PPP loan fraud ATTORNEY IN DALLAS, TX
HAVE YOU BEEN CHARGED WITH PPP loan fraud?
Have you or someone you know been charged with PPP loan fraud in Dallas, Texas or surrounding areas and are looking for a PPP defense lawyer? PPP defense lawyers Gallian Firm are former prosecutors who are known for relentlessly and fiercely defending their clients in federal court. They are your best choice to defend you against PPP fraud charges. A single phone call to PPP loan lawyers Gallian Firm means a confidential, free consultation and case review. A conviction in court for PPP loan fraud can result in potentially disastrous consequences for you and your future, including ample time in jail and hefty fines. So a PPP loan lawyer will be critical to employ in your defense. Gallian Firm is the best, and knows what it will take to get you the best results possible.
WHAT IS THE Definition of PPP loan fraud?
PPP Loan Fraud is one of the many federal crimes small business owners face almost years after the COVID-19 pandemic was at its peak. While the Paycheck Protection Program helps keep many businesses open, others see it as an opportunity to misuse the funds.
Around 15% of PPP loans have suspected fraud, meaning some businesses that needed help couldn’t get it. The feds are not happy about this. If you fraudulently benefitted and know someone who was not able to benefit from the PPP loan program and needed it, things could get messy. They could have already reported you to the federal government. There is even an anonymous tip line to report suspected PPP fraud to the federal government.
If you are even in this situation, you will want to contact PPP loan lawyers Gallian Firm immediately. If you have been accused but not charged, it is worth the call . And you will want to keep reading!
PPP loan fraud carries MAJOR FINES & PENALTIES
There are notable fines and penalties attached to PPP loans. One of many federal crimes is applying to the paycheck protection program with false statements. In an attempt to defraud the Small Business Administration or a financial institution, you could face up to 30 years in prison.
You could also pay $1,000,000 for this exact crime. Some businesses went to great lengths to obtain PPP loans and stole the identity of others. The aggravated identity theft charge is a felony offense with a two-year prison term.
Misusing PPP loans IS SEEN BY THE FEDS AS HURTING SMALL BUSINESSES
According to researchers, around $76 billion in PPP loans were taken out illegitimately. That’s nearly 10% of the funds from the loan program with an almost $800 billion dollar budget. Many small businesses were denied loans due to the funds running out, which means those who committed PPP Loan fraud are viewed as hurting small businesses. To an organization like the US Small Business Administration (SBA), this is reprehensible and they are beginning to pursue claims of fraud with fervor, even though many think that they are “out of the woods” from being charged. Any PPP loan lawyer can tell you this is not the case. More and more small business owners are seeking top PPP defense lawyers like Gallian Firm as they are facing these investigations which often lead to charges.
BE AWARE: THE SBA IS STILL AUDITING Auditing PPP loans
All companies that received $2 million or more in PPP loans are subject to audit by the Small Business Administration. Other investigation divisions by the SBA, the U.S. Department of Justice (DOJ), and various federal agencies investigate recipients suspected in PPP loan fraud cases.
The SBA has stepped up audits and investigations in 2022 and is suspected to increase investigations in 2023. A PPP defense lawyer is going to be crucial to both explain the charges to you and if a defense is needed, PPP loan lawyers Gallian Firm are ready to do both.
Around 15% of PPP loans have suspected fraud, meaning some businesses that needed help couldn’t get it. The feds are not happy about this. If you fraudulently benefitted and know someone who was not able to benefit from the PPP loan program and needed it, things could get messy. They could have already reported you to the federal government. There is even an anonymous tip line to report suspected PPP fraud to the federal government. If you are even in this situation, you will want to contact the PPP loan lawyers at Gallian Firm immediately. If you have been accused but not charged, it is worth the call.
Types of PPP loan fraud
There are many types of PPP loan fraud, but here are a few:
PPP loan DATA BREACH SCAMS
When the paycheck protection program emerged, fraudsters took the opportunity to target small businesses with scams. Through various schemes, they attempted to gain sensitive data, banking and financial details, and other personally identifiable pieces of information.
Any of these scams can lead to investigations and serious charges for which you will need an experienced PPP defense lawyer like those at Gallian Firm.
PPP loan FORGIVENESS SCAMS
Another portion of the PPP Loan that some attempted to defraud was the forgiveness application. PPP Loan Forgiveness was for loan recipients to apply for financial relief to repay the loan. Yet, some used this as an opportunity to forgive the funds they took illegally.
PPP APPLICATION FRAUD
You can also be charged for misrepresenting or misstating facts about your business or identity that were material in obtaining a PPP loan. Fraud charges can also be applied for any waste, mismanagement, or misconduct involving any SBA programs, including the PPP loan program. If charged with PPP application fraud, contact PPP defense lawyers Gallian Firm as soon as possible.
ARE YOU Suspected of PPP loan fraud?
PPP loan fraud is a serious accusation that you don’t want on your record. You will need a PPP defense lawyer if charges have already been filed. While you can apply for PPP loan forgiveness, it can be a complicated process. The PPP loan forgiveness application most likely won’t be processed with any suspicion of fraud.
CALL PPP Loan Fraud Lawyers GALLIAN FIRM TODAY
If you are concerned about PPP Loan Fraud, one of the best things you can do is consult with an experienced and PPP defense lawyer, who knows the ins-and-outs of federal law and federal fraud law. When you feel confident that you are ready to proceed if you have been charged, hire a PPP defense criminal defense attorney. Once you do so, be prepared to ask questions to ensure you hire the right attorney.
Gallian Firm are the top PPP loan lawyers who have the experience and will provide an aggressive defense on your behalf. They will review your PPP Loan Fraud case for free and keep everything confidential. Reach out today to get started!
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