Are You Being Investigated For PPP Loan Fraud In Miami By The DOJ? We Can Help

ppp loan fraud in Miami

If you are under investigation for PPP loan fraud in Miami, you need legal counsel right away. Our team of fraud defense attorneys can help.

What is the PPP?

The Paycheck Protection Program, or PPP, was established in 2020 as part of the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act. It was designed to encourage businesses to keep their workers employed during the COVID-19 pandemic. While the financial strains of shutdowns forced some businesses to close their doors, many applied for and received government funds through the PPP. This relief effort provided small businesses with approximately $800 billion in uncollateralized, low-interest loans from April 3, 2020, through May 31, 2021.

Potential For Mistakes

Because the need for funds was so great, the PPP application process was fast-tracked to allow businesses to get their funding faster. This resulted in looser fraud controls and the higher potential for more mistakes to be made. Because there was a great deal of potential fraud with this program, the Department of Justice established a special division to investigate PPP loans.

Department of Justice Investigation

In March of 2022, the DOJ announced a Director for COVID-19 Fraud Enforcement. His job is to lead a team of investigators and prosecutors in an effort to recover funds from people and businesses that were awarded PPP funds under false pretenses or used their funds for luxury items instead of using them to help their businesses and their employees. 

These investigations can result in either criminal charges or civil charges. To date, over 1,000 defendants are facing criminal charges, and over 240 defendants are facing civil charges. And the investigations are ongoing.

What To Do If You Are Under Investigationppp loan fraud in Miami

As the DOJ investigates Paycheck Protection Program fraud, it can be difficult for investigators to differentiate between a borrower who intended to commit fraud and someone who had good intentions but inadvertently failed to comply with the rules associated with this fast-tracked relief program. 

If you have received a notice that you are under investigation for PPP loan fraud in Miami, it is crucial that you consult with an attorney right away.

At Casais & Prias, we are well-versed in the CARES Act, the Paycheck Protection Program, and the Economic Injury Disaster Loan Program, so we can help you navigate through your investigation. We can help determine if you complied sufficiently with the application process. We can also assess your potential financial exposure and, if needed, address that exposure.

Be Proactive

If you are under investigation for PPP loan fraud in Miami, you cannot afford to wait and see what the government will do next. You have a better chance of a favorable outcome if you are proactive and have an experienced fraud attorney on your side.

At Casais & Prias, not only is our team knowledgeable about all aspects of fraud defense, our managing partner is a former IRS agent. His experience with this government agency gives him special insight into how to properly defend you against any charges you may be facing related to PPP loan fraud in Miami.

If you have received notice that you are under investigation, or if you have any concerns about your PPP loan, contact us right away. We will discuss your situation and determine what the best course of action needs to be. Your first consultation is free so contact us today.

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