US DoJ BRINGS FIRST PAYROLL PROTECTION PROGRAM-RELATED CRIMINAL CASE

On 7 May, an article from Foley Hoag LLP reported that the DoJ had filed charges in the federal District Court of Rhode Island against 2 men for conspiracy to make a false statement and conspiracy to commit bank fraud in connection with loan applications made under the federal government’s Payroll Protection Program (PPP).  It is alleged that they misrepresented that they were seeking to use over $500,000 in PPP loans to pay wages to dozens of employees at 4 different business entities, but federal authorities discovered the loan applications were a sham.

https://www.jdsupra.com/legalnews/doj-brings-first-payroll-protection-67152/

 

 

 

If you’d like to help to contribute to the cost of the new laptop and desktop I have had to acquire, now that I am 5,000 miles away from my originals – https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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