12 Sep 23

Raleigh PPP – SBA – EIDL Loan Fraud Lawyers

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Last Updated on: 12th September 2023, 06:11 pm

Raleigh PPP Loan Fraud Lawyers – Helping Small Businesses Avoid Jail Time

When the COVID pandemic hit in 2020, the government set up the Paycheck Protection Program (PPP) to throw struggling small businesses a lifeline. But not everyone used those loans properly. Now folks are getting charged with PPP loan fraud from Raleigh to Asheville. If this sounds like you, don’t panic. A good lawyer can help.

The Most Common Types of PPP Loan Fraud

Turns out, folks found all sorts of “creative” ways to misuse their emergency PPP loans. Some of the biggest scams include:

  • Lying on loan apps to get bigger loans
  • Spending the cash on fancy vacations and cars instead of payroll
  • Double-dipping by getting multiple loans for one business
  • Making up fake businesses to get loans

While business owners may claim it was a simple mistake, prosecutors go after this as straight-up fraud and theft. And the penalties can be steep.

What Kind of Jail Time Are We Talking?

In Raleigh, it’s the U.S. Attorney’s Office handing down charges like wire fraud, bank fraud, identity theft, and money laundering. How much time you get depends on the specifics:

  • Up to 30 years for wire and bank fraud over $1,000
  • 5 years per false statement
  • Mandatory 2 years for identity theft
  • Up to 20 years for money laundering

There’s also fines up to $1 million, repaying the loans, and forfeiting anything you bought with the money. Like this Raleigh woman who pleaded guilty to conspiracy for a $149,000 fraudulent loan.

Don’t Panic – A Good Lawyer Can Defend You

Even with the huge penalties, a skilled Raleigh white collar defense lawyer has tricks up their sleeve. Like arguing:

  • You didn’t mean to commit fraud – just made mistakes
  • You qualify for loan forgiveness from the SBA
  • The expenses weren’t really improper
  • You were forced into it by threats or abuse

A good attorney will also dig for any constitutional violations in the investigation, like illegal searches or ignored Miranda rights.

Choosing the Right PPP Fraud Lawyer in Raleigh

If you’re facing charges, don’t go it alone. Look for a Raleigh lawyer who[1]:

  • Knows the CARES Act and PPP rules inside out
  • Has a proven record of winning cases
  • Can negotiate with prosecutors
  • Isn’t afraid to take it to trial

The right lawyer can get your charges dropped or reduced, but you’ve got to act fast. Give them a call as soon as investigators contact you – the earlier the better.

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