PPP Loan Fraud
Offering legal defense services to business owners facing allegations associated with fraud in relation to the Paycheck Protection Program (PPP).
Paycheck Protection Program
In March 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). The CARES Act established a 650-hundred-billion dollar fund for small businesses to apply for loans and the loan proceeds could be used for “allowable uses.” Congress called the program the Paycheck Protection Program (“PPP”).
There has been widespread fraud in this program and federal law enforcement is now committed to investigating, prosecuting, and holding accountable individuals and businesses that the government believes took advantage of the program.
There is no crime called “PPP loan fraud.” Instead, federal prosecutors use pre-existing federal criminal statutes to charge a range of crimes including wire fraud, bank fraud, conspiracy, and money laundering. These are highly technical federal crimes that require the expertise of an experienced federal white collar criminal defense attorney.
If you are being investigated, or think you may be under investigation for PPP loan fraud in North Carolina, it is critical that you consult a PPP loan fraud attorney in North Carolina at the earliest possible stage.
To learn more about the specifics of PPP loan fraud, review our blog post here.
