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nyc criminal lawyers over 30 years of experienceWe Know How To Win Cases

Spodek Law Group handles tough cases
nationwide, that demand excellence.

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Faced 5+ Years in Prison

People Vs Joseph Amico

Covered by NYDaily News. Las Vegas man accused of threatening a prominent attorney and making vile remarks.

Faced 10+ Years in Prison

People Vs. Anna Sorokin

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.

Faced 3+ Years in Prison

People Vs. Genevieve Sabourin

Accused of stalking Alec Baldwin. The case garnered nationwide attention, with USAToday, NYPost, and other media outlets following it closely.

Faced Potential Charges

Ghislaine Maxwell Juror

Juror who prompted calls for new Ghislaine Maxwell trial turns to lawyer who defended Anna Sorokin.

Why Choose Us

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.

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Meet Todd Spodek

WE PROVIDE WHITE GLOVE SERVICE TO CLIENTS
WHO WANT MORE FROM THEIR ATTORNEY

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.

PPP LOAN FRAUD PENALTIES

Are You Being Accused of PPP Loan Fraud?

Are you being accused of PPP loan fraud? There is a lot of scrutiny going on – with recipients of the Paycheck Protection Program. There are so many fraudulent PPP loans that were issued, and now being investigated by the Department of Justice. At the same time, the IRS, the FBI, and the SBA, are all looking at borrowers who received $2 million or more in PPP funds and investigating them for fraud. Some borrowers who received smaller loans, as part of an ongoing effort to investigate potential abuses – are also being looked at. If you’re a small business owner who applied for the Paycheck Protection Program – you could be at risk for an SBA audit, or a federal investigation.

The PPP loan fraud penalties can be severe. You shouldn’t hesitate to seek legal guidance from the Spodek Law Group. We encourage you to contact our PPP loan fraud attorneys today, for a risk free consultation.

About the Paycheck Protection Program

The Paycheck Protection Program is a $670 billion federal loan program which was established by the SBA in March 2020, under the CARES act. In the middle of the pandemic, the PPP program was intended to provide business owners the economic aid they needed to keep employees on their payroll. PPP provided funds in order to pay employee salaries, and support ongoing business operational costs. The key component of the Paycheck Protection Program was the provision that the loans can be forgiven provided that recipients retained their workforce, maintained employee salary