Miami Federal Loan Fraud Lawyer
Accused of PPP Loan Fraud or CARES Act Fraud in FL?
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was created to address the economic collapse caused by the COVID-19 pandemic.
One of the provisions of this act is the Paycheck Protection Program (PPP), which allocates $669 billion (originally $349 billion) in loans to small businesses with fewer than 500 employees to cover employee wages, mortgage/rent, utilities, and other business-related costs and even forgive these debts.
However, there have been recent reports of large corporations receiving these funds – and subsequently returning them after public backlash – or individuals and businesses using these funds for other means.
Since the federal government is committed to investigating and prosecuting individuals accused of PPP loan fraud, it is important to hire an experienced federal defense lawyer. At The Law Office of Joel DeFabio, we are ready to protect your rights and freedom for federal loan fraud allegations.
Federal Loan Fraud Laws & Penalties
Federal loan fraud occurs when someone intentionally gains – or attempts to gain – funds through a federal program. When it comes to PPP loan fraud, common examples include falsely claiming your business has fewer than 500 workers, inflating your business’ average monthly payroll, and falsely claiming the loan money will go toward business operations.
As part of the CARES Act, the Office of the Special Inspector General for Pandemic Recovery (SIGPR) was created to investigate fraud allegations and refer offenders to the Justice Department for prosecution. PPP loan fraud is a federal offense, according to the Small Business Act (SBA).
Making false statements or overvaluing securities is a felony, punishable by a maximum federal prison term of two years and a fine not exceeding $5,000. Embezzlement is a felony that carries a federal prison sentence of up to two years and a maximum fine of $10,000.
Ready to Fight for You Immediately
Whether you had no intention to defraud the federal government or the SBA office made an error, our firm is dedicated to proving your innocence against false allegations. Let us review your case and determine your available legal options.
Call us today at Phone to learn more about our experienced federal crime lawyer.
Joel was especially great. I was able to meet with him when I needed to and he called me all the time to give me an update. Really professional lawyer and team.- Emilia
I was represented by Mr. Joel DeFabio, and I am very satisfied with the courtesy and professionalism he provided. He is a very sensitive, clever and resourceful attorney. The staff is excellent as well. I am glad I found them. Excellent team in general, I highly recommend them.- Hilario
It was a pleasure working with Mr. DeFabio and his legal team. Remarkable work ethic and superior legal knowledge. It was a very pleasant experience having them on my team.- Former Client
CHARGES DISMISSED Aggravated Identity Theft
CHARGES DISMISSED Assault of a Federal Officer
ALL CHARGES WERE DISMISSED Charged with refusing to comply
NOT GUILTY Conspiracy
CHARGES DISMISSED Conspiracy to Commit Bank Fraud
NO JAIL Conspiracy to Commit Fraud