Trusted Tampa PPP Loan Fraud Lawyer

Tampa PPP Loan Fraud Attorney

During the throes of the COVID-19 pandemic, the Paycheck Protection Program, or PPP, aided thousands of small businesses across the United States in staying open and being able to pay their employees. Now, many of these businesses are being investigated for fraud. Whether you own a restaurant in West Tampa or a cafe near Cuscaden Park, if you are being investigated for fraud, it is essential to speak with a Tampa PPP loan fraud lawyer as soon as possible.

The Kirlew Law Firm, PLLC: Here to Protect You

At The Kirlew Law Firm, PLLC, we have handled over 5,000 cases of criminal and white-collar crimes. Our team is passionate about criminal defense work and believes in a holistic approach to defense strategy. We work to be your tenacious advocates, leaving no stone unturned when it comes to protecting your rights and freedoms. At The Kirlew Law Firm, PLLC, we have built our careers on studious preparation, aggressive advocacy, and a commitment to our clients. 

Types of PPP Loan Fraud in Tampa

At the height of the COVID-19 pandemic, between 2020 and 2021, the U.S. Small Business Administration dispersed 689,432 Paycheck Protection Program loans in Florida. In the Tampa area alone, $6.9 billion was given in PPP loans during this time, and the city currently stands at number four among the largest cities in the U.S. that received PPP loan assistance. 

Thanks to the scope and the confusion behind the PPP loan program during this turbulent time, concerns have been raised in recent years regarding possible fraudulent behavior. In fact, a sizable percentage of PPP loans have been proven to have been fraudulently obtained. As a response, the Department of Justice has begun to implement large federal investigations into possible fraud.

In cases of PPP loans, the most common types of fraud include:

• Improper usage of funds. When an employer received funds as part of their PPP loan, they could only use these funds for certain things, like utility bills, rental payments, and employee benefits or payroll. If PPP loan funds were used for other reasons, especially in cases where it is proven that these funds were used for personal gain, then these actions could be considered fraudulent. 
• Loan stacking. This is the act of an applicant submitting PPP loan applications to multiple different lenders, in hopes that they will receive duplicate loans when, in fact, they are only truly eligible to have received one loan. 
• Material misrepresentation. Although the eligibility requirements for PPP loans are somewhat confusing, business owners were required to meet specific requirements in order to qualify for a PPP loan. If a business owner knowingly provided misleading or false information on their loan application, it is highly possible that this can count as PPP loan fraud. 
• Failure to cooperate with investigations. Should you refuse to cooperate with investigators, it could lead to a secondary fraud case. In these situations, the prosecutors do not need to prove fraud, necessarily, but rather only need to show that you refused to cooperate with any kind of investigation requirements, like document requests.

How an Attorney Can Help

Federal cases, like those involved in a PPP loan fraud case, work much differently than state cases, and it is essential to have an attorney on your side who understands this. At The Kirlew Law Firm, PLLC, we are here to take the following actions in your PPP loan fraud case:

• Launch a full investigation into your financial records and loan documentation
• Identify any oversights or inconsistencies that could have possible explanations and could allow you to avoid certain punishments
• Communicate on your behalf directly with investigators to take control of the narrative being spun about you and your business
• Work with financial professionals to back up your record of events
• Negotiate with federal prosecutors to prevent charges or seek alternative routes to prosecution. Knowing what to expect if you end up in federal court in Tampa, Florida can help ease some of that uncertainty.

FAQs

What Does It Cost to Hire a PPP Loan Fraud Lawyer?

To hire a PPP loan fraud lawyer, the costs can vary based on the exact nature of your case and the skill level, education, and experience of your attorney. You can also expect factors like the overall duration and complexity of your case to play a major role in the final cost analysis of your attorney. 

What Penalties Can You Face for PPP Loan Fraud?

Depending on the exact charge filed against you in a PPP loan fraud case, there are a number of penalties you can face. For example, based on the severity of your charge, if convicted, you could face decades of prison time, fines totaling hundreds of thousands and even up to one million, and damage done to your professional reputation. 

What Should I Do If Investigators Start Asking Questions?

If PPP loan investigators start asking questions regarding your previous loan, you need to contact a Tampa PPP loan fraud attorney as soon as possible. To help your attorney develop a strong defense, you should work to gather all relevant documents, let your employees know what is going on, and do not dispose of or destroy any possible evidence. 

Will PPP Loan Fraud Accusations Automatically Lead to Charges?

No, just because you have been accused of PPP loan fraud, it does not mean that you will automatically be charged with this crime or convicted. However, in order for this to happen, it is essential that you hire an attorney who can protect you against possible charges and convictions and who can develop a strategy of defense. Understanding the time limits for filing charges is another important aspect of building a solid defense.

Hire a PPP Loan Fraud Lawyer Today

If you or someone you know is facing allegations of PPP loan fraud, you need to hire a PPP loan fraud lawyer from The Kirlew Law Firm, PLLC right away. We focus on creating defense strategies for our clients that can work to protect their rights and the stability of their business. When facing allegations of PPP loan fraud, you deserve some peace of mind, and we are here to give that to you. We invite you to contact us today and schedule a free consultation.