West Virginia PPP – SBA – EIDL Loan Fraud Lawyers

West Virginia PPP – SBA – EIDL Loan Fraud Lawyers

The COVID-19 pandemic led to an unprecedented amount of government aid being distributed to small businesses through the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) program. While this aid was crucial for many businesses to stay afloat, the speed at which these loans were distributed also created opportunities for fraud. In West Virginia, PPP and EIDL fraud is on the rise, and business owners are facing serious criminal charges.

As West Virginia fraud defense attorneys, we have seen multiple cases of alleged PPP and EIDL fraud. The most common schemes include:

Loan “Stacking”

This involves applying for and receiving multiple PPP loans from different lenders for the same business. Business owners are only allowed one PPP loan, so obtaining more than one constitutes fraud.

PPP Loan Application Fraud

Falsifying information on a PPP loan application, such as number of employees, payroll expenses, or past revenues. Lying on these applications is considered loan fraud.

Fraudulent Loan Certification

Falsely certifying that PPP loan funds will be used for payroll and other allowable expenses. In reality, the business owner uses the money for personal expenses.

Using PPP Funds for Ineligible Business Purposes

PPP funds can only be used for certain business expenses like payroll, rent, utilities, etc. Misusing the funds for other purposes is illegal.

Using PPP Funds for Personal Enrichment

Business owners cannot use PPP loans to enrich themselves through bonuses, personal purchases, or other non-business uses. This constitutes fraud.

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

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

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

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

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

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

2024-03-12

Very professional, very transparent, over all a great experience

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

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.

Load more

Google rating score: 4.9 of 5, based on 736 reviews

PPP and EIDL fraud charges are very serious. They are usually prosecuted under federal law as wire fraud, bank fraud, or false statements. Potential penalties include years in prison, massive fines, and having to repay all loan funds.

If you are being investigated or charged with PPP or EIDL fraud in West Virginia, it is critical to have an experienced federal defense lawyer on your side. Do not say anything to investigators without counsel present. We can evaluate your case and build the strongest defense.

Potential defenses in PPP/EIDL fraud cases include:

• You acted in good faith and did not intend to defraud
• Errors or mistakes were made, but there was no intent to deceive
• You used the funds for legitimate business purposes
• The lender was aware of all pertinent facts but still approved the loan
• The government guidance was unclear or contradictory

An aggressive defense can get charges reduced or even dismissed. Do not take chances with your future. Contact our West Virginia fraud lawyers for a free case review.

References

U.S Attorneys and FBI warn of potential fraud surrounding SBA loans – Department of Justice. (2020, May 1). https://www.justice.gov/usao-ndwv/pr/us-attorneys-and-fbi-warn-potential-fraud-surrounding-sba-loans

What to do if you’re billed for an SBA EIDL loan you don’t owe | Federal Trade Commission. (2021, March 9). https://www.ftc.gov/business-guidance/blog/2021/03/what-do-if-youre-billed-sba-eidl-loan-you-dont-owe

While AI can benefit the legal system, WVU law expert warns of potential errors and bias. (2023, August 8). https://wvutoday.wvu.edu/media-center-blog/2023/08/08/expert-pitch-while-ai-can-benefit-the-legal-system-wvu-law-expert-warns-of-potential-errors-and-bias

SBA/PPP Loan Fraud Defense Attorney – Have You Been Indicted? | Federal Lawyer. (n.d.). https://federal-lawyer.com/criminal-law/ppp-loan-fraud/

What to do if you’re billed for an SBA EIDL loan you don’t owe | Consumer Advice. (2021, March 9). https://consumer.ftc.gov/consumer-alerts/2021/03/what-do-if-youre-billed-sba-eidl-loan-you-dont-owe

West Virginia PPP – SBA – EIDL Loan Fraud Lawyers. (2023, September 12). https://www.federallawyers.com/criminal-defense/west-virginia-ppp-sba-eidl-loan-fraud-lawyers/