News & Analysis as of

SBA Lending Programs Paycheck Protection Program (PPP) Government Investigations

J.S. Held

Current Enforcement Efforts in the Battle Against COVID-19 Loan Program Fraud

J.S. Held on

The COVID-19 pandemic caused unprecedented impacts around the world including stay-at-home orders, curfews, quarantines, and economic uncertainty. Businesses across the United States were forced to close their doors, limit...more

Polsinelli

President Biden Extends Statute of Limitations for PPP and EIDL Fraud to Ten Years

Polsinelli on

In August, President Biden signed two bills into law that give the Department of Justice and other federal agencies more time to investigate and prosecute Paycheck Protection Program (“PPP”) and COVID-19 Economic Injury...more

Burr & Forman

PPP/CARES Act Audit, Investigations and Defense Response Kit

Burr & Forman on

The PPP and CARES Act Audit, Investigations and Defense Team has developed a Response Kit that includes the PPP and CARES Act Audit, Investigations and Defense overview; FAQ’s; Important Documents list; and Burr’s PPP and...more

Troutman Pepper Locke

SBA Issues New Guidance Reducing Risk of Government Investigations for Paycheck Protection Program Borrowers

Troutman Pepper Locke on

Businesses applying for loans under the Paycheck Protection Program (“PPP”) must make certain certifications to the government in their application, including a certification that the loan is “necessary” to support the...more

Goodwin

U.S. Paycheck Protection Program Loan Recipients: Risks of Qui Tam Actions under the False Claims Act

Goodwin on

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) established the Paycheck Protection Program (PPP), making available nearly $350 billion in loan funding to small businesses impacted by...more

BCLP

SEC reportedly investigating public disclosures by PPP recipients

BCLP on

We understand that several issuers and regulated entities that publicly disclosed their receipt of funds from the SBA’s Paycheck Protection Program (PPP), established by the Coronavirus Aid, Relief, and Economic Security...more

Cozen O'Connor

Companies Receiving PPP Funds Should Prepare for Audits, and Implement Compliance Now

Cozen O'Connor on

Treasury Secretary Steven Mnuchin issued a warning on the heels of the second funding of the federal Payroll Protection Program (PPP) that large or public companies will be audited if they received a loan under the program....more

Hogan Lovells

Braving a perfect storm: Avoiding legal and reputational risk associated with CARES Act oversight and investigations

Hogan Lovells on

Businesses across the United States have been battered by the COVID-19 crisis and many companies have been the recipients of unprecedented levels of economic assistance and tax relief under the Coronavirus Aid, Relief, and...more

Holland & Knight LLP

Oversight and Investigations Related to COVID-19 Pandemic Spending and Federal Programs

Holland & Knight LLP on

The president signed into law on March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), providing $2.2 trillion of emergency appropriations. The CARES Act provides a wide range of economic relief...more

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