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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.

Alaska PPP and EIDL Loan Fraud Lawyers

The Paycheck Protection Program (PPP) was established as a vital lifeline for small businesses during the COVID-19 pandemic. Part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, 2020, the PPP offered loans of up to $2 million, with the first 12 months of interest and principal waived. The loans were guaranteed by the Small Business Administration (SBA), and intended for essential expenses such as payroll, rent, and utilities.

The program was an immediate hit, with lenders flooded with applications. However, with limited regulation and a rapid drain on funds, accusations of fraud soon followed. Reports from the SBA’s Office of Inspector General revealed widespread abuse, with up to 60% of loans reviewed having potential eligibility issues, and the OIG referring dozens of cases of suspected fraud to the Department of Justice.

PPP loan fraud can take several forms, including application fraud, using loan proceeds for purposes other than those specified by the CARES Act, loan stacking, and misrepresenting eligibility to receive both PPP funding and unemployment benefits. Banks, as the lenders for the loans, may report suspicious activity to the SBA but are not responsible for verifying the eligibility of businesses applying for the loans.

To face federal fraud charges, there must be intent to defraud, a material misrepresentation, and financial loss to the victim (SBA). If accused of any form of PPP loan fraud, it is essential to seek legal counsel immediately.

George FernandezGeorge Fernandez
14:16 30 Apr 24
Excellent 10 out of 10, Helped resolve my case. Jeremy explained everything and made everything easy to understand.
21:33 24 Apr 24
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!
Yelva Saint-PreuxYelva Saint-Preux
19:26 19 Apr 24
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.
Katherine SunKatherine Sun
18:08 18 Apr 24
my lawyer is Alex Zhik. Efficient, patient and professional
Nun yaNun ya
17:48 18 Apr 24
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.
Keisha ParrisKeisha Parris
20:45 15 Mar 24
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.
Taïko BeautyTaïko Beauty
16:26 15 Mar 24
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!
K MarK Mar
01:37 25 Jan 24
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.

Are you under investigation for Paycheck Protection Program (PPP) loan fraud? The mere suspicion of committing fraudulent acts in connection with the PPP can have dire consequences, including civil and criminal penalties. This is because the PPP is a federally funded program and any charges resulting from abuse of this program will be heard in federal court. And let’s be clear: federal criminal charges, such as aggravated identity theft, are nothing to take lightly. They carry severe consequences, including mandatory prison sentences.

Don’t take any chances with your freedom and future. If you’re facing an investigation, it’s crucial to hire a seasoned criminal defense lawyer who’s experienced in handling federal fraud charges.

Some examples of PPP fraud include:

  • Obtaining a loan using another person’s identity
  • Obtaining multiple loans from multiple SBA 7(a) lenders
  • Misrepresenting payroll costs or employee count to get more funds
  • Spending PPP loan funds on ineligible expenses
  • Falsely certifying compliance with PPP terms to obtain loan forgiveness.

The SBA Office of Inspector General (SBA-OIG) and the Department of Justice (DOJ) are cracking down on PPP fraud and actively pursuing criminal charges in cases of intentional fraud. Some of the charges you could face include:

  • Aggravated identity theft
  • Attempt and conspiracy
  • Bank fraud
  • Making false statements to the Small Business Administration
  • Making false statements to an FDIC-insured bank
  • Making false statements to federal agents
  • Tax evasion
  • Wire fraud.

You may learn of an investigation through a letter or a visit from a federal agent, or you may find that your bank accounts have been seized or frozen. If this happens, don’t wait. Call us immediately for a free legal consultation. Our lawyers can help you take quick action to contest the seizure and protect you from criminal charges. And if you’re contacted by a federal agent, don’t say or provide anything without first seeking legal advice. You have the right to legal representation, and having a lawyer on your side from the start can prevent further complications, such as penalties for obstruction of justice or making false statements.

Protect Your Business During Federal SBA Loan Fraud Investigations with Spodek Law Group

In the wake of the COVID-19 pandemic, small and medium-sized businesses in Jacksonville and the State of Florida suffered massive economic losses. To alleviate the crisis, the federal government provided financial assistance programs under the CARES Act, such as the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL). However, with the unprecedented nature of the situation, regulations surrounding the relief funds were unclear, and midstream changes caused confusion, leading to investigations of individuals who applied for and received federal funding.

Experience Matters – Contact Attorney Todd Spodek for Legal Counsel

If you’re being investigated or accused of any type of federal SBA loan fraud, it is crucial to contact a highly skilled attorney like Todd Spodek, who has over a decade of experience in handling fraud cases. Todd Spodek is a compassionate and dedicated lawyer who can provide you with the legal counsel you need for your PPP or EIDL loan fraud case. He will evaluate your case and determine the best defenses to challenge any allegations made against you, while providing attentive and effective representation to achieve a favorable outcome.

Understand SBA Loan Fraud Investigations

Recipients of the PPP and EIDL loans are required to use the funds for specific financial obligations, such as payroll, benefits, mortgage, rent, utilities, and property damage expenses. Failure to comply with the regulations surrounding the loans may lead to an SBA loan fraud investigation. Some common allegations that may trigger an investigation include receipt of multiple loans, submission of material misrepresentations, and improper use of funds. If you’re facing any of these allegations, it is essential to contact an experienced attorney like Todd Spodek.

Protect Your Rights with Legal Representation

A federal SBA loan fraud conviction can result in severe penalties, including a lengthy prison term and significant fines. If you’ve been accused of engaging in any illegal activity, it is crucial to seek legal representation immediately. Federal agents conduct extensive investigations, and they may question you or issue a subpoena or search warrant to obtain information and documents pertinent to the case. You have the right to legal counsel, and it’s crucial to have a knowledgeable and experienced attorney like Todd Spodek by your side to protect your rights and interests.

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