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Lenders › Paycheck Protection Program (PPP) › Criminal Prosecution

Whiteford

Client Alert: Heightened Enforcement Risk for Ineligible Recipients of Paycheck Protection Program Loans

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The United States Department of Justice (“DOJ”) has intensified civil fraud investigations aimed at borrowers who obtained Paycheck Protection Program (“PPP”) loans despite falling outside the class of entities Congress meant...more

Fox Rothschild LLP

Federal Reserve Board Fines Bank for Processing PPP Loans That Had Signs of Fraud

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In its first enforcement action related to COVID-19 government aid programs, the Federal Reserve Board recently announced that it has fined New York-based Popular Bank $2.3 million for processing Paycheck Protection Program...more

Goodwin

U.S. Attorney's Office Settles False Claims Act Allegations with Paycheck Protection Program Lender

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On September 13, 2022, the U.S. Attorney’s Office (USAO) for the Southern District of Texas announced ​that it had reached a settlement with a bank that served as a lender under the Paycheck Protection Program (PPP) to...more

Dorsey & Whitney LLP

DOJ Announces First-In-The-Nation False Claims Act Settlement with PPP Lender

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​​​​​​​The government has been actively investigating and prosecuting Paycheck Protection Program (“PPP” or the “Program”) fraud ever since the Small Business Administration (“SBA”) rolled out the Program in the Spring of...more

Ballard Spahr LLP

PPP enforcement turns to lenders

Ballard Spahr LLP on

As we approach the two-year anniversary of the passage of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), the scope and costs of fraud in connection with its relief programs continues to mount. To date,...more

Dorsey & Whitney LLP

False Claims Act Case Tracker for Paycheck Protection Program Fraud - Update

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In the Spring of 2020, the Small Business Association (“SBA”) began administering the Paycheck Protection Program (the “PPP” or the “Program”) to provide SBA-backed loans to help eligible businesses maintain their workforces...more

Williams Mullen

Williams Mullen's COVID-19 Comeback Plan: Preparing Today for Tomorrow's PPP Audit

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Part of the 2020 Business Solutions Series presented by by the Hampton Roads Alliance and Williams Mullen Charles E. “Chuck” James, Jr., co-chair of both the Firearms Industry Group and the White Collar & Investigations...more

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