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PPP Loan Fraud Tireless Defense in Complex Criminal Matters

PPP Loan Fraud Attorneys in Orlando

Providing Effective & Personalized Defense in Orange County

On March 27, 2020, the terrible consequences of COVID-19 pandemic led the federal government to create the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This act was designed to offer benefits to companies and individuals suffering from losing work due to the virus and its subsequent lockdowns. The Paycheck Protection Program, also known as the PPP, designated almost $350 billion to relieve businesses experiencing harsh financial consequences due to the crisis.

Even though the PPP had designated a seemingly large amount of money, these funds were depleted almost instantly since so many applications flooded in. Many businesses that would have been eligible were left to fend for themselves, creating an uproar amongst many owners. The PPP and those who received aid are now under scrutiny from the government. While many of those who were granted relief needed the funds desperately, prosecutors are likely to be harsh in examining business’s backgrounds and fraud claims on minor technicalities or mistakes. To protect your business from fraud accusations, retain the help from our Orlando PPP loan fraud attorneys at Alers Law Firm.

Contact us today at (407) 988-0992 for protection of fraud claims during this time of crisis.

What Counts as Paycheck Protection Program (PPP) Loan Fraud?

All federal programs can be vague in clarifying the certain circumstances, details, and stipulations that are covered beneath the Act. Since the PPP was created so quickly under the pandemic’s sudden crisis, this program especially is filled with unclear instructions for how to distribute funds.

These vague instructions make it easier for businesses receiving aid to make mistakes in eligibility, organization, and distribution of funds. Nevertheless, such omissions still make room for the federal government to allege that a company is fraudulent, even when it’s not the business’s fault.

Our knowledgeable lawyers have identified potential fraud accusations that might be made in connection to the PPP, including:

  • Loan “stacking” – Receiving loans from multiple lenders
  • Eligibility criteria – Claims that a company is ineligible on various factors, including misrepresenting numbers and classifications of employees and payroll costs
  • Ineligible use of funds – PPP funds are only permitted to cover benefits and payroll, rent, utilities, and mortgage interest, and only those that had been in place before February 15, 2020

Protecting Yourself Against Fraud Allegations

In the above cases, there is much room for error and misunderstanding since the PPP is filled with gaps that may inadvertently trap businesses and companies who do not have clarification on key requirement clauses, or information is missing entirely. Nevertheless, federal authorities may still accuse you of ineligibility or misrepresentation for no intentional fault of your own.

In the scenario that you or your business is being investigated, it is crucial not to offer information that could possibly harm you. It is also critical to not conceal anything that would be relevant to the case since this also counts as a type of fraud.

Lawyers Defending Against PPP Loan Fraud Charges in Orlando

In this already uncertain time of fear and stress due to the deadly COVID-19 pandemic, facing the charges of loan fraud can fill you with even more anxiety. The most crucial thing to do if you are facing an investigation or audit in connection to the PPP is to contact one of our skilled Orlando PPP loan fraud lawyers immediately.

Most law firms have not even had time to react to this new wave of fraud allegations and are still reeling from the effects of the virus. However, at Alers Law Firm, our team can give you powerful defense counsel immediately from our attorneys who are very successful at defeating federal charges.

Contact us now at (407) 988-0992 to find protection and security against fraud allegations during the aftermath of COVID-19.

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