The CARES Act, the largest economic stimulus package in American history, created $2.2 trillion in relief to bolster the American economy against COVID-19 losses. Included in that sum were hundreds of billions of dollars earmarked to support workers and help small businesses retain jobs through low-interest and forgivable loans. Due to the huge sums of money available and a rapid and disorganized disbursement process, CARES Act relief programs opened the door to abuse and fraud.
CARES Act small business relief includes the new Paycheck Protection Program (PPP), as well as the expansion of existing Economic Injury Distance Loans (EIDL) and other Small Business Association (SBA) loans. Many entities obtained PPP loans and SBA funding fraudulently, by making false claims regarding PPP loan qualification or necessity. From fabricating false companies to inaccurately representing the number of workers employed, PPP fraud is a serious abuse of federal relief funds that has resulted in billions of wasted tax dollars.
SBA loan fraud would remain unchecked if not for the brave actions of individual citizens known as PPP whistleblowers. The federal False Claims Act (FCA) gives individuals the power to report PPP fraud through qui tam lawsuits, providing multiple protections from retaliation as well as significant cash rewards in successful PPP fraud cases. Many states offer similar whistleblower protections for PPP fraud reports. CARES Act fraud whistleblowers can help the government recover billions of dollars in taxpayer dollars and may receive a significant cash reward.
Any person with inside information may bring the abuse of federal funds to light through filing a PPP loan fraud lawsuit. Whether you work for a bank and have observed fraudulent PPP loan practices, or your employer has misused CARES Act funds and warned you to keep quiet, you will be protected from retaliation by whistleblower laws. Our firm is proud to support the efforts of individuals who blow the whistle on PPP loan fraud by providing CARES Act whistleblower lawsuit representation. Our role as PPP fraud attorneys is to ensure whistleblowers receive full protections and maximum compensation allowable by federal and state law.