MERCER COUNTY, NJ - A manufacturer and distributor of fashion and leather products based in Mercer County has entered into a settlement agreement with the United States to resolve allegations that it violated the False Claims Act by improperly obtaining a Paycheck Protection Program loan, U.S. Attorney Robert Frazer said.
According to the contentions of the United States in the settlement agreement, Longchamp USA, Inc. applied for and received a $1,379,972 PPP loan in May 2021. Under the eligibility rules in effect at the time, businesses with more than 300 employees were not eligible for PPP loans, and applicants were instructed that the 300-employee limit applied to affiliates as well, including those with employees based outside the United States.
In its loan application, Longchamp certified it was eligible for the loan and employed no more than 300 employees. But the company was not eligible because, including its affiliates and their foreign employees, it had more than 300 employees, according to Frazer.
After receiving the loan, Longchamp sought and received forgiveness of the full amount, plus accrued interest. The United States also paid an associated lender processing fee of $41,399.
Longchamp fully cooperated in the investigation and resolution of the matter, according to the U.S. Attorney's office. Under the terms of the settlement agreement, the company paid the...
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