Last Updated on: 19th October 2023, 12:19 pm

Memphis PPP and EIDL Loan Fraud Lawyers

The Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) program was supposed to be a lifeline for small businesses struggling from the economic impacts of COVID-19. But unfortunately, some business owners abused these programs and committed fraud to get loans they weren’t entitled to. Now, many of them are facing serious legal consequences.

If you’re a small business owner in Memphis accused of PPP or EIDL fraud, you need an experienced lawyer on your side. Don’t go it alone against federal prosecutors—that’s a recipe for disaster. A knowledgeable attorney can argue for leniency and help minimize the penalties you may face.

Common Types of PPP and EIDL Fraud

Some of the most common schemes prosecutors are pursuing include:

• Falsifying payroll numbers on PPP loan applications to get bigger loans
• Using PPP funds for personal purchases instead of payroll and other business expenses
• Applying for multiple PPP loans for the same business from different lenders
• Lying on EIDL applications about having an established business to get emergency grants
• Spending EIDL money for unauthorized purposes

Most of these are federal offenses that can lead to felony fraud charges. Business owners could be looking at hefty fines, years in prison, and other serious penalties if convicted.

How an Attorney Can Help

A knowledgeable lawyer can be invaluable in these situations. Here are some of the ways we can help if you’re accused of PPP or EIDL fraud:

• Reviewing the charges and identifying any legal defenses that apply to your case
• Negotiating with prosecutors for reduced charges or alternate resolutions besides prison
• Guiding you through the pretrial process and using legal motions to get favorable rulings
• Presenting evidence and arguments at trial to undermine the prosecution’s case
• Arguing for leniency at sentencing if you’re convicted, focusing on mitigating factors
• Filing appeals to overturn convictions or reduce penalties if necessary

Having an experienced federal defense lawyer makes a huge difference. We understand these complex fraud cases and the most effective strategies for achieving the best outcome possible.

Potential Defenses in PPP and EIDL Fraud Cases

There are several arguments we may be able to make to fight the charges, including:

• No intent to defraud: For most federal fraud crimes, prosecutors must prove you knowingly tried to obtain loans illegally. If errors were honest mistakes, it weakens the case.
• Compliance ambiguities: Vague PPP and EIDL program rules make compliance confusing. It’s easier to show actions weren’t intentionally fraudulent.
• Return of funds: Paying back loans voluntarily before being charged shows good faith and can persuade prosecutors to drop the case.
• Minimal loss: If the government suffered little to no financial loss from the alleged fraud, we can argue for dismissal of charges.

An experienced attorney knows how to craft the most compelling arguments using these defenses and the specific facts of your case.

What to Expect in the Legal Process

Here’s an overview of how PPP and EIDL fraud cases typically proceed if charges are filed:

1. Arrest and arraignment: This is when you’re formally charged, arrested, and appear in court to enter a plea.
2. Pretrial motions: Your lawyer will file motions challenging the validity of evidence, requesting info from prosecutors, and raising other legal issues.
3. Plea negotiations: We’ll discuss options with the prosecution like reduced charges or probation to avoid trial.
4. Trial: If no plea deal, your case will go before a judge and/or jury, where we’ll contest the allegations.
5. Sentencing: If found guilty, the court will impose penalties like fines, restitution, or prison time.
6. Appeal: We can file appeals on issues like improperly admitted evidence, insufficient evidence, procedural errors and excessive sentences.

Having a lawyer to guide you through each stage is critical. We’ll advocate for your best interests every step of the way.

Why These Cases Are Serious

PPP and EIDL fraud charges shouldn’t be taken lightly. Here’s why:

• They usually lead to felony charges, not misdemeanors.
• Penalties can include substantial prison sentences of 5, 10 years or longer.
• The government treats it as stealing taxpayer funds meant for businesses in need.
• Judges often impose harsh sentences to deter others from defrauding emergency loan programs.
• A conviction means a criminal record that can follow you for life.

These high stakes make having an aggressive defense lawyer all the more important. Don’t leave your fate in the hands of prosecutors and the court without experienced legal counsel.

Act Quickly to Protect Your Rights

If federal agents have contacted you about potential PPP or EIDL fraud, or you’ve received a target letter, subpoena, or other indication you’re under investigation – call a lawyer immediately. The sooner we get involved, the better positioned we are to protect you.

Don’t fall into the trap of thinking cooperating with investigators will help your case. They’re building a case against you. Assert your right to legal counsel and allow us to handle interactions with federal authorities from here on out.

With an early start, we can get to work right away dismissing deficiencies in the government’s case and resolving the matter favorably. The longer you wait, the harder that becomes. So call our office to schedule a free case evaluation as soon as possible.

Why Clients Choose Us

When your business, livelihood, freedom, and future are on the line, you need a lawyer you can trust completely. Here are a few of the reasons clients choose us to fight federal fraud charges:

• Decades of experience successfully defending complex white collar cases
• In-depth knowledge of federal statutes, sentencing guidelines, and prosecutors’ tactics
• Creative lawyers who think outside the box to build the strongest defense
• We have paralegals, legal assistants, and resources to match the government
• We know how to negotiate effectively with prosecutors and argue persuasively in court
• We’re aggressive and relentless in protecting our clients’ rights and interests

Don’t leave your future to chance. Schedule a free case review with our Memphis legal team today. We’re standing by 24/7 to take your call.