Who Can File a PPP Loan Fraud Case?

National CARES Act whistleblower attorneys provide information on who qualifies to file a qui tam lawsuit for PPP fraud

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.

• Existing PPP Loan: In order to qualify, the entity in question must have obtained a loan under the CARES Act, such as a PPP loan or a SBA EIDL loan. These programs were created and expanded by the CARES Act in March 2020 in response to the COVID-19 pandemic.
• Knowledge of Fraud: Some knowledge of active fraud is required to initiate a PPP loan fraud case. The person reporting PPP loan fraud need not have complete information about every aspect of the fraud, but must provide enough information to enable a legal team to investigate. PPP loan fraud may include false statements made on the loan application such as misrepresenting the number of employees, payroll expenses, or financial necessity. In other cases, the entire application is fraudulent, submitted on behalf of a non-existent company. If you have evidence of PPP loan fraud, you may be eligible to file a whistleblower claim.

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.

Attorneys offering free, no obligation PPP loan fraud case review are available to speak with you about your circumstances in confidence. To learn more about PPP loan fraud cases, please fill out the simple form on this page.