Defense Attorney Against Cares Act PPP Fraud Charges In New York

The COVID-19 pandemic has caused many changes throughout the economy. One major setback has been the tremendous impact that’s devastated businesses across the country. If your business has been accused of CARES Act PPP fraud, Norman Spencer is here to help fight for you.

Businesses that received funding under the CARES Act in New York and are now facing legal challenges should seek the assistance of a knowledgeable attorney. With so much uncertainty surrounding Paycheck Protection Program (PPP) forgiveness and repayment, this could lead to more trouble for your business in the future. Our firm has reliable federal criminal defense attorneys who understand how to defend PPP fraud cases in the CARES Act.

Our legal team can help business owners avoid Paycheck Protection Program fraud accusations and charges. At Norman Spencer, our attorneys have experience in fraud defense that are devoted to protecting businesses from wrongful accusations during a difficult time.

CARES Act During the COVID-19 Pandemic

Congress passed the CARES Act or the Coronavirus Aid, Relief, and Economic Security Act on March 27, 2020, as a response to the COVID-19 pandemic. This act provided over $2 trillion in economic relief, including economic payments for individuals. It also sought to provide job preservation through the Paycheck Protection Program by giving protection to small businesses that lost revenue due to state mandatory shutdowns.

Understanding the Paycheck Protection Program

The Paycheck Protection Program was set in place to help businesses that were adversely impacted by the pandemic. The funding program is managed by the Small Business Administration and offers eligible small businesses crucial funding for up to eight weeks. The strict requirements to the PPP loan include using the funds for the allowed expenses only and could not let any employees go or decrease wages for at least eight weeks.

Additionally, the SBA included conditions that would lead to a PPP loan being fully forgiven. There are specific guidelines for forgiveness, such as 75% of the amount of any funds forgiven must be money used for payroll expenses only. An attorney can be helpful with ensuring that a business can prove eligibility for forgiveness and meet all the requirements.

Government Investigations Fraudulent Cases

Unfortunately, due to fraudulent cases emerging, there are now government agencies cracking down on many small businesses that acquired PPP loans. Small business owners from across the country are being investigated by the Department of Justice, SBA, and other Congressional committees while they’re working to uncover fraud in businesses claiming nonexistent employees, inaccurate payroll statements, and usage of funds for unauthorized means.

Norman Spencer Will Fight For You

While these legal checks are in place for good reason, there are many businesses that do not deserve the scrutiny. When a small business applies for the CARES Act in good faith, we believe the business owners should not have to deal with pushback from the government. Moreover, we understand that fraud can happen by mistake because of complex and confusing rules. A good attorney understands and will help protect your interests.

Contact A Protection Program Loan Fraud Defense Lawyer

The Norman Spencer firm is here to help fight for you and your business. Contact us at (212) 461-1414‬ today for a consultation with a defense attorney and to learn how we can help.