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Oklahoma PPP – SBA – EIDL Loan Fraud Lawyers

March 21, 2024

Oklahoma PPP – SBA – EIDL Loan Fraud Lawyers

Getting charged with fraud for taking out a Paycheck Protection Program (PPP) or Economic Injury Disaster Loan (EIDL) can be really scary. Here in Oklahoma City, there’s been a bunch of cases of people getting charged with PPP and EIDL fraud. They lied on their applications about their business info or used the money for personal stuff instead of their business. Some even made up fake businesses just to get the loans! I know it seems tempting when the government’s just handing out money, but it can end up ruining your life if you get caught.

In this article, we’ll break down exactly what kinds of PPP and EIDL fraud people are getting charged with in Oklahoma. We’ll also talk about what happens if you get charged and how a lawyer can help defend you. There’s a lot of confusing legal mumbo-jumbo around these cases, so I’ll try to explain it in simple terms anyone can understand!

What is PPP and EIDL Fraud?

Let’s start with what PPP and EIDL even are. The PPP and EIDL programs were created by the CARES Act in 2020 to help small businesses struggling from COVID-19 shutdowns. PPP gives low-interest loans that are forgiven if you use most of the money to pay employees. EIDL gives low-interest disaster loans. Both are administered by the Small Business Administration (SBA).

Here are some common ways people commit fraud with these loans:

  • Lying on the application about your business – like making up fake employees or revenue numbers
  • Using the loan money for personal purchases instead of business expenses
  • Applying for multiple loans for the same business
  • Creating a fake business just to get loan money

Prosecutors are throwing the book at people for PPP and EIDL fraud. Let’s look at what’s happening right here in Oklahoma.

Oklahoma PPP and EIDL Fraud Cases

Federal prosecutors in Oklahoma have been busy charging people for cheating to get these COVID loans. Here are some real examples of cases:

  • A Ponca City woman got over 2 years in prison for creating fake businesses to get $300,000 in PPP loans.
  • A man from Edmond faces up to 30 years in prison for fabricating documents to get $1.2 million in PPP and EIDL loans.
  • Six people from around the state were charged with conspiracy to submit false loan applications totaling over $1.2 million.

You can see they are handing out serious prison time for this stuff! Just a few thousand dollars can lead to years behind bars.

Christine Twomey
Christine Twomey
2024-03-21
Just had my Divorce case settled 2 months ago after having a horrible experience with another firm. I couldn’t be happier with Claire Banks and Elizabeth Garvey with their outstanding professionalism in doing so with Spodek Law Group. Any time I needed questions answered they were always prompt in doing so with all my uncertainties after 30 yrs of marriage.I feel from the bottom of my heart you will NOT be disappointed with either one. Thanks a million.
Brendan huisman
Brendan huisman
2024-03-18
Alex Zhik contacted me almost immediately when I reached out to Spodek for a consultation and was able to effectively communicate the path forward/consequences of my legal issue. I immediately agreed to hire Alex for his services and did not regret my choice. He was able to cover my case in court (with 1 day notice) and not only was he able to push my case down, he carefully negotiated a dismissal of the charge altogether. I highly recommend Spodek, and more specifically, Alex Zhik for all of your legal issues. Thanks guys!
Guerline Menard
Guerline Menard
2024-03-18
Thanks again Spodek law firm, particularly Esq Claire Banks who stood right there with us up to the finish line. Attached photos taken right outside of the court building and the smile on our faces represented victory, a breath of fresh air and satisfaction. We are very happy that this is over and we can move on with our lives. Thanks Spodek law 🙏🏼🙏🏼🙏🏼🙏🏼🙌🏼❤️
Keisha Parris
Keisha Parris
2024-03-15
Believe every single review here about Alex Z!! From our initial consultation, it was evident that Alex possessed a profound understanding of criminal law and a fierce dedication to his clients rights. Throughout the entirety of my case, Alex exhibited unparalleled professionalism and unwavering commitment. What sets Alex apart is not only his legal expertise but also his genuine compassion for his clients. He took the time to thoroughly explain my case, alleviating any concerns I had along the way. His exact words were “I’m not worried about it”. His unwavering support and guidance were invaluable throughout the entire process. I am immensely grateful for Alex's exceptional legal representation and wholeheartedly recommend his services to anyone in need of a skilled criminal defense attorney. Alex Z is not just a lawyer; he is a beacon of hope for those navigating the complexities of the legal system. If you find yourself in need of a dedicated and competent legal advocate, look no further than Alex Z.
Taïko Beauty
Taïko Beauty
2024-03-15
I don’t know where to start, I can write a novel about this firm, but one thing I will say is that having my best interest was their main priority since the beginning of my case which was back in Winter 2019. Miss Claire Banks, one of the best Attorneys in the firm represented me very well and was very professional, respectful, and truthful. Not once did she leave me in the dark, in fact she presented all options and routes that could possibly be considered for my case and she reinsured me that no matter what I decided to do, her and the team will have my back and that’s exactly what happened. Not only will I be liberated from this case, also, I will enjoy my freedom and continue to be a mother to my first born son and will have no restrictions with accomplishing my goals in life. Now that’s what I call victory!! I thank the Lord, My mother, Claire, and the Spodek team for standing by me and fighting with me. Words can’t describe how grateful I am to have the opportunity to work with this team. I’m very satisfied, very pleased with their performance, their hard work, and their diligence. Thank you team!
Anthony Williams
Anthony Williams
2024-03-12
Hey, how you guys doing? Good afternoon my name is Anthony Williams I just want to give a great shout out to the team of. Spodek law group. It is such a honor to use them and to use their assistance through this whole case from start to finish. They did everything that they said they was gonna do and if it ever comes down to it, if I ever have to use them again, hands-down they will be the first law office at the top of my list, thank you guys so much. It was a pleasure having you guys by my side so if you guys ever need them, do not hesitate to pick up the phone and give them a call.
Loveth Okpedo
Loveth Okpedo
2024-03-12
Very professional, very transparent, over all a great experience
Bee L
Bee L
2024-02-28
Amazing experience with Spodek! Very professional lawyers who take your case seriously. They treated me with respect, were always available, and answered any and all questions. They were able to help me very successfully and removed a huge stress. Highly recommend.
divesh patel
divesh patel
2024-02-24
I can't recommend Alex Zhik and Spodek Law Firm highly enough for their exceptional legal representation and personal mentorship. From the moment I engaged their services in October 2022, Alex took the time to understand my case thoroughly and provided guidance every step of the way. Alex's dedication to my case went above and beyond my expectations. His expertise, attention to detail, and commitment to achieving the best possible outcome were evident throughout the entire process. He took the time to mentor me, ensuring I understood the legal complexities involved to make informed decisions. Alex is the kind of guy you would want to have a beer with and has made a meaningful impact on me. I also want to acknowledge Todd Spodek, the leader of the firm, who played a crucial role in my case. His leadership and support bolstered the efforts of Alex, and his involvement highlighted the firm's commitment to excellence. Thanks to Alex Zhik and Todd Spodek, I achieved the outcome I desired, and I am incredibly grateful for their professionalism, expertise, and genuine care. If you're in need of legal representation, look no further than this outstanding team.

