News & Analysis as of

Small Business SBA Lending Programs False Claims Act (FCA)

Benesch

Paycheck Protection Program (“PPP”) Loan Fraud: A Survey & Analysis of Recent Civil & Criminal Enforcement Outcomes

Benesch on

The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act was a federal law enacted in or around March 2020 designed to provide emergency financial assistance to the millions of Americans who were suffering the...more

PilieroMazza PLLC

PPP Loan Fall-Out: Expect More Audits and Investigations

PilieroMazza PLLC on

Unfortunately, the PPP Loan fall-out is far from over.  As we noted in the last blog on PPP issues, we are seeing a number of PPP Forgiveness denials for a number of different reasons, and, along with that, we are seeing the...more

Dorsey & Whitney LLP

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

Dorsey & Whitney LLP on

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

Cozen O'Connor

PPP Fraud Is Ripe for Enforcement in 2021. Can Self-Disclosure & Cooperation Create a Path to Leniency?

Cozen O'Connor on

As we approach the one-year anniversary of passage of the Coronavirus Aid, Relief and Economic Security (CARES) Act, we are getting a better sense of how the government will address fraud arising out of this legislation....more

Burr & Forman

PPP Borrower Pays Damages and Penalties to Government in First False Claims Act Settlement

Burr & Forman on

The US Department of Justice announced the first civil settlement involving allegations of fraud against a PPP borrower. SlideBelts Inc. received a PPP loan under the CARES Act.  SlideBelts is an internet retail company and...more

Parker Poe Adams & Bernstein LLP

SBA Releases Long-Awaited Guidance on M&A Rules for Paycheck Protection Program Borrowers

The Small Business Administration (SBA) recently released a procedural notice concerning when a borrower of a Paycheck Protection Program (PPP) loan may forgo SBA approval in connection with a merger or acquisition. The...more

Seyfarth Shaw LLP

Money for Nothing—Except Potential False Claims Act Liability

Seyfarth Shaw LLP on

CARES Act - The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act (P.L. 116-136) was passed by Congress and signed into law by President Trump on March 27, 2020. The CARES Act provides over $2 trillion of...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

Carlton Fields

Five Steps to Minimize the Risk of Future FCA Investigations and Enforcement Actions Stemming From COVID-19 Stimulus Funding

Carlton Fields on

Following past national economic emergencies, the government and whistleblowers have initiated federal False Claims Act actions against recipients of government funding....more

Williams Mullen

Paycheck Protection Program: After the Pay Comes the Chase

Williams Mullen on

Federal Stimulus and Oversight - On March 27, 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, which included among its provisions the Paycheck Protection Program (“PPP”). The PPP...more

Foley & Lardner LLP

SBA Loans Under the CARES Act - Updated as of April 25, 2020

Foley & Lardner LLP on

The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), signed into law on Friday March 27, 2020, introduced the Paycheck Protection Program (the “PPP”) with an initial $349 billion in funding and the goal of...more

Foley & Lardner LLP

Applying for a CARES Act Loan? Take Three Simple Steps Now to Avoid Government Scrutiny Later

Foley & Lardner LLP on

The COVID-19 virus crush is upon us at this moment. Like in 2008 with TARP, the government has invited businesses around the country to apply for CARES Act relief to help survive this pandemic...more

Mintz - ML Strategies

COVID-19 Insights Week In Review — April 8, 2020

Mintz - ML Strategies on

As the coronavirus pandemic spreads across the nation, your team at ML Strategies continues to monitor legislative and regulatory updates at the federal and state level. Each week, ML Strategies will provide weekly updates...more

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