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PPP Loan Fraud Lawyers

PPP Loan Fraud Lawyers

For many businesses in 2020, receiving financial help through the Paycheck Protection Program has meant the difference between staying open or going bankrupt. Part of the CARES Act enacted by Congress in March 2020, the PPP as it’s known has distributed billions of dollars to businesses across the United States. However, along the way there have been many allegations of business owners and others gaining access to PPP loans through fraudulent means. While there have of course been people using various scams in this situation, there have been far more business owners who made honest mistakes due to confusion about the program’s rules and requirements. However, the federal government is often choosing to assume people are guilty until proven innocent. If you have been visited by federal agents or believe federal fraud charges against you and your business are a possibility, meet with and hire PPP loan fraud lawyers as quickly as possible.

Why So Much Scrutiny?
As to why the federal government is focusing so much scrutiny on the PPP, the answer can be summed up in the amount of $350 billion. Having dispersed at least this much money through the PPP, the federal government is currently unhappy at the amount of negative publicity generated about the PPP. With so many business owners scrambling to fill out applications and lenders trying to make sense of the rules associated with the loan program, the result has been chaos each and every step of the way. Also, while $350 billion is certainly an enormous sum of money, the fact is these funds were depleted in a very short period of time, raising concerns many people and businesses received funds to which they were not entitled. Because of this, authorities are now using the government’s database of PPP information to examine all transactions made within the program, hoping to uncover evidence of widespread fraud. If you believe you did nothing wrong but are still being threatened with fraud charges by the government, talk over your situation with experienced PPP loan fraud lawyers at once.

Lenders Blaming Businesses
While business owners have certainly had a responsibility to understand the rules of the PPP prior to applying for loans, lenders have also had a responsibility to uphold their end of the deal regarding rules and regulations. However, as the Treasury Department has sought feedback from lenders as to why so much confusion and possible fraud has taken place, lenders have essentially placed much if not all of the blame on business owners. By doing so, they have in fact empowered federal investigators to dig even deeper into these transactions to find evidence of fraud, when in fact it simply may not exist in many cases. Thus, if you worked closely with your lender and secured PPP funding, it is possible your lender is now trying to throw you under the bus to the federal government. Should you suddenly receive a letter from the U.S. Attorney General’s office or perhaps a visit from federal investigators regarding your PPP loan, assume fraud charges may not be far behind. But instead of panicking and procrastinating, contact PPP loan fraud lawyers who know how to handle these cases and get positive results for their clients.

Fraud Charges
If the federal government comes along and does in fact threaten you with fraud charges, it could be due to one or more reasons. For many business owners, they are being accused of loan stacking, meaning the federal government supposedly has evidence showing you received PPP loans from more than one lender, which is prohibited. In other situations, the government will claim you willfully misled lenders and the government by putting false information on your PPP loan application. For some business owners, the federal government will allege they used the PPP funds they received for purposes other than those which are allowed by law. According to rules associated with the PPP, money given to businesses could only be used to pay employees, rent, utilities, or interest from mortgages. However, the expenses that could be paid must have already been in existence as of February 15, 2020, making it likely many recipients did not understand this and thus used their loans for what the government deems illegal expenses. If this is what happened to you, trying to explain this to the government on your own will be futile. To protect your rights while your situation gets resolved, let PPP loan fraud lawyers examine the evidence and speak to federal authorities on your behalf.

Penalties for PPP Loan Fraud
Whether you are threatened with PPP loan fraud by federal agents or have already been charged with fraud by prosecutors, you no doubt have been told of the severe penalties you could face if found guilty of fraud. Along with financial penalties that could include fines and paying back the money you received from the government, there is also the chance you could be sent to prison for several years or more. Since investigators will use these threats of fines and prison to get you to start talking to them, many people do so and make critical mistakes in regards to incriminating themselves. Instead of doing this, choose to use the rights granted you by the U.S. Constitution and say as little as you can to investigators or prosecutors. Once you make this decision, contact PPP loan fraud lawyers and schedule an immediate consultation.


