Soon after Congress passed the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) in March 2020, the Criminal Division of the U.S. Department of Justice (DOJ) moved quickly to address potential COVID-19 related...more
An uptick in fraud prosecutions and litigation has historically followed federal crisis relief programs. In addition to this historical trend, the attention fraud related to the novel coronavirus ("COVID-19") has garnered...more
The past decade has taught lenders much about regulatory enforcement risk. In the fallout of the 2008 financial crisis and collapse of the housing and related markets, the Department of Justice and other agencies...more
In the early weeks of the COVID-19 public health crisis, the federal government prioritized a swift response to the economic impact of the novel coronavirus, including several pieces of legislation that sought to infuse cash...more
As the country struggles with COVID-19, many companies have applied for and received funds under the CARES Act and its Payment Protection Program (“PPP”). Those companies must understand there are significant risks tied to...more
While gearing up to get trillions of dollars into the economy, the government was also setting in place the mechanism to investigate and prosecute fraud related to these programs. The CARES Act was signed into law on March...more
While uncertainty has been the overarching theme of the global COVID-19 pandemic, one thing is beyond doubt: the Coronavirus Aid, Relief, and Economic Security (CARES) Act’s distribution of more than $2 trillion in stimulus...more
Emergency COVID-19 relief legislation signed into law by President Trump, including the Coronavirus Aid, Recovery, and Economic Security Act (“CARES Act”), has allocated more than $2 trillion in economic aid to individuals,...more
As former federal prosecutors, the authors have investigated and prosecuted individuals who committed various crimes relating to TARP funding and other crisis aid. With the passage of the U.S. CARES Act and more than $349...more
The Coronavirus Aid Relief and Economic Security Act (CARES Act), is the most expensive piece of legislation ever passed and aims money at businesses to keep them afloat during the COVID-19 pandemic. With nearly $500 billion...more
Any financial crisis, especially one as pronounced as that triggered by the coronavirus (COVID-19) pandemic, puts companies at heightened risk for fraud. With $2.2 trillion about to be made available for financial relief...more