The CARES Act created a record-setting $2.2 trillion in federal relief programs, including the Paycheck Protection Program (PPP) and other loan programs through the Small Business Administration (SBA). The loan programs were designed to support small business in retaining jobs through the pandemic, but PPP loan fraud appears to be widespread. From individuals applying on behalf of non-existent businesses, to companies falsifying payroll information, PPP loan fraud is a violation of federal law and an abuse of tax dollars.
Typically, employees of a bank processing PPP loans or companies accessing CARES Act loans are most likely to have inside information on PPP loan fraud. However, any individual who learns of PPP loan fraud or abuse may file a claim. You need not have full information on every aspect of the fraud; any indication these loans have been wrongly obtained or misused may be enough to start an investigation.
Persons who have information on PPP loan fraud contact our firm seeking clarification of the qualifications required to file a whistleblower lawsuit. Our law firm offers free, no-obligation, confidential PPP loan fraud case review to anyone who feels they may have a claim, but we have outlined the basic qualifications in this section. In general, these are factors that are considered in each PPP loan fraud case.
For persons who meet these qualifications, you may be eligible to file a whistleblower lawsuit for PPP loan fraud. There are multiple reasons to file a claim. First, whistleblower lawyers believe individuals who file claims may be eligible for significant compensation under the False Claims Act and similar laws in many states. More meaningful than that to some is the opportunity to bring PPP loan fraud to light, holding bad players accountable for abuse of this federal relief program.