Covered by NYDaily News. Las Vegas man accused of threatening a prominent attorney and making vile remarks.
Covered by New York Times, and other outlets. Fake heiress accused of conning the city’s wealthy, and has an HBO special being made about her.
Accused of stalking Alec Baldwin. The case garnered nationwide attention, with USAToday, NYPost, and other media outlets following it closely.
Juror who prompted calls for new Ghislaine Maxwell trial turns to lawyer who defended Anna Sorokin.
Clients can use our portal to track the status of their case, stay in touch with us, upload documents, and more.
Regardless of the type of situation you're facing, our attorneys are here to help you get quality representation.
We can setup consultations in person, over Zoom, or over the phone to help you. Bottom line, we're here to help you win your case.
The Spodek Law Group understands how delicate high-profile cases can be, and has a strong track record of getting positive outcomes. Our lawyers service a clientele that is nationwide. With offices in both LA and NYC, and cases all across the country - Spodek Law Group is a top tier law firm.
Todd Spodek is a second generation attorney with immense experience. He has many years of experience handling 100’s of tough and hard to win trials. He’s been featured on major news outlets, such as New York Post, Newsweek, Fox 5 New York, South China Morning Post, Insider.com, and many others.
In 2022, Netflix released a series about one of Todd’s clients: Anna Delvey/Anna Sorokin.
Why Clients Choose Spodek Law Group
The reason is simple: clients want white glove service, and lawyers who can win. Every single client who works with the Spodek Law Group is aware that the attorney they hire could drastically change the outcome of their case. Hiring the Spodek Law Group means you’re taking your future seriously. Our lawyers handle cases nationwide, ranging from NYC to LA. Our philosophy is fair and simple: our nyc criminal lawyers only take on clients who we know will benefit from our services.
We’re selective about the clients we work with, and only take on cases we know align with our experience – and where we can make a difference. This is different from other law firms who are not invested in your success nor care about your outcome.
If you have a legal issue, call us for a consultation.
We are available 24/7, to help you with any – and all, challenges you face.
Last Updated on: 28th July 2023, 07:22 pm
We all know securing that little extra finance is crucial to boosting your business. Now, as stressed as you are, you might be tempted to ‘creatively enhance’ a bit here and there on your loan application just to bag the elusive funds. But whoa, hold your horses! You gotta hear me out on this because the potential fallouts of being nabbed lying are far from pretty.
At its core, a small business loan’s a just good old financial pact between the lender and, in this case, you – the entrepreneur. The idea’s to get funds to fuel your business and you sign up to pay back the loan amount with interest over a fixed time. Seems simple, right? Wrong. Brace up, because things can go sideways, and fast.
Why the Risky Lie, You Ask?
Sometimes, the allure of immediate financial boost gets the better of folks, encouraging them to make dicey ethical calls. But you gotta remember, these risky moves come with severe repercussions. Before putting your reputation and business on the line, ask yourself – is it really worth it? Remember, honesty may not dazzle, but boy, it sure keeps things uncomplicated in the long run.
You see, most small business owners often confront a similar predicament when applying for a loan. The temptation to warp their financial situation to get a bigger loan is real and tough to resist. But here’s the deal – baring false info on a small business loan application can land you in choppy waters, and trust me, it’s not a situation you’d wanna be in.
From fudging income details, visa status, and assets, to providing shady employment info, misuse of the loan purpose, hiding family member’s details and lying about their debts or the deposit source – the false trail just goes on. Sure, these might get you a heftier loan, but take it from me, dishonesty always has a way of catching up.
Bluffs on the loan application are not going to go unnoticed. Lenders have got their own bag of tricks, like using red flags, encoding with hidden information, and data sharing with other financial bods to sniff out inconsistencies. And if the supporting documents like tax returns, bank statements, or pay stubs don’t match the info, they’ll cut through the deceit in no time.
Is the Daring Lie Worth It?
Remember, there are consequences to contemplate before taking that shady leap – denial of loan, serious legal repercussions, a soiled reputation, you name it. The takeaway? Transparency is your best bet. A successful and trustworthy business trump a duplicitous loan application any day.
Current times are tough; businesses and households are drowning. Small businesses – the Unseen Heroes of our economy, are grappling for breather. With 44% economic activity and about 60% of the workforce in their fold, the COVID-19 pandemic has hit ’em particularly hard, fuelling the need for pandemic relief at an all-time high.
The Small Business Administration (SBA) rose to the situation, allocating funds up to $2 million at a measly 3% interest as emergency aid to small businesses. But, before you hop on the bandwagon, be clear about your intent – SBA loans aim to provide aid and spur growth. Misuse of these funds can trigger an audit and could even slap charge of loan fraud.
Loan fraud’s no joke. Falsifying facts on a federal loan application can be seen as a federal offense and might end you up behind prison bars or paying hefty fines. Be extra cautious to maintain accurate records of loan use and disbursement. Without these records, or if they’re inconsistent with the initial loan purpose, it could lead to grave accusations of money laundering, terrorism financing, or conspiracy.
To provide relief during the pandemic, the government came up with Cares Act. Through the SBA, it offers two types of loans – the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan Program (EIDLP). Before taking the leap, have a full-proof plan for the funds and a realistic estimate of repayment. Many businesses accept loans sans understanding the terms and then default. So, do check the interest rate and monthly payment schedule, and who better than a legal eagle like Todd Spodek and the Spodek Law Group to guide you through, prevent suspicion of loan fraud and any potential audits.
Easy way out? Keep your business records – payroll, expense receipts, signatures handy and up-to-date. Stored in a safe corner or an online repository can ward off discrepancies in your loan application. Also, some loan programs come with audit protection, offering additional cover-up for businesses with skeletons in their closets. Even with such precautions, if you still find yourself in a soup over loan fraud charges, don’t fret. The Spodek Law Group’s got your back.
Charges of SBA loan fraud are serious. They could see you in jail for 30 long years, depending on the level of charges. In times like these, weigh your options carefully. Be sure why the loan is crucial and if there are other ways to get the money. Using the loan for personal use or anything outside its purpose like keeping operations afloat or making payroll, could trigger a federal probe and criminal penalties.
Please fill out the form below to receive a free consultation, we will respond to
your inquiry within 24-hours guaranteed.