YOU MAY HAVE SEEN TODD SPODEK ON THE NETFLIX SHOW INVENTING ANNA
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.
PPP Loan Fraud Investigation Lawyers
PPP loan fraud investigations are nationwide. Federal prosecutors from federal agencies across the country are looking for possible PPP loan fraud and other violations of the CARES Act in order to recover money which was fraudulently obtained via Coronavirus relief programs meant to help the economy.
What’s PPP loan fraud?
PPP loan is when an individual, or business, is submitting false information in order to get a loan under the federal paycheck protection program. The PPP was made to help businesses stay alive during the pandemic by giving forgivable loans to cover operating expenses. Businesses that apply for PPP loan via commercial banks have to meet many different eligibility requirements.
Even after a business gets a PPP loan, it has to abide by certain requirements.
What will happen during a PPP loan fraud investigation?
The focus of PPP loan fraud is to determine whether charges can be brought against someone for violating one, or more, guidelines of the PPP loan program. Federal prosecutors have been targeting businesses and individuals who violated PPP for a number of reasons:
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!
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.
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.
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.
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!
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.
False statements on PPP application
Applying for PPP loans from many lenders
Using PPP money for improper purposes
Submitting a false certification for loan forgiveness
Not being truthful to agents during a loan audit, or investigation
People who are charged with PPP loan fraud can face serious criminal/civil penalties. There are many possible criminal laws that may be involved in alleged PPP loan fraud.
What happens during PPP loan fraud investigations?
PPP loan fraud investigations determine whether charges should be brought against someone for violating PPP program guidelines. Generally, prosecutors have been targeting businesses/individuals who are violating the PPP loan program. Below are examples of laws that might be involved in a PPP loan fraud case, the most common charges are:
Wire fraud
Bank fraud
False statements to a financial institution
Conspiracy to commit fraud
How should I respond to a PPP loan fraud investigation allegation?
If you’ve been contacted by federal agents, or someone else, about PPP loan fraud, you have to be careful. There are many cases where someone decided to speak to an investigator without a lawyer, and was then charged with obstruction, or making false statements to agents. We recommend clients reach out to us first before they discuss their loan application with a federal agent. It’s not a good idea to speak to investigators because you could be charged with making a false statement in addition to PPP loan fraud.
It’s not uncommon for people to have their bank accounts frozen, or seized, as a part of PPP loan fraud investigations. If this happens, don’t panic. Just because your bank account was seized doesn’t mean there are criminal charges. But the fact is, you may want to take steps to protect yourself from criminal charges. We believe it’s smart to be proactive. Don’t ignore the problem. The fact that funds have been frozen is a strong indication that a criminal investigation is presently underway.
It’s critical that in a PPP loan fraud investigation that you be proactive. Federal grand juries are currently limited due to coronavirus restrictions. It means if you hire an experienced criminal defense attorney, you can take steps to steer the case to a civil disposition – like paying back the money, and a fine, instead of a federal criminal charge. If you’re worried about PPP fraud charges, you should hire a federal criminal defense attorney and take some steps to protect you, and your business.
Gather all business and personal records and make a copy of them. You will need these to support your defense.
Don’t throw away, or shred, any business records. You may need these documents later. Destroying any important documentation can lead to separate criminal charges.
Let your employees know that they can report suspicions about PPP fraud without fear of retaliation.
There have been many recent PPP loan fraud prosecutions. This means the DOJ is definitely devoting time and resources to fight PPP loan fraud allegations. The SBA Office of Inspector General has issued reports citing major concerns. PPP loan fraud prosecutions are being brought across the country.
Our federal attorneys are looking at PPP loan fraud cases and developments. If you are accused of PPP loan fraud, consider speaking to our attorneys.
