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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.

Fort Worth PPP and EIDL Loan Fraud Lawyers

The Paycheck Protection Program (PPP) loan fraud is a federal crime under the Small Business Act, and it is a serious matter. Obtaining money through false pretenses through the CARES Act is a federal felony, and it carries a potential prison time, fines, and repayment of the loan. As of April 2020, eligible small businesses can obtain up to $10 million to cover payroll, mortgages, rent, and utilities for eight weeks. And the government will forgive the debt if the money goes towards these “qualified expenses.”

However, not all businesses affected by COVID-19 and with fewer than 500 full-time employees are eligible for CARES relief. Cheating the Small Business Administration (SBA) out of this stimulus money is not only illegal but it also puts a burden on the government and the taxpayers.

The sentence for PPP loan fraud depends on the specific offense, such as making false statements, or overvaluing securities. These offenses carry a felony sentence of $5,000 and/or 2 years in Federal Prison. Embezzlement carries a felony sentence of $10,000 and/or 5 years in prison. Plus, the defendant will need to pay restitution.

People facing PPP loan fraud charges can argue that either:

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.

The defendant had no intent to defraud; or The SBA made a mistake

For example, if a business owner accidentally provided false information on their loan application, they would not be criminally liable as they had no intent to defraud. And during this time of heightened stress, mistakes are inevitable.

Similarly, if the SBA made a mistake, the business owner should keep all their records such as email communications, voicemails, bank statements, accounting notes, receipts, and bills as these may serve as valuable proof of the defendant’s innocence if the government levies a false accusation.

In most cases, federal criminal records are unsealable, and for non-citizens convicted of CARES Act fraud, they are vulnerable to deportation. Alien facing criminal charges are encouraged to consult with legal counsel as soon as possible.

The Paycheck Protection Program was created as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was signed into law on March 27, 2020. The PPP offered businesses up to $2 million in loans, with no interest or principal due for the first 12 months. The loans were guaranteed by the U.S. Small Business Administration (SBA), were to be used for payroll, rent, utilities, and other essential expenses.

However, with lenders overwhelmed by applications, little regulation in place, and many businesses left out in the cold, accusations of fraud soon followed. To date, the SBA’s Office of Inspector General has issued 11 reports detailing widespread fraud and abuse in the PPP loan program.

In conclusion, PPP loan fraud is a serious matter and it is important for businesses to be aware of the eligibility criteria and the consequences of misrepresents facts to the federal government. And for those facing PPP loan fraud charges, it is important to consult with legal counsel as soon as possible.

Fort Worth PPP and EIDL Loan Fraud Lawyers

The Paycheck Protection Program (PPP) was established under the Coronavirus Aid, Relief, and Economic Security (CARES) Act to provide urgent financial relief to American businesses struggling during the pandemic. With over $950 billion in forgivable loans available, small businesses were given the opportunity to maintain their workforce, access working capital, and keep their operations running smoothly.

However, as the government began distributing these funds, it quickly became apparent that a significant portion of the money was being obtained fraudulently by parties who didn’t qualify for the loan. In response, the government launched vigorous investigations and prosecutions of PPP loan fraud, dedicating entire sections of the Department of Justice to these efforts.

If you find yourself facing PPP loan fraud charges, it’s essential to retain experienced legal representation as soon as possible. Our law firm will gather all the necessary information and evidence, review your case, and work closely with the federal prosecutor or agents assigned to your case to provide them with information that can positively impact your case.

It’s not uncommon for us to reach a resolution that doesn’t involve formal criminal charges. However, if charges have already been brought against you, our criminal defense attorneys are prepared to aggressively negotiate and defend you at trial. We know what the government looks for in PPP loan fraud cases, and we will use this knowledge to your advantage.

Examples of PPP loan fraud include, but are not limited to: -Loan application fraud: falsifying eligibility information on loan applications. -Loan stacking: receiving PPP loans from multiple lenders. -Fraudulent loan certification: knowingly certifying inaccurate statements. -Using funds for ineligible purposes: using PPP funds for anything other than payroll, mortgage interest, rent, or utilities. -Concealing or misrepresenting information during an audit: providing false information or concealing pertinent information during an audit or investigation.

PPP loan fraud charges may result in one or more of the following charges: -Making a false statement -Bank fraud -Wire fraud

These charges can carry severe penalties such as severe fines, home detention, community confinement, paying the cost of prosecution, forfeitures, restitution, supervised release, and lengthy imprisonment. For immigrants, the consequences of a fraud conviction can be serious, as fraud involving more than $10,000 is an aggravated felony and a crime involving moral turpitude, making non-citizens vulnerable to deportation.

Don’t wait to take action, contact our firm today. We are ready to fight for your rights and defend you against these serious allegations.

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