Borrower Beware: First False Claims Act PPP Loan Fraud Settlement Signals More to Come
By EsqSocial Corporation 03/02/21
The Department of Justice (DOJ) entered into its first civil settlement for loan fraud involving the Paycheck Protection Program (PPP). On January 12, the U.S. Attorney’s Office for the Eastern District of California announced that Slidebelts, Inc. and its president and CEO, Brigham Taylor, agreed to pay $100,000 in damages and penalties to resolve civil fraud allegations for misrepresenting their bankruptcy to obtain a $350,000 PPP loan....
By: Troutman Pepper