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.
Las Vegas PPP and EIDL Loan Fraud Lawyers
Understanding White-Collar Crimes: PPP Loan Fraud
Ideally initiating an honest conversation about PPP, or Paycheck Protection Program fraud, a potentially ruinous white-collar crime often orchestrated by folks high up the business or government ladder. Although these illegal shenanigans rarely involve any physical harm, the aftermath can be devastating, nonetheless.
Imagine being under investigation for PPP fraud. If the Department of Justice chooses to slap charges against you for federal wrongdoings like bank fraud or wire fraud, you’re potentially looking at up to thirty years behind bars and a one million-dollar fine! Frightfully enough, the penalties don’t stop at the legal level. A federal fraud indictment can lash out at your reputation, destabilize your career, and rupture your personal bonds.
Fraud and the PPP: What You Need to Know
Within the PPP realm, a fraudulent loan application is among the leading causes of landing in legal soup. When entrepreneurs apply for PPP funds, they’re bound to certify a few things. That the business is indeed eligible for a loan, that the current economic uncertainty makes this loan quite necessary for regular operations, and that the loan money will ensure that the organization’s workforce remains employed. Also, that all the information put up in the application is legitimate and accurate. Therefore, any PPP certifications made with mala fide intentions may catapult the applicant into federal fraud charges which Todd Spodek and the esteemed Spodek Law Group can help you navigate.
Growingly, even business owners who faithfully applied for PPP loans and judiciously spent the money are now reaching out, worried sick about their vulnerability to federal investigations and criminal reprisals for PPP fraud. Considering the continuously evolving guidelines for the PPP loans, it’s quite reasonable to have such concerns. Remember, it’s always best to involve an accomplished PPP fraud attorney.
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.
Expert PPP Fraud Attorney – In Your Corner
Our highly experienced PPP attorneys have an enviable track record of working with federal investigative and prosecutorial processes. We’ve been the legal guardians for hundreds of clients dealing with federal level cases. Armed with the right legal plan, we might be able to help you steer clear of criminal charges completely! Ring us right away and let’s understand your situation during our complimentary PPP fraud consultation.
PPP and EIDL Loan Fraud in Las Vegas
The PPP has its roots in the Coronavirus Aid, Relief, and Economic Security or CARES Act. Presented as a financial savior for smaller businesses grappling with survival during the pandemic, the PPP allowed loans up to $2 million with no interest or principal due for a year and was guaranteed by the U.S. Small Business Administration or SBA. The idea was simple, to help business folks retain their workforce during the COVID crisis.
However, right from when the PPP program took off, financial outfits were inundated with loan applications. With the initial funding of $350 billion depleting quickly, many businesses found themselves hung out to dry, and fraud allegations started pouring in. Presently, the SBA’s Office of Inspector General has already rolled out 11 reports documenting extensive fraud and misuse in the PPP loan program, with tens of cases transferred to the Department of Justice for criminal prosecution.
PPP loan fraud can take several shapes, whether it’s incorrectly classifying full-time employees as contractors to sneak under the 500-employee limit or misrepresenting payrolls to secure unjustified funding. It could also involve using the loan money for purposes outside the ones specified in the CARES Act, or loan stacking, or even falsely declaring eligibility to qualify for unemployment benefits.
Regardless, let’s not forget that the PPP has been instrumental in helping small businesses, working as a lifeline to keep millions of employees employed while tiding over these challenging times. Consequently, while it’s crucial to punish fraudulent activities, PPP remains a central tool to fight the economic destruction triggered by the pandemic.
How Fraudulent Tactics Have Crept into PPP Loans
PPP loan fraud is a despicable crime, feeding off the vulnerable and exploiting the CARES Act’s benevolent lifeline meant to protect small enterprises and their employees from the economic wreckage caused by the COVID-19 pandemic. Disappointingly, some individuals have blatantly pilfered funds they’re clearly not deserving of.
Fraud can manifest through several tactics. A business could falsely claim to employ fewer than 500 individuals to qualify for the loan or untruthfully affirm that the pandemic crisis has severely hampered their operations, in order to qualify for the PPP loan. A business could even exaggerate their average monthly payroll costs to draw more funding or falsely assert that the entire loan amount is being directed towards permissible expenses. Furthermore, a business could stay mum about an employee leaving to cash in on a more substantial loan forgiveness.
Thankfully, to counter this, the CARES Act established the @Special Inspector General for Pandemic Recovery office, which bears the responsibility of investigating these fraud accusations, while any charges are prosecuted by the Department of Justice (DOJ).
The penalties for PPP loan fraud are rather severe, with it being recognized as a federal crime under the Small Business Act. For instance, submitting fraudulent statements or overvaluing securities could attract a fine of $5,000 and/or two years in a federal prison, while embezzlement could lead to a $10,000 fine and/or five years of imprisonment. Furthermore, the guilty party would have to pay restitution as well.
Anyone being tried for PPP loan fraud could argue that they lacked fraudulent intent, or that the SBA erred. A business owner might have accidentally provided incorrect information on their loan application, possibly due to stress or confusion. Hence, it’s critical to maintain all records like email correspondences, voicemails, bank statements, accounting records, receipts, and bills, in case proof of innocence is required.
Given that most federal criminal records cannot be sealed, the immigration repercussions for PPP loan fraud can be daunting. Fraud involving an amount higher than $10,000 is considered an ‘aggravated felony,’ and any fraud is seen as a crime denoting ‘moral turpitude.’ Therefore, non-citizens convicted of CARES Act fraud could potentially be deported. If non-citizens are facing criminal charges, they should promptly consult counsel, seek advice, examine their options, or possibly manage to get the charges dismissed or lowered to a non-deportable offense.
