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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.





Dallas PPP and EIDL Loan Fraud Lawyers

The Paycheck Protection Program (PPP) loan fraud is a heinous crime that preys on the most vulnerable during times of crisis. As part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, eligible small businesses were offered up to $10 million to cover essential expenses such as payroll, mortgages, rent, and utilities for eight weeks. The government promised to forgive the debt if the funds were used for these “qualified expenses.” However, some unscrupulous individuals saw this as an opportunity to cheat the Small Business Administration (SBA) and steal much-needed stimulus money.

Make no mistake, PPP loan fraud is a federal crime under the Small Business Act, and the consequences are severe. Those found guilty of making false statements or overvaluing securities could face up to $5,000 in fines and 2 years in federal prison. Embezzlement carries even harsher penalties with fines of up to $10,000 and 5 years in prison. And that’s not all, defendants will also be required to pay restitution.

Defendants facing PPP loan fraud charges can argue that they had no intent to defraud or that the SBA made a mistake. For example, a business owner who accidentally provides false information on their loan application is not criminally liable. Similarly, errors made by the SBA during this time of heightened stress are inevitable, and it’s important for business owners to keep all records such as email communications, voicemails, bank statements, accounting notes, receipts, and bills to prove their innocence.

However, it’s important to note that in most cases, federal criminal records are unsealable, and for non-citizens, fraud involving more than $10,000 is considered an aggravated felony, making them vulnerable to deportation.

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.
RajRaj
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.
TaĂŻko BeautyTaĂŻko 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.
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The PPP loan program was created to help small businesses affected by COVID-19, and the overwhelming response was evidence of the dire need. Unfortunately, the program was also vulnerable to fraud and abuse, with the SBA’s Office of Inspector General issuing 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.

In conclusion, PPP loan fraud is a federal crime that carries severe consequences, and it’s essential for small business owners to understand the risks and take all necessary precautions to protect themselves. And for those who think to cheat the system, let this serve as a warning, the government will not tolerate fraud, and you will be held accountable.

Dallas PPP Loan Fraud Lawyers

As the pandemic swept across the nation, small businesses were hit hard. In an effort to keep them afloat, the government introduced the Paycheck Protection Program (PPP) to provide financial aid. However, as with any government program, there are those who seek to exploit it for their own gain. Federal criminal defense attorneys have seen an uptick in criminal charges related to PPP loan fraud. The following are some of the most common types of fraud that the government is investigating:

  1. PPP Application Fraud

The CARES Act required businesses to provide accurate and truthful information on their PPP loan applications. False information could result in criminal charges. The government is particularly interested in cases where businesses:

  • Overstated the number of employees or the amounts that employees would make in order to get more money.
  • Categorized a number of its employees as independent contractors to qualify as eligible applicants.
  • Used someone else’s information to apply for a loan.
  1. Fraudulent Use of the PPP Loan Funds

The PPP provided limits on the use of the funds from the loans. The funds were not supposed to be used for personal expenses or luxury items. If the funds were used for these purposes, the loan would not be eligible for forgiveness. If a business is found to have used the funds for anything other than the intended purposes, federal prosecutors may investigate.

  1. Fraud in the Loan Forgiveness Certification Process

The PPP allowed for the complete forgiveness of many of the loans provided that certain requirements were met. Providing false information in connection with a forgiveness application could lead to criminal charges. Companies that sought forgiveness of the loans had to comply with the terms of the program and prove that they were in fact eligible for forgiveness. Some companies were also required to provide supporting documentation. If a borrower submitted fraudulent or inaccurate documents, attested to statements that were not true, or provided incomplete information, those submissions could attract federal attention.

  1. Obtaining Multiple PPP Loans From Different Lenders

Finally, the PPP allowed for up to two loans for some companies. Companies that applied for more than one loan with multiple lenders for which they were not eligible could be investigated by the government and criminally charged. If a business borrowed from more than one lender, they should contact a criminal defense attorney immediately.

It’s important to note that the government is taking PPP loan fraud very seriously and will not hesitate to bring criminal charges against those who abuse the program. If you have any concerns or questions about your PPP loan, it’s best to consult with a criminal defense attorney. Remember always to be honest and truthful when applying for a loan.

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