PPP Loan Fraud

PPP Loan Fraud Attorneys in Miami

South Florida is the epicenter of PPP loan fraud investigations and prosecutions. The term PPP loan fraud can include several white collar crimes, including conspiracy, wire fraud, and money laundering.

At The Kirlew Law Firm, we have vast experience in PPP loan fraud investigations and prosecutions. As a leading PPP fraud defense attorney in Miami, we provide strategic and aggressive defense representation. We have successfully defended numerous local businessmen and accountants in PPP loan fraud cases. If you’re being investigated for PPP loan fraud, you must immediately retain legal counsel and safeguard your rights.

Defining PPP Loans

PPP, or the Paycheck Protection Program, was established during the COVID-19 pandemic to support eligible small businesses. PPP loans were much-needed financial aid issued by SBA-approved financial institutions and established under the CARES (Coronavirus Aid, Relief, and Economic Security) Act in March 2020.

Sole proprietors/ self-employed/ non-profits, etc., with no more than 300 to 500 employees and a 25% or greater reduction in gross receipts, were considered qualified to utilize the funding for authorized use, including employee payroll, utility bills, and more.

These were forgivable loans so businesses could sustain their essential operations during the pandemic. After exhausting all funding, the program ended in May 2021. However, existing borrowers are still eligible for loan forgiveness until maturity.

What is PPP Loan Fraud?

Shortly after the pandemic began to wind down, the IRS and FBI ramped up their audits of PPP loan approvals, and numerous PPP loan recipients were subjected to fraud investigations. Today, the federal government is aggressively evaluating PPP loan fraud cases. The statute of limitations was recently lengthened to 10 years instead of the normal 5 years statute of limitations for fraud related offenses.

Several businesses are facing serious accusations categorized under white-collar crimes. You can be investigated for fraud if you’ve intentionally or unintentionally misused your loan fund. We have seen hundreds of otherwise innocent individuals face grand jury subpoenas or target letters from the federal government for unknowingly being involved in a PPP loan fraud.

Investigators scrutinize each case meticulously, and those convicted face imprisonment and forfeiture of their assets (including their primary home). The SBA has also recently announced that it plans to audit all PPP loans above $2 million and some smaller loans. An experienced Miami PPP loan fraud attorney like Brian Kirlew, Esq. can help you determine path forward.

Charges for PPP Loan Fraud

PPL loan fraud indictments often included the accompanying charges of wire and bank fraud, mail fraud, money laundering, false statements, etc. Understanding this complex landscape is essential for the correct defense.

Bank fraud charges, for instance, involve deceiving financial institutions. Penalties can go up to 30 years of imprisonment and $1 million in fines.

Potential penalties for wire fraud can reach 20 years of federal imprisonment. Money laundering charges carry the same 20-year prison sentence, and the prosecution needs to establish that the funds were obtained from illegitimate business sources.

A conviction will lead to imprisonment, forfeiture of assets, fines and supervision in addition to becoming a convicted felon. Beyond legal challenges, it can cause long-lasting damage to your personal and professional reputation. Banks won’t do business with you in the future and it will be nearly impossible to obtain professional licenses or permits.

Who Can Be Charged with PPP Loan Fraud?

PPP loan fraud charges often target a broad and varied group of individuals and businesses. Upon a closer look, small business owners, entrepreneurs, dental practices, restaurant owners, brokers, consultants, financial officers, and accountants are the frequent targets of the federal government.

The Kirlew Law Firm Can Help

The Kirlew Law Firm is recognized for its exceptional experience in fighting white-collar crimes. We offer strategic advice and unwavering dedication to every case. Thousands of clients have chosen us to fight for their rights. Our approach to PPP loan fraud defense include:

• In-depth analysis of your case
• Tailored defense strategies to fit specifics circumstances
• Negotiating with prosecutors seeking favorable outcomes
• Aggressive representation in court
• Keeping you informed and offering comprehensive legal support
• Personalized attention and clear communication
• A vigorous defense before a jury if you elect to proceed to trial

The stakes are high. Your livelihood, freedom, and reputation may be at risk. But we can help you navigate these uncharted waters and make sense of these complicated cases.

Your Defense Starts Here!

Do not face PPP loan fraud accusations with an experienced lawyer. Brian Kirlew, Esq. and the staff at the Kirlew Law Firm are ready to assist you in your defense. Contact us at (305) 521-0484 for expert legal assistance with PPP loan fraud defense. We can be your steadfast allies, dedicated to achieving the best possible outcome for your case. Get started now!