More than 11.4 million forgivable loans worth nearly $800 billion were granted to small businesses impacted by the pandemic through the Paycheck Protection Program (PPP). Unfortunately, the PPP has also been subject to widespread abuse.
As of Dec. 15, 2021, the Department of Justice’s Fraud Section has prosecuted over 150 defendants in more than 95 criminal cases and has seized over $75 million in cash proceeds allegedly derived from fraudulently obtained PPP funds, as well as real estate properties and luxury items purchased with such proceeds.
We expect the government to continue prioritizing PPP fraud and see three key enforcement areas to watch in 2022. Some best practices can help prepare for any possible government audits or investigations into alleged PPP fraud.
In 2021, the DOJ brought numerous criminal PPP fraud actions against borrowers based on alleged egregious conduct, such as falsifying employee and payroll information and using loan proceeds for personal expenses. The DOJ also brought five civil PPP actions under the False Claims Act (FCA), including for alleged false certifications...
Al Jazeera Media Network condemns the Israeli occupation army’s baseless accusations, which seek to justify its crimes against Al Jazeera journalists and cameramen in Gaza, most recently the killi...