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Miami Criminal Defense Attorney / Miami PPP Fraud Attorney

Miami PPP Fraud Attorney

The Paycheck Protection Program (PPP) was established during the COVID pandemic to help struggling businesses. Many companies had to shut down once Americans were forced to shelter in place. Many of the companies that stayed open struggled. Therefore, the PPP was established. It was designed to be a federal loan program to provide financial assistance to small businesses so that they could keep their workers employed during the pandemic.

The PPP and COVID-19 Economic Injury Disaster Loan (COVID-19 EIDL) totaled more than $1 trillion and helped more than 10 million small businesses. However, many business owners took advantage of this program. They claimed to use the money for workers, but instead spent it on non-business purposes. If these business owners don’t have records of how they used this money, they could be in legal hot water.

The U.S. government has been actively investigating and prosecuting cases of PPP fraud to ensure that the program’s funds are used appropriately to support small businesses and their employees during the pandemic. They are looking for fraud indicators such as:

  • No wage data
  • Differing payroll costs
  • Different employee totals
  • Reused information
  • Receipt of multiple loans

PPP fraud is considered a serious offense. If you have been accused of this crime, contact Asilia Law Firm today. We are skilled in defending the legal rights of individuals facing serious criminal charges. Contact our Miami PPP fraud attorney today to schedule a consultation.

Types of PPP Fraud

PPP fraud can take various forms, including:

  • False information. Many company owners provided false information or made false statements on PPP loan applications in order to obtain funds.
  • Misuse of funds. PPP loan funds were to be used for business purposes, specifically employee wages. However, many used the money for unauthorized purposes, such as personal expenses unrelated to the business or expenses not permitted under the program guidelines.
  • Falsifying payroll records. Many business owners provided inaccurate or falsified payroll records to qualify for a larger loan amount.
  • Identity theft. Submitting PPP loan applications using stolen identities or the identities of non-existent businesses is considered identity theft.
  • Overstating the number of employees. Many business owners inflated the number of employees or exaggerated payroll expenses to qualify for a larger loan amount.
  • Submitting multiple applications. Submitting multiple applications for PPP loans under different business names or using different identities is considered fraud. Only one application per business is allowed.
  • This refers to working with insiders or third parties to fraudulently obtain PPP loans.

Contact Asilia Law Firm Today

PPP fraud is often a felony crime. You could face not only criminal charges, but also prison time, civil penalties, and restitution of the stolen funds.

Asilia Law Firm can assist you if you have been charged with fraud. A Miami PPP fraud attorney can help you get the justice you deserve. Start by scheduling a free consultation today. Call (786) 420-3014 or fill out the online form.

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