What Happens If You Get Charged?

Let’s say the feds catch on to your PPP or EIDL fraud. What happens next?

First, you’ll probably get a target letter from the U.S. Attorney’s Office letting you know you’re under investigation. This is when you absolutely need to hire a lawyer because anything you say can be used against you.

Next, you may get charged with federal crimes like wire fraud, bank fraud, or making false statements. The FBI could show up at your door to arrest you! Then they’ll haul you into court in handcuffs for your initial appearance.

After that, your fraud case moves forward like any federal criminal case. Prosecutors will try to get you to plead guilty. If you don’t, you’ll go to trial where you’d face years in prison if convicted.

Let’s look at how an experienced lawyer can help you fight these charges.

How a Lawyer Can Defend You

Facing federal fraud accusations is terrifying. But a skilled lawyer can often get charges reduced or even dismissed. Here’s how they can help:

  • Negotiate with prosecutors – Your lawyer may be able to work out a plea deal to get charges dropped or reduced. This happens a lot in fraud cases.
  • Challenge evidence – If evidence against you was obtained illegally, it may get thrown out. An attorney will scrutinize the evidence.
  • Raise defenses – There are defenses like you not knowing statements on your application were false. A lawyer can explain defenses to the jury.
  • Present mitigating factors – Your clean record and other mitigating factors could help lower your sentence if convicted.

While you’re under investigation, your lawyer can also protect your rights. They’ll deal with the feds for you so you don’t accidentally incriminate yourself. If charges do get filed, a skilled federal defense lawyer is critical to defending your freedom.

Avoiding Trouble from the Start

The best way to avoid PPP and EIDL fraud accusations is not to commit fraud in the first place! Here are some tips:

  • Be 100% truthful on your loan application – don’t exaggerate anything.
  • Only use the loan for approved business expenses.
  • Don’t apply for multiple loans for the same business.
  • If unsure, consult with an attorney or accountant when applying.

Following the rules to a T protects you from getting accused of fraud. If you do end up under investigation, don’t say anything to the feds until you have a lawyer to protect your rights.

Dealing with federal fraud charges is scary. But an experienced attorney can help negotiate with prosecutors and defend your freedom. Be smart from the start and don’t commit fraud – but if you do get charged, fight back with a skilled lawyer in your corner.

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Todd Spodek

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RALPH P. FRANCHO, JR

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JEREMY FEIGENBAUM

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ELIZABETH GARVEY

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CLAIRE BANKS

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RAJESH BARUA

Of-Counsel

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CHAD LEWIN

Of-Counsel

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