SBA (Small Business Administration) has issued millions of loans to American businesses over the decades since its creation. During the coronavirus pandemic, there were a special group of loans issued based upon the uniqueness of that crisis. These loans were called Economic Injury Disaster Loans (EIDL) and approved to tens of thousands of businesses to help them fund their regular business expenses during the economic downturn that resulted from the pandemic.
The requirement of the SBA is that the loans be used strictly for business purposes. However, investigations are turning up evidence that these loans were used to purchase real estate, luxury cars and watches, jewelry and fund lavish vacations. If you are facing SBA fraud allegations or anticipate such an investigation, contact Brian Kirlew, Esq. today to discuss your options. Call us at (305) 521-0484 or contact us online
SBA loan fraud occurs when businesses or individuals obtain funds from the SBA for legitimate reasons, but then use the funds for unapproved expenditures. The loans are supposed to fund regular business operations like commercial lease payments, salaries, taxes, and operational costs associated with running a small business. The funds approved for EIDL loans were issued directly by the department of treasury and is repayable directly to the SBA.
The SBA also issues loans unrelated to the pandemic and has done so for many decades. To facilitate access to these funds, the SBA partners with several banks and lenders and doesn’t lend money directly. The SBA investigates these applications to see if there are material misrepresentations. These investigations often turn up as federal criminal offenses against the business owner. It is common to see individuals charged with wire fraud, money laundering and conspiracy relating to ill-gotten SBA loans.
Typical scenarios of SBA loan fraud include:
Each of these is a serious allegation in Miami and can result in federal charges, forfeiture of assets and prison time. There are also hefty fines, loss of professional licenses and being permanently denied access to banking services and credit. The accusations can also tarnish your personal and professional image, affecting future opportunities. It is crucial to seek expert assistance and protect your rights.
SBA loan frauds are taken seriously. Investigations are carried out by agencies like the FBI (Federal Bureau of Investigation), DOJ (Department of Justice), and OIG (Office of Inspector General). These extensive investigations involve financial audits, forensic accounting, and more. The inquiry begins with an audit analyzing the suspicious activity. If sufficient evidence can be found, the case is referred to federal prosecutors, and the defendant can encounter multiple charges with penalties designed to deter fraud and punish offenders.
The complexities and severe consequences of SBA loan fraud allegations necessitate the expertise of skilled defense attorneys. Since SBA loan fraud is subject to federal penalties, you need an expert attorney specializing in these cases to navigate the allegations and mitigate against potential consequences. Penalties might include up to 20 years of imprisonment per count charged, along with steep fines.
At Kirlew Law Firm, we have helped numerous clients in South Florida with our knowledge, strategic planning, and advocacy to obtain the best possible outcome in these cases. If you encounter any SBA loan fraud charges, we can offer comprehensive defense strategies, including:
SBA loan fraud charges can be overwhelming and complex. One of the possible defenses is to prove that the defendant didn’t intentionally provide false information to get the loan. Your lawyer may present evidence demonstrating there’s no intention to commit fraud. In every white-collar prosecution, it is essential for the defense to present a credible alternative theory to explain the government’s evidence.
You need a capable SBA loan fraud attorney because they can rightfully take you through the process and establish a robust defense. When you partner with us, we can provide the necessary support and guidance for fair treatment and vigorous representation. You will find The Kirlew Law Firm team standing by your side to help you make informed decisions at every stage of the case.
If you are facing SBA loan fraud charges, it is important to act quickly. Contact Brian Kirlew, Esq. and the Kirlew Law Firm today to schedule a consultation. Let us be your steadfast ally in this challenging time. Call (305) 521-0484 or contact us online
Antitrust laws were established to protect trade and commerce from abusive practices. Violations can include price-fixing, price discrimination, restraints, and monopolization.
This form of white-collar crime is increasingly common as more people use computers, phones, and other internet-enabled devices to commit acts of fraud, hacking, extortion, and theft.
Thieves take personal information to access banking and financial accounts, make purchases, open utility accounts, or steal tax refunds. In some cases, an identity thief may even use a false identity during an arrest.
This white-collar crime occurs when a thrift utilizes a stolen credit card or other information from that account to make unauthorized purchases. In some cases, they may use the stolen information to take out cash advances against the account.
The illicit selling of fake goods or services over the phone. Many phone scams are framed as a giveaway, or free offer in exchange for sensitive information, like access to banking or credit card accounts.
Often paired with another form of fraud, bankruptcy fraud can be the concealment of assets to prevent forfeiting them, filing incomplete or false forms, filing multiple times in different locations using fake or forged documents, and bribing of court-appointed trustees.
Largely committed by organized crime groups, this form of fraud includes performing unnecessary procedures to bill an insurance company, billing for services that were never rendered, and billing every step of one procedure as if they were individual procedures.
Environmental law makes actions like the illegal disposal of waste, improper storage of hazardous materials, or failure to comply with EPA and state regulations illegal.
