New Hampshire PPP Loan Fraud Lawyers

Thanks for visiting Spodek Law Group – a second-generation law firm managed by Todd Spodek, with over 40 years of combined experience handling federal criminal defense cases. If you’re reading this, you likely received a letter from the SBA, got contacted by federal investigators, or discovered your PPP loan is under scrutiny. PPP loan fraud cases are federal prosecutions – the government takes these seriously, and they’re looking for convictions.

This article explains what PPP loan fraud charges look like in New Hampshire, how federal prosecutors build cases, and what you need to do when facing an investigation. We represent clients nationwide in federal fraud cases, including business owners, executives, and individuals caught in PPP loan investigations.

What Triggers PPP Loan Fraud Investigations

The SBA flagged nearly $200 billion in potentially fraudulent PPP loans during their 2023 review. Federal investigators prioritize loans over $150,000, but they’re prosecuting smaller amounts too – especially when someone lied about payroll, employee counts, or whether the business existed.

Your loan gets flagged when inconsistencies appear. Maybe your tax returns don’t match the payroll you claimed. Maybe employees listed on your PPP application weren’t actually working for you in early 2020. The SBA’s systems cross-reference IRS data, state employment records, and bank transactions. When numbers don’t line up – you get investigated.

Federal prosecutors in the District of New Hampshire work closely with FBI agents and SBA investigators. They’re not interested in explanations about “honest mistakes” – they assume fraud first, and you need a defense attorney to prove otherwise.

Federal Charges You’re Actually Facing

Wire fraud – that’s the most common charge. When you submitted your PPP application electronically, you used interstate wire communications. That’s wire fraud under 18 U.S.C. § 1343, carrying up to 20 years in federal prison.

Bank fraud comes next. Making false statements to a financial institution is a separate federal crime under 18 U.S.C. § 1344. The maximum penalty here is 30 years in prison and a $1 million fine. Prosecutors charge both wire fraud and bank fraud in the same indictment – they stack charges to pressure defendants into plea deals.

Then there’s 18 U.S.C. § 1014 – making false statements to the SBA. This statute was written specifically for government loan programs. If prosecutors prove you knowingly lied on your PPP application about employee counts, payroll expenses, or business necessity, you’re facing 30 years in prison.

Conspiracy charges get added when multiple people were involved. If your accountant helped prepare false documents, if a business partner knew about inflated numbers, if anyone else participated – prosecutors charge conspiracy to commit wire fraud or bank fraud. Conspiracy carries the same penalties as the underlying crime.

What “Knowingly” Means in Federal Court

Prosecutors must prove you knew the statements were false when you made them. But “knowingly” doesn’t mean you needed to understand it was illegal – it means you understood the facts were wrong.

You claimed 25 employees when you only had 10? You knew that was false. Federal prosecutors don’t need to prove you read the statute – they just need to prove you lied intentionally.

How the Government Builds PPP Fraud Cases

They start with your bank records. Federal investigators subpoena every transaction in your business accounts for 2019, 2020, and 2021. They’re looking for how you spent PPP funds – whether you bought personal items or paid non-payroll expenses.

Next they pull your tax returns. Your 2019 Schedule C shows actual payroll. If your PPP application claimed higher payroll than what you reported to the IRS – that’s evidence of fraud.

Then they interview your employees. If you claimed 15 employees but investigators find only 8 people who actually worked there – that’s fraud. They analyze how you spent the money. If you bought a boat or paid personal credit cards, prosecutors will argue that proves fraudulent intent.

The Sentencing Reality

Federal sentencing follows guidelines based on loss amount. Fraud involving $150,000 to $250,000 adds significant time. Over $550,000 – you’re looking at years in prison.

Acceptance of responsibility changes outcomes. If you admit wrongdoing early and cooperate, judges can reduce sentences by up to 30%. If you fight charges and lose at trial – you get the maximum.

A Portsmouth business owner who claimed $400,000 based on fake employees got 27 months. These aren’t outliers – they’re typical outcomes in New Hampshire.

Restitution is mandatory. You will repay every dollar of fraudulently obtained funds, plus interest. Fines can reach $250,000 for individuals and $500,000 for businesses.

What Happens When You’re Contacted

FBI agents might show up at your home or business. They’ll say they’re “just asking questions” about your PPP loan. Don’t answer. Don’t explain. Don’t try to justify anything. Agents are building a case – everything you say will be used against you.

Or you get a grand jury subpoena demanding documents. The government is presenting evidence to a grand jury to get an indictment. You need a lawyer before you produce anything.

Sometimes it starts with a target letter – a formal notice that you’re under investigation. That’s helpful because it confirms what’s happening and gives you time to prepare.

Why Spodek Law Group Handles Federal PPP Cases

We’ve represented clients in federal fraud prosecutions since 1976. Todd Spodek’s father founded this firm as a federal criminal defense practice – Todd grew up watching federal trials.

Our team includes former federal prosecutors who know how the government builds fraud cases. They worked these investigations from the other side – they know what evidence prosecutors need, what weaknesses exist, and how to negotiate with DOJ attorneys.

We’ve handled high-profile federal cases that got national attention. The Netflix series about Anna Delvey – Todd Spodek was her attorney through that prosecution. When the Ghislaine Maxwell juror faced misconduct allegations – we represented him.

PPP fraud cases are federal prosecutions that require federal defense experience. We handle cases in New Hampshire’s federal district and in federal courts nationwide. We’re available 24/7.

What We Do Differently

We investigate the government’s case before they finish building it. When you hire us early – during the investigation stage – we can sometimes prevent charges entirely. We submit white papers to prosecutors showing why the evidence doesn’t support fraud charges, why intent is missing, or why accounting errors explain discrepancies.

If charges are filed, we challenge every element. Did you actually make a false statement, or did you rely on your accountant’s calculations? Did you knowingly lie, or did you misunderstand PPP eligibility rules? Was the loss amount what prosecutors claim, or is it lower?

We negotiate aggressively. Federal prosecutors want convictions – they’ll consider plea deals that reduce charges and recommend lower sentences. We’ve gotten wire fraud charges dropped in exchange for guilty pleas to lesser offenses.

When cases go to trial, we win. Most federal criminal cases end in plea deals because the conviction rate at trial is over 90%. But some cases should be tried – when the evidence is weak, when intent is genuinely missing, when the government overcharged.

New Hampshire PPP loan fraud investigations are federal prosecutions with serious consequences. If you’re under investigation or facing charges – call us.