud and abuse. In Hawaii and across the country, some business owners and individuals have been charged with fraudulently obtaining PPP and EIDL loans. Having an experienced lawyer can be crucial if you find yourself under investigation or charged in relation to these pandemic relief programs.

Common Types of PPP and EIDL Fraud

Some of the most common fraudulent activities related to PPP and EIDL loans include:

  • Falsifying information on loan applications such as number of employees, payroll expenses, or revenue losses.
  • Using PPP funds for non-allowable purposes like personal expenses instead of payroll.
  • Applying for multiple PPP loans from different lenders, known as “loan stacking.”
  • Making false statements to have a PPP loan forgiven.
  • Using stolen identities to apply for fraudulent loans.

For example, in Hawaii a CEO was charged with bank fraud and money laundering for allegedly obtaining over $12 million in PPP and EIDL loans using falsified documents and shell companies. A Hilo man also pleaded guilty to defrauding the PPP and EIDL programs out of over $900,000.

Penalties for PPP and EIDL Fraud

The penalties for PPP or EIDL fraud can be severe. Even first-time offenses can potentially result in:

  • Up to 30 years in prison.
  • Fines up to $1 million.
  • Restitution payments.
  • Exclusion from government contracts.

Much depends on the specific circumstances and dollar amount involved. But all charges should be taken very seriously.

Why You Need an Experienced Lawyer

Having an experienced federal defense lawyer is essential if you are being investigated or charged with PPP or EIDL fraud. An attorney can help by:

  • Negotiating with prosecutors before any charges are filed.
  • Contesting inaccurate allegations.
  • Explaining the complex PPP and EIDL program rules.
  • Developing an effective defense strategy if charges are filed.
  • Avoiding lengthy prison sentences and massive fines.

An experienced federal fraud lawyer will thoroughly examine the details of your case, advise you of your rights, and fight to achieve the best possible outcome. This could make all the difference in avoiding severe penalties.

Finding the Right Lawyer

If you are being investigated or charged with PPP or EIDL fraud, it is critical to find an experienced federal defense lawyer as soon as possible. Look for an attorney with specific experience handling federal fraud cases. They will understand the complex rules and procedures involved and build the strongest defense. A knowledgeable lawyer can potentially get charges reduced or even dismissed. Don’t take chances with your future – find the right lawyer to protect your rights and freedom.

Here are some helpful resources on PPP fraud and finding a lawyer:

I hope this overview gives you a good understanding of the issues around PPP and EIDL fraud. Please don’t hesitate to reach out if you need help finding an attorney to protect your rights. Wishing you the very best in resolving this difficult situation.