Heritage Hunt in Gainesville is among four local groups paying nearly $2.7 million to settle federal allegations of improper Paycheck Protection Program loans.
Three homeowners’ associations and a private club paid a combined $2,691,673 to settle allegations that they violated the False Claims Act and the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 by knowingly making false statements and certifications in their applications for Paycheck Protection Program loans, the U.S. Attorney’s Office in Alexandria said in a news release.
Congress created the PPP as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act to provide forgivable loans to qualified businesses to maintain payroll and operations during the COVID-19 pandemic.
Each PPP loan was calculated based on the applicant’s average monthly payroll and number of employees. Under the CARES Act, certain nonprofit entities were not eligible for PPP loans. According to Small Business Administration regulations, private clubs that limit the number of memberships for reasons other than capacity were also ineligible for PPP loans.
Heritage Hunt Homeowners Association, Inc., an age-restricted community, obtained a PPP loan of $397,600 in April 2020, the release said Heritage Hunt paid $425,000, of which $255,000 was restitution, to settle allegations “that it knowingly made, or knowingly caused to be made, false statements and certifications about its employee count, average monthly...
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