Criminal Charges Continue for CARES Act and PPP Fraud On Wednesday, the Department of Justice announced two more criminal cases alleging fraud against the CARES Act Paycheck Protection Program (PPP). In one case out of Texas, the government alleges that a purported business owner falsely certified that he employed over [...]

PPP – Certifying a Good Faith Need Many business owners are facing a difficult decision over whether to return PPP funds after recent guidance from the Treasury. All borrowers must certify in good faith that their loan request is necessary.  Specifically, applicants must certify that “economic uncertainty makes this loan [...]

The government announced today that it has brought the first criminal charges against business owners accused of filing fraudulent PPP applications under the coronavirus stimulus plan. 

Paycheck Protection Program Explained Under the Paycheck Protection Program (“PPP”), Congress has authorized up to $349 billion in forgivable loans, available to small businesses during the COVID-19 pandemic to help supplement payroll and other business needs.  With such a large investment, enforcement actions by the government are surely around the [...]

CARES Act and Paycheck Protection Program Audits Today, Treasury Secretary Steven Mnuchin announced to the press that the federal government will audit any business that takes more than $2 million from the government's coronavirus loan program.  The program was intended to help support small businesses during the pandemic.  It offers [...]