COVID-19 — Paycheck Protection Program (PPP) Loan Fraud Attorney
Are you a Florida business owner who received a Paycheck Protection Program (PPP) Loan and are now concerned about PPP loan fraud? You’re not alone. Hundreds of Florida business owners are now facing the enormous stress of federal prosecution of PPP loan fraud. If you received a PPP loan and are currently being investigated for loan fraud by the federal government, it’s crucial that you retain legal counsel as soon as possible.
The OA Law Firm has dedicated attorneys ready to fight for small business owners like you. We offer sound legal advice on the best ways to mitigate your risk, and can answer any PPP loan questions you might have. For a confidential discussion with one of our attorneys, contact us online today, or call 813-461-5291 now.
What is the Paycheck Protection Program (PPP) Loan?
On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law by congress. The CARES Act was created to provide much needed financial help to small businesses and individuals affected by the coronavirus pandemic. In particular, the Paycheck Protection Program (PPP) was intended to provide financial relief to small and medium-sized companies.
Despite being allocated $659 billion in federal funds, the Paycheck Protection Program maxed out almost immediately, due to the unprecedented number of applications participating lenders received. As a result of this demand, many eligible businesses found themselves unable to obtain a PPP loan, leading to much outrage and controversy.
Naturally, whenever the government creates a federal program that provides financial relief to businesses or consumers, there is significant concern regarding fraud. Similarly, due to the unique circumstances in which PPP loans were received — and the astounding rate at which the accessible funds were depleted — many companies who applied for and received PPP loans are now facing intense scrutiny from federal authorities.
If you’re a business owner who received a PPP loan and is now concerned about an investigation by the federal government, speak confidentially to a PPP loan fraud attorney in the Tampa area today. We can discuss your case and determine the best course of action for your individual situation.
Who is at Risk of Prosecution for PPP Loan Fraud?
Although millions of businesses initially welcomed the PPP loan funds they were given under the SBA Paycheck Protection Program, many are now realizing that they were not eligible to receive them in the first place. Unfortunately, details of the SBA’s Safe Harbor Period in which businesses can return their loan funds without penalty, have been convoluted and challenging to understand. In addition, the Safe Harbor Period was ended on May 14, 2020, before many businesses could make sense of it. This means that if your business applied for a PPP loan, and you now think you may not have been eligible, it’s no longer possible to take advantage of the SBA’s Safe Harbor Period.
Consequently, companies that are determined to have been ineligible to receive PPP loan funds may now be subject to investigation by the federal government. Business owners who are found guilty of defrauding the U.S. government can face substantial financial consequences under the False Claims Act. Therefore it’s crucial that you seek the advice of an experienced Florida PPP loan fraud attorney immediately if you believe you may be at risk of prosecution. Seeking experienced legal counsel promptly could help you avoid severe legal consequences and successfully mitigate your prosecution risk.
Why You Should Choose OA Law Firm Paycheck Protection Program (PPP) Loan Fraud Attorney
Omar Abdelghanyis an experienced criminal defense attorney serving the Tampa Bay and surrounding area. During his time serving as a trial attorney at the Palm Beach Public Defender’s office, Omar gained extensive knowledge of the U.S. court system that has proved invaluable when building a strategic defense for his clients.
From your very first consultation, Omar will take the time to understand your concerns and answer any questions you might have about PPP Loan Fraud. With an unparalleled commitment to protecting small businesses’ legal rights, OA Law Firm strives to ensure that the best possible outcome is achieved in each and every case.
If your business received PPP loan funds and the federal government is currently investigating your eligibility, or how you used the funds, you should seek legal advice immediately. OA Law Firm has experienced attorneys ready to provide you with prompt legal advice when you need it most. For a free discussion with a Paycheck Protection Program attorney in the Tampa area, call 813-461-5291 now, or contact us online.