How to Fight Charges of PPP Loan Forgiveness Fraud
Look, if your reading this, the FBI probably just raided your business. Or maybe the SBA Criminal Investigation Division is breathing down your neck about those PPP loan documents. The Paycheck Protection Program (PPP) was established by the federal government in response to the COVID-19 pandemic to provide financial assistance to small businesses. PPP loans were intended to help businesses keep their employees on payroll during the pandemic. But here’s where it gets terrifying — PPP loan forgiveness fraud occurs when a business or individual intentionally provides false information to obtain PPP loan forgiveness. And the feds are prosecuting these cases AGGRESSIVELY.
Maybe you inflated your payroll numbers. Maybe you claimed employees who didn’t exist. Maybe you used the money for that Lamborghini instead of payroll. The Department of Justice has charged over 3,000 defendants with PPP fraud totaling billions. They’re handing out 10-20 year sentences like candy. This isn’t some minor white-collar slap on the wrist situation. This is federal prison time that destroys your life.
How to Fight Charges of PPP Loan Forgiveness Fraud
If you have been accused of PPP loan forgiveness fraud, it is important to take immediate action to protect your rights. The federal government is using sophisticated data analytics. They’re cross-referencing your PPP applications with IRS records, state unemployment databases, and payroll companies. Here are some steps you can take to fight these charges:
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(212) 300-51961. Hire an Experienced Attorney
The first step in fighting charges of PPP loan forgiveness fraud is to hire an experienced attorney who specializes in white-collar criminal defense. Not just any lawyer. You need someone who understands 18 USC 1343 wire fraud, 18 USC 1001 false statements, and 18 USC 371 conspiracy. Your attorney will be able to review the evidence against you and develop a defense strategy that is tailored to your specific case. Most lawyers don’t understand the CARES Act provisions. Or the SBA forgiveness criteria. You need someone who gets it.
Todd Spodek
Lead Attorney & Founder
Featured on Netflix's "Inventing Anna," Todd Spodek brings decades of high-stakes criminal defense experience. His aggressive approach has secured dismissals and acquittals in cases others deemed unwinnable.
You submitted a PPP loan application during COVID and now realize some employee count numbers may have been inaccurate.
Could this be considered fraud?
Inaccuracies in PPP applications can trigger federal fraud charges carrying up to 20 years in prison. However, honest mistakes differ from intentional misrepresentation. Documentation of your good-faith efforts is critical to your defense.
This is general information only. Contact us for advice specific to your situation.
2. Cooperate with the Investigation
It is important to cooperate with the investigation and provide your attorney with all the information they need to build a strong defense. This includes providing any documents or records that may be relevant to your case. But here’s the thing — NEVER talk to federal agents without your attorney present. They’re building a case against you. Every word you say gets twisted. That innocent explanation about your business? Now it’s consciousness of guilt.