Charle Butler
Charle Butler
2021-03-12
Verified
I was hesitant to hire the Spodek Law Group. I read reviews and knew they have a great reputation. However, I thought I would spend money and not see or speak to my attorney. From the beginning to end of my case Todd and the entire staff were available and willing to help. We worked towards and end result that was way above my expectation and Todd delivered. I am forever grateful for patience and long days and night spent working on my case. Thanks Todd and the entire team!
Mesonista parsons
Mesonista parsons
2021-03-05
Verified
My attorney at Spodek was Abigail. She was very knowledgeable and helpful with all my questions and concerns, as well as responsive. Her fees are affordable and Abigail took the time to make sure I understood everything relating to my case. I highly recommend Abigail and will request her services in the future.
debabrata chakraborty
debabrata chakraborty
2021-03-03
Verified
Todd A Spodek is the experienced and best criminal lawyer at USA. He is very professional and always respond on time. Alex also very cooperative and always help me. They took care me and my problem like family member. I am 100% satisfied for their professional service. My result was unexpected and amazing. They dismissed my case. I am really grateful to them. I will recommend you to go there if you want to solve your problem. I wish all the best for them.
Asata Hendricks
Asata Hendricks
2021-03-02
Verified
Truly appreciate the work the guys did!. Exceptional team & I know they care about each and everyone of their clients. I am super thankful to be referred to Spodek Law Group and I am grateful Todd & Alex were able to work diligently to achieve an outcome I am pleased with. Despite COVID they stayed on top of things and kept me informed every step of the way. Very thankful.
Mike Moroff
Mike Moroff
2021-02-26
Verified
I'm very satisfied with the services rendered by Todd, Alex and Mary Lou. I whole heartedly recommend Spodek Law Group . I've worked with and have retained other attorneys in the past with Todd's firm being the cream of the crop for many reasons. A very serious legal matter was resolved after a year's hard work and effort. Todd expertly guided me through the process and was able to navigate and make the good journey bearable as well as successful. Mary Lou initially provided excellent assistance before referring my case to Todd. Alex's support was effective and timely. The customer portal (MyCase) is an invaluable communication tool that also kept track of my case. Various aspects of my case were explained and there were several options provided but I made the final decision of how the case would be handled. The legal fee was reasonable considering the effort and amount of work plus it was a flat fee regardless of the length of time required to conclude my case. Todd made himself available to me and we had many scheduled meetings to go over the progress and to discuss the next steps. I felt more confident after many discussions with him. You will not go wrong choosing Spodek Law Group for legal matters.
Josh Katz
Josh Katz
2021-02-24
Verified
Being that it was the first time that I was in need of an attorney, I was afraid and hesitant and knew I needed the absolute best. It is beyond understood why Spodek Law Group has a reputation of being the top, if not the best law firm in New York. Alex and Abigail were there every step of the way even at the most unconvenient hours. I could not have asked for more. They are extremely good at what they do and they delivered much much more than just winning my case. A big thank you to Alex and Abigail for all the guidance and counseling and their upmost loyal support that extended far more than just legally. If you need the absolute best than don't hesitate to hire Spodek Law Firm.
L.C.
L.C.
2021-02-24
Verified
I cannot tell you how thankful I am to Todd and Alex for their hard work and dedication to my case. I had never been in any trouble before but I had an unfortunate event occur and in the midst of COVID-19 at that therefore I knew I needed a team that was dedicated to my success. Today- my case has been finalized and I’m walking away with no record and can continue life as a mother and a Grad student worry free. I cannot express enough gratitude for their assistance.
AnnMarie Soliman
AnnMarie Soliman
2021-02-23
Verified
I received a summons and called Spodek law group for a free consultation. Alex took my call and was very quick and responsive. He was available anytime through multiple platforms and very reassuring when needed. They are extremely organized and thorough. They got my case dismissed! I’m very grateful. Thank you Alex and Todd!

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"Spodek Law Group have offered me excellent support and advice thru a very difficult time. I feel I've dealt with someone who truly cares and wants the best outcome for you and yours. I'm extremely grateful for all the help Spodek Law Group has offered me. I can't recommend them..."

David Bruce

"Spodek Law Group was incredibly professional and has given me the best advice I could wish for. They had been helpful and empathetic to my stressful situation. Would highly recommend Spodek Law Group to anyone I meet."

Rowlin Garcia

"Best service I ever had. Todd is absolutely class personified. You are in the safest hands with spodek. They have their clients interest in mind."

Francis Anim
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