YOU MAY HAVE SEEN TODD SPODEK ON THE NETFLIX SHOW INVENTING ANNA
When you’re facing a federal issue, you need an attorney whose going to be available 24/7 to help you get the results and outcome you need. The value of working with the Spodek Law Group is that we treat each and every client like a member of our family.
Colorado Springs PPP and EIDL Loan Fraud Lawyers
As the world faced the devastating impacts of the COVID-19 pandemic, the Paycheck Protection Program (PPP) was created under the Coronavirus Aid, Relief, and Economic Security (CARES) Act to provide urgent financial relief to American businesses. Congress authorized over $950 billion in forgivable loans to help small businesses maintain their workforce, have access to working capital, and keep operations running normally.
However, as the government distributed these crucial funds, it soon became apparent that a significant portion had been obtained fraudulently by parties who wouldn’t otherwise qualify for a loan. In response, federal agencies and departments have launched a vigorous campaign to investigate and prosecute allegations of PPP loan fraud, dedicating entire sections of the Department of Justice to these efforts.
If you or your business is facing charges of PPP loan fraud, the stakes are high. Penalties for conviction can include severe fines, home detention, community confinement, paying the cost of prosecution, forfeitures, restitution, supervised release, and lengthy imprisonment. For immigrants, the consequences of a fraud conviction can be particularly dire, as fraud involving more than $10,000 is an aggravated felony and a crime involving moral turpitude, making non-citizens vulnerable to deportation.
At our law firm, we understand the gravity of the situation and are prepared to fiercely defend you against any allegations of fraud. Our team of criminal defense lawyers will gather all necessary information, including evidence the government has against you, to review whether you have a strong defense. We will work to negotiate a resolution that doesn’t involve formal criminal charges, and if charges have already been brought against you, we will aggressively defend you at trial.
If you are looking for a lawyer that listens, is aggressive where needed, and holds his word above all else, Todd is the best pick. I had hired multiple attorneys prior to hiring the Spodek Group for a white collar case. The first thing that stood out to me was the cost, as anyone going through the process and dealing with the system, money was tight at that time - especially after hiring and firing multiple lawyers. The cost was not as high as others which was definitely a plus. Todd's intake process was also unlike other attorneys. He took the time to actually listen. He cared. He was trying to put himself in my shoes while I was explaining the situation to him and he really took the time to understand the whole situation. Other lawyers will give you 15 mins and send you a retainer agreement. Not Todd, I think he spent almost two hours with me as I was explaining everything.Not only was he great during the onboarding process, he was supportive and very informative through the entire plea process and eventually sentencing. After hiring him, I asked if I should hire a prison consultant, he told me to save my money as he would do everything they would. He was right and held up to his word. Later on I would hear from others that went with the prison consultants that they were a waste of money - I am glad I listened to Todd!When it came time for sentencing, two days prior to sentencing, the prosecutor tried increasing my proposed prison time by almost double - apparently a normal move. Todd and his team worked with me non-stop through the weekend prior to sentencing to ensure that I was not given additional prison time. Again, he took the time to listen and came up with a strategy to explain the case with great detail.Unfortunately, I did plead guilty as that was my best option. Todd and his whole team wrote up nearly 300 pages of a summary of what happened and why I should not be given prison time. If I breakdown the amount I spent with Todd versus the amount of work that I saw being done, I am shocked I was not charged four times as much. The other benefit was, a lot of criminal defense lawyers were just a single attorney with a paralegal or two. Todd had a team of people that I dealt with (5-7 people that I interacted with), but he was ALWAYS accessible. It would never take him more than an hour to reply unless he was in court.I was sentenced to prison and I was emotionally distraught. Todd and his team did whatever they could even after sentencing to make sure I was alright. He personally stayed in touch with my family to ensure I was doing alright and offered support to them. Most lawyers would consider the job complete at sentencing, not Todd.After prison, Todd still spent time with me to make sure I was on the right track and avoiding any potential risks in the future. He has also been giving advice on how to navigate probation etc and has not been looking at the clock for billing.Although I wish I had never been arrested in the first place, I am glad I had Todd and his team in my corner. Without them I likely would have had to spend a lot more time in prison than I did.Thank you, Todd, and the entire Spodek Law team, for helping turn what was a nightmare into a manageable situation!
I am immensely grateful to the entire team at Spodek Law Group for their unwavering dedication and exceptional expertise throughout my case. From our initial consultation to the final resolution, their professionalism and tireless advocacy made all the difference. Their strategic approach and attention to detail instilled confidence in me every step of the way.Thanks to their hard work and commitment, we achieved a truly favorable outcome that exceeded my expectations. Not only did they navigate the complexities of my case with precision, but they also provided invaluable support and guidance during what was undoubtedly a challenging time. I cannot recommend Spodek Law Group highly enough, especially attorneys Todd Spodek and Claire Banks; they are beacons of excellence in the legal profession.YSP.
Todd, Ralph and Alex are amazing. Helped my husband get from a double digit number with multiple charges to a single digit, by the time I blink he will be out. They very professional and help with all your needs. They dealt with my anxiety and worry very well and they understand that your family member needs to get home as soon as possible.
Believe every single review here about Alex Z!! From our initial consultation, it was evident that Alex possessed a profound understanding of criminal law and a fierce dedication to his clients rights. Throughout the entirety of my case, Alex exhibited unparalleled professionalism and unwavering commitment. What sets Alex apart is not only his legal expertise but also his genuine compassion for his clients. He took the time to thoroughly explain my case, alleviating any concerns I had along the way. His exact words were “I’m not worried about it”. His unwavering support and guidance were invaluable throughout the entire process. I am immensely grateful for Alex's exceptional legal representation and wholeheartedly recommend his services to anyone in need of a skilled criminal defense attorney. Alex Z is not just a lawyer; he is a beacon of hope for those navigating the complexities of the legal system. If you find yourself in need of a dedicated and competent legal advocate, look no further than Alex Z.
