Reporting Potential Small-Business PPP Loan Fraud
The Paycheck Protection Program (PPP) was enacted in the spring of 2020 in an attempt to lessen the financial damage sustained by businesses and workers as a result of the coronavirus (COVID-19) pandemic.
As designed, PPP provides “a direct incentive for small businesses to keep their workers on the payroll.” According to the Small Business Administration, all loans will be forgiven if “all employee retention criteria are met, and the funds are used for eligible expenses.”
“Eligible expenses” is the key phrase. Some businesses, brazenly or through the sleight of hand of their accountants, have gobbled up PPP money for ineligible expenses. Feeding at the trough of the American taxpayer is not only unethical, but it is also damaging to our friends and neighbors since there are limited funds available for PPP. People who need the funds most can be crowded out by companies engaging in fraud.
If doing the right thing is not enough of a motivator for you, there is cash involved.
Yes, cash. The government is willing to shell out greenbacks to whistleblowers who help them put a stop to PPP fraud. At Roberts & Harris PC, we have the experience, resources, and skills necessary to help whistleblowers navigate the process and emerge with financial compensation for their critical information.
What Is PPP Fraud?
Anything that misuses or misappropriates PPP funds is considered to be PPP fraud. Examples include providing false information on PPP loan applications, using PPP funds for ineligible expenses, and failing to abide by the terms and conditions of PPP. Trust your gut on this. If it seems like something is amiss, chances are something is. We can discuss your suspicions with you and help you determine whether coming forward with a whistleblower claim is in your best interest.
The Importance Of Reporting PPP Fraud
In a perfect world, we would all come forward every time we witness or become aware of wrongdoing. No one would look the other way and fraud would always be identified and punished. However, we do not live in a perfect world; we live in a world where coming forward can be a major pain in the rear end. It takes zero effort to do nothing while coming forward requires meeting with an attorney, sharing crucial information and potentially making yourself a target for retaliation in your workplace.
We understand why you may not want to come forward, but we do think it is worth it. Not only will you be compensated financially for helping expose PPP fraud, but you will also be able to rest easy at night knowing you have done the right thing and set a wonderful example for others. As a taxpaying citizen, you will also be protecting people like you from being taken advantage of. Whistleblowers are required to root out waste, fraud, and abuse in government programs and make sure taxpayer dollars are not being siphoned into the coffers of nefarious actors.
Steps For Reporting PPP Fraud
Step 1: Get in touch with our experienced whistleblower attorneys.
Step 2: We will take care of the rest.
Yes, it is that simple. You do not need to know how to navigate the legal process, how to fill out the forms, or anything else related to your case. You just need to have the courage to come forward and expose PPP fraud. We will answer your questions, take steps to protect your interests, and make sure you get the full financial reward you deserve for coming forward as a PPP whistleblower.