Facing PPP Loan Fraud Charges? Contact a PPP Loan Fraud Defense Attorney in Tampa

On March 27, 2020, the U.S. federal government signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act into law — legislation designed to address the economic impact of the pandemic by providing relief to individuals and businesses. A centerpiece of this act was the Paycheck Protection Program (PPP) or a loan program intended to provide small businesses and independent contractors with eight weeks of cash-flow assistance through 100 percent federally guaranteed loans. Unfortunately, any program offering almost risk-free funding can expect to see individuals attempting to take advantage of said funding through fraudulent means and individuals facing wrongful charges and false accusations as a result. As of the start of September, the federal government had filed charges against 57 people for alleged crimes related to the Paycheck Protection Program. If your business is facing an investigation for PPP loan fraud or you are concerned about your risk for wrongful fraud charges, please contact a PPP loan fraud defense attorney in Tampa with The Rickman Law Firm as soon as possible. 

What is PPP Loan Fraud?

Although PPP loan fraud investigations are on the rise across America, there is no regulation or statute specifically prohibiting PPP fraud. Instead, the laws surrounding PPP loans fall under three major categories:

  • Fraudulent Use of PPP Funding: Funds obtained through a PPP loan may only be used for interest and rent payments, utility costs, insurance premiums, and payroll expenses. Using the funds you received for any improper or unapproved purpose is classified as a violation of the PPP loan program. 
  • Loan Certification Fraud: In addition to meeting eligibility requirements, businesses must make certain certifications, such as that the funds are only to be used for the allowed purposes and that the application and all supporting documents are accurate. Submitting a certification made in bad faith can be considered PPP loan fraud.
  • Application Fraud: Understating the number of employees, using another person’s identity, or otherwise making inaccurate statements on a PPP application may be considered PPP loan fraud. You also may not apply for PPP loans from multiple lenders. 

Any individual charged with PPP loan fraud has the potential to face serious civil and criminal penalties, which is why it’s critical to contact the PPP loan fraud defense attorneys in Tampa as soon as possible. 

What Charges Could You Face for PPP Loan Fraud?

Although there are several possible criminal charges that an individual involved in a PPP loan fraud case may face, some of the most common criminal charges include:

  • Bank Fraud
  • Tax Evasion
  • Wire Fraud
  • Aggravated Identity Theft
  • Conspiracy to Commit Fraud
  • Making False Statements to Federal Agents
  • Making False Statements to the Small Business Administration (SBA)

If you have been contacted by a federal agent regarding your PPP loan, you need to contact a PPP loan fraud defense attorney in Tampa before discussing any details regarding your PPP loan application, business, providing supporting documents, or business records. There have been countless individuals who have ended up being charged with obstruction or making a false statement to federal agents, in addition to PPP loan fraud, because they decided to speak with investigations without legal representation. 

Turn to the PPP Loan Fraud Defense Attorneys in Tampa

If you have been contacted regarding your PPP loan or are concerned about possible PPP loan fraud charges, it’s time to consider hiring the PPP loan fraud defense attorneys in Tampa with The Rickman Law Firm. Federal charges are incredibly serious, and attempting to tackle your case without aggressive legal representation is virtually impossible. Someone like the PPP loan fraud defense attorneys at our firm are your best bet of defending against allegations of PPP loan fraud as they actively represent clients in a broad range of legal issues related to the pandemic-related legislation. 

For a free consultation with an experienced PPP loan fraud defense attorney in Tampa, please contact The Rickman Law Firm at (813) 999-0502 or submit our contact request form.

Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.

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