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.
PPP Loan Fraud – Lying About Employees On Your Application
The PPP program was designed to allow small businesses keep workers on their payroll. This program provided federally guaranteed loans for eligible businesses. More than 10 million loans were issued, totaling more than $750 billion under PPP. The project was part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This loan helped provide small businesses cover their needs: payroll, rent, utilities, and other expenses because Covid affected their earnings.
Some people took money they didn’t rightfully deserve. Businesses who apply for a PPP loan are required to meet requirements, and there are limits on how they can spend funds. If a business violates these requirements when getting a PPP loan – they could be held liable to charges.
Some of the ways businesses committed PPP fraud include:
Making false statements on the PPP loan application
Applying for a PPP loan from many lenders
Using PPP funds for unapproved things
Submitting a false certification for PPP loan forgiveness
Being dishonest during a PPP loan audit, or investigation
Lying about employees when filling out a PPP loan application
Many business owners are getting in trouble because they lied about how many employees they have. If you lie on your PPP loan application, you could be accused of bank fraud under U.S. Code Title 18 U.S.C. 1344. Bank fraud is considered a type of white collar crime, and the penalty can vary.
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.
If a business lied about the number of employees they had on their PPP loan application, they can also be accused of wire fraud. If you were found to use a communications device, like a telephone or email, to defraud an institution in order to gain funds from a PPP loan – you can be considered guilty of wire fraud. Penalties for wire fraud can include prison up to 20 years.
PPP loan fraud, as a result of lying about your number of employees, can be prosecuted as conspiracy to commit fraud. This illegal act involves two or more people conspiring to commit an offense against the U.S., and the charge can include up to 5 years in prison and other punitive damages.
If you lied about the number of employees on your PPP application – you can also be prosecuted for making false statements to a financial institution. It is illegal to make a false statement to a financial institution, so if you lied about the number of employees on your PPP loan, you could be charged with this federal crime. This act is criminal, under section 1014, and if you’re convicted – you could face a fine, and prison time.
What to do if you’re under investigation for PPP loan fraud by lying about the number of employees on your application
If you’re under any type of investigation, it’s important to be careful. As you are aware, you should consider hiring a PPP loan fraud lawyer as soon as possible. If you make any statements, any words, to the wrong agent of the government – they can be used against you. You might think you are telling the truth – or defending yourself, but you may accidentally incriminate yourself. This problem will not go away on it’s own. You should consider speaking to a trusted criminal defense attorney at the Spodek Law Group. If you think you might be facing PPP fraud charges, we can help you.
We can work on building a defense that proves your innocence
We can communicate and gather the necessary evidence that vindicates you
If you are being investigated for lying about employees on your PPP loan application there are potential defenses we can work on your behalf:
Lack of intent: In order to charge you with PPP fraud, the government has to prove you intentionally misrepresented a fact on the PPP loan application. It’s natural there was some confusion when filling out these forms.
Loans usage: If you signed a PPP loan application, you have to certify the funds would be used for business-related purposes under loan requirements. We will help you build this defense.
Identity: Another thing the government has to prove is that you are the person who committed the crime and pursued the crime. PPP applications require the business owner to file specific applications and the government has to prove you were the person who submitted the application. If its possible, we will work to ensure there is no evidence for this.
If you’re worried about lying about employees on your PPP loan application, call the Spodek Law Group today.
