Continental Aerospace Technologies Inc. has agreed to pay $11,772,680.14 to resolve allegations that it violated the False Claims Act by submitting false claims to obtain a Paycheck Protection Program (PPP) loan for which it was not eligible.
“PPP loans were intended to help small businesses in the United States,” said Assistant Attorney General Brett A. Shumate of the Justice Department’s Civil Division. “The Department remains committed to pursuing those who violated the requirements of this taxpayer funded program.”
“PPP loans were meant to help small American businesses survive the economic turmoil caused by the pandemic. Continental, however, was part of a large Chinese-owned corporation and allegedly provided false information to the SBA to obtain taxpayer funds to which it was not entitled,” said First Assistant U.S. Attorney Brad Schimel for the Eastern District of Wisconsin. “This matter is just one of many cases in which our office continues to hold corporations, particularly those owned by a foreign government, accountable when they submit false claims to obtain American taxpayer money.”
“This settlement demonstrates our office’s steadfast commitment to relentlessly investigating and resolving fraud against American taxpayers,” said U.S. Attorney Sean P. Costello for the Southern District of Alabama. “It also reflects the effectiveness of our collaborative False Claims Act investigations in holding companies and individuals accountable for fraudulent conduct...
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