An act committed to defraud an insurance company is considered a white-collar crime. This could include attempting to obtain benefits or advantages that an individual is not entitled to or when an insurer denies benefits that someone is due.
One of the most common forms of fraud, mail fraud is when the USPS or private carrier is used to commit a crime of deceit. This could be to obtain money or to sell and distribute illicit goods.
These forms of fraud start with a scheme to steal or obtain financial information by using false representation or promises of goods and services in return.
Crimes committed through extortion and coercion are considered racketeering. Generally, a racketeer obtains money or goods from someone using intimidation tactics or force.
Largely connected to federal government contracting or federally-funded programs, government fraud might involve public housing, agricultural programs, corporate subsidies, and bribery.
This form of white-collar crime is the deliberate failure to pay your taxes or the underpayment of the taxes you owe. It can be underreporting of income, overreporting of deductions, or improperly claiming tax credits and exemptions.
Also called investment fraud, securities fraud involves misrepresenting the information that investors use to make financial decisions.
This is the trading of the stock or securities of a public company that is based on non-public information about the company. This is the profiteering of information based on a company’s assets.
A bribe is the giving or receiving of something of value in order to influence the actions of another person or group.
The major focus of the FBI, public corruption covers a variety of crimes, including the violation of federal law by public officials, fraud related to the procurement, contracts, and funding of federal programs, and other crimes that are related to local, state, and federal governments.
By withholding assets, funds, or goods from an employer or business partner, you are committing an act of embezzlement.
Generally sponsored by foreign entities or outside corporations, economic espionage can target the U.S. government, U.S. companies, or other establishments and institutions. Economic espionage is the unlawful obtaining of financial information
Trade secrets are the information or assets that give a company an advantage over others in the market. The theft of these assets is when someone uses this information without consent of the business.
In almost every federal white-collar criminal investigation, the federal agents and local police officers involved in the case shadow their suspects for months and even years. They utilize wiretaps, subpoenaed bank records, videotape conversations and meetings, property and assets, business records, and cooperating witnesses. The agents often seek to make pre-indictment deals with codefendants or coworkers who they threaten to charge if they don’t talk.
The feds have unlimited resources and they are extremely patient in their investigations. Many times, an agent will get so committed to an investigation that they bend the rules, alleged they witnessed activity that they didn’t and innocent people get wrapped up in the conspiracy that they knew nothing about. This is why it is critical to contact a Miami white-collar attorney the moment you suspect you are the target of a white-collar criminal investigation. With the help of our investigators and forensic accountants, we can often mitigate the exposure a client may face in a white collar criminal prosecution.
Generally, white-collar crime is investigated and prosecuted by federal authorities. This means that white-collar crime cases have higher conviction rates than other crimes. Federal prosecutors are able to leverage more resources to pursue a white-collar crime case and are encouraged to close the case quickly.
The punishment for a white-collar crime varies based on what level the crime is being prosecuted at, whether state or federal, and the amount of money involved in the crime. There are no set guidelines that dictate the severity of penalty based on the amount of money stolen; however, generally, larger amounts are punished more severely.
Since the 2002 and 2008 financial crises, there have been more penalties and convictions for white-collar crimes, and as such, penalties have become more severe. On average, a sentence for money laundering is about 48 months in prison. Those convicted of bribery could face 16 months, and those for fraud, 12 months. Tax offenses generally result in 16 months of jail time. And if there are more than five victims, the loss amount is in the millions as opposed to the thousands or the accused qualifies for a host of other enhancements, these penalties can be significantly higher.
Given the harsh nature of the penalties for white-collar crimes and that federal authorities often lead these investigations, you must hire an attorney in Miami as soon as you’re convicted. In some cases, defendants are only aware of the investigation just a few weeks or months before an arrest is made. It’s important to use any lead time you may have to build a case with an attorney.
While your attorney can’t stop an investigation, they can work with you to defend your rights before, during, and after the trial. If nothing else, you must have a legal representative with you whenever you deal with a federal investigator or while you’re being questioned.
When you work with a skilled criminal defense attorney like those at the Kirlew Law Firm, they’ll maintain clear lines of communication with the prosecution throughout your investigation. This could lead to a favorable negotiation before any arrests are made, or the formal prosecution starts.
More than just negotiations, a competent white-collar crime attorney can help draft legal defenses that can help your case. Our attorneys can cross-examine witnesses, manage information about the case, and challenge physical exhibits and financial records that may be used to seal your case. Ultimately, a talented attorney like Brian Kirlew can find small inconsistencies or faults in the prosecution to bolster your defense.
If you are being investigated for a White Collar crime at the state or federal level (or both), the sooner you get a qualified attorney on your side to protect your rights, the better. Brian Kirlew, Esq. is experienced and skilled at handling these complex and sensitive matters, and is here to represent you in court. Our criminal defense attorneys in Miami are proud to offer you a free phone consultation to ensure that we can best serve you. Contact us immediately to get started.
