YAPP USA Automotive Systems agreed to pay $14.2 million to resolve allegations that it violated the False Claims Act by submitting false claims to obtain a Paycheck Protection Program loan for which it was not eligible, the Justice Department announced Wednesday.
According to the DOJ, in applying for a first-draw PPP loan, YAPP USA represented that it was eligible for the PPP, and it received a first-draw PPP loan in the amount of $9.5 million, which was later forgiven. However, YAPP USA was not eligible for a loan because it employed more individuals than permitted to qualify. The DOJ ...
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