I don’t know where to start, I can write a novel about this firm, but one thing I will say is that having my best interest was their main priority since the beginning of my case which was back in Winter 2019. Miss Claire Banks, one of the best Attorneys in the firm represented me very well and was very professional, respectful, and truthful. Not once did she leave me in the dark, in fact she presented all options and routes that could possibly be considered for my case and she reinsured me that no matter what I decided to do, her and the team will have my back and that’s exactly what happened. Not only will I be liberated from this case, also, I will enjoy my freedom and continue to be a mother to my first born son and will have no restrictions with accomplishing my goals in life. Now that’s what I call victory!! I thank the Lord, My mother, Claire, and the Spodek team for standing by me and fighting with me. Words can’t describe how grateful I am to have the opportunity to work with this team. I’m very satisfied, very pleased with their performance, their hard work, and their diligence.Thank you team!
I recently had Spodek Law Group represent me for a legal matter in NYC and I am thoroughly impressed with their services.Alex Zhik secured the best possible outcome for my case.It was a seamless journey from the initial consultation to the resolution of my legal matter. From the moment I spoke to Todd about my case, his enthusiasm to help was evident, setting a positive tone for the entire experience. The efficiency and professionalism displayed by the team is commendable.A particularly noteworthy aspect of their service is their user-friendly portal to upload your documents/evidence. This not only simplified the process, but showcases their commitment to streamline the client experience.Lastly, in an industry where legal fees can often be a concern, I found their pricing to be very reasonable, making needing legal assistance feel accessible and stress-free.I am grateful for their support and wouldn't hesitate to turn to them again in the future.
Examples of PPP loan fraud include loan application fraud, loan stacking, fraudulent loan certification, using funds for ineligible purposes, and concealing or misrepresenting information during audit. These acts and omissions can result in charges such as making a false statement, bank fraud, and wire fraud, all of which carry significant penalties.
Don’t let PPP loan fraud allegations ruin your life and business. Contact our law firm immediately and let us use our knowledge and experience to fight for your rights and future.
Colorado Springs PPP and EIDL Loan Fraud Lawyers
The Paycheck Protection Program (PPP) loan fraud is a federal crime that occurs when a business falsely obtains funds through the CARES Act. Designed to provide relief for small businesses affected by the COVID-19 pandemic, the PPP loan program offers eligible companies up to $10 million to cover essential expenses such as payroll, rent, and utilities for eight weeks. However, those who cheat the Small Business Administration (SBA) out of this crucial stimulus money by providing false information or overvaluing securities face severe penalties, including potential prison time, fines, and repayment of the loan.
While the PPP loan program was intended to provide much-needed support for small businesses, the lack of proper controls and regulations has led to widespread fraud and abuse. The SBA’s Office of Inspector General has issued multiple reports detailing the vulnerability of the program to fraud, with approximately 60% of loans reviewed found to have “eligibility problems.”
Faced with PPP loan fraud charges, defendants may argue that they had no intent to defraud or that the SBA made a mistake in their application. However, it is crucial for business owners to keep accurate records of all communications, bank statements, and receipts to prove their innocence in the event of a false accusation.
The potential immigration consequences of PPP loan fraud cannot be overlooked. As a crime involving moral turpitude and fraud involving more than $10,000 is considered an aggravated felony, non-citizens convicted of CARES Act fraud may be at risk of deportation. It is essential for those facing criminal charges to consult with a criminal defense attorney as soon as possible to explore their options and potentially have the charges reduced or dismissed.
In short, the PPP loan program is a vital lifeline for small businesses affected by the COVID-19 pandemic. However, those who choose to cheat the system by committing fraud risk severe penalties, including potential prison time, fines, and deportation. Business owners must be vigilant and keep accurate records to protect themselves from false accusations and to avoid the severe consequences of PPP loan fraud.
The Paycheck Protection Program (PPP) loan fraud is a grave offense that involves obtaining money through false pretenses through the CARES Act. As of April 2020, small businesses affected by COVID-19 and with fewer than 500 full-time employees were eligible to obtain up to $10 million to cover expenses such as payroll, mortgages, rent, and utilities for eight weeks. And the government would forgive the debt if the money went towards these “qualified expenses.”
Cheating the Small Business Administration (SBA) out of this stimulus money is a federal felony that carries potential prison time, fines, and repayment of the loan. It’s a federal crime under the Small Business Act, and the sentence depends on the specific offense. Common defenses for people facing PPP loan fraud charges are that either the defendant had no intent to defraud or the SBA made a mistake.
However, it’s essential to note that in most cases, federal criminal records are unsealable, and the immigration consequences of fraud involving more than $10,000 are severe. It’s an aggravated felony, and a crime involving moral turpitude. Therefore, non-citizens convicted of CARES Act fraud are vulnerable to deportation.
The Paycheck Protection Program was created as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was signed into law on March 27, 2020. The PPP offered businesses up to $2 million in loans, with no interest or principal due for the first 12 months. The loans were guaranteed by the U.S. Small Business Administration (SBA) and were to be used for payroll, rent, utilities and other essential expenses.
The program was immensely popular, with lenders flooded with applications as soon as the program opened, and with an initial $350 billion endowment, the PPP effectively ran out of funding within minutes. Congress authorized an additional $310 billion for the program one month later, but it was also quickly tapped out. With little regulation in place, accusations of fraud soon followed.
To date, the SBA’s Office of Inspector General has issued 11 reports detailing widespread fraud and abuse in the PPP loan program. The OIG has referred dozens of cases of suspected fraud to the Department of Justice for criminal prosecution.
