How The Federal Government Is Targeting SBA Loan Fraud

Due to COVID-19, the government has given out PPP or other SBA loans to help small businesses. The counter effect to this action is various accounts of loan fraud happening. This is a very serious issue if accused, charged, or convicted and is imperative to take care of with the help of the right attorney.

The four primary types of criminal-related offenses that may be brought against you include the following:

  • Wire Fraud

  • Bank Fraud

  • False Statements to a Financial Institution

  • Conspiracy to Commit Fraud

Because these and similar offenses are primarily federal-related, you could be facing a large case with substantial forces behind the prosecution.

The government and DOJ has previously said that they are taking action against a group of people involved with $175 million in alleged fraud related to SBA and PPP loans. They have also identified about 550 individuals who also may be involved in defrauding the $660 Billion dollar program.

Other entities and people are involved like the SBA Office of Inspector General, the Special Inspector General for Pandemic Recovery, and the U.S. Attorney’s Office in the Eastern District of Virginia among other persons.

Charged With Loan Fraud

If you have been accused of PPP or SBA loan fraud, we may be able to help. Here at Law Office of Patrick J. McLain, PLLC, we have the skills, experience, and determination to help get you a favorable outcome for your case.

We have handled countless criminal defense cases and know how to navigate the legal system. When you need someone who you can trust to help defend your rights and freedom, rest assured Law Office of Patrick J. McLain, PLLC is here for you. You can reach us at (214) 238-9392 or contact us through our website today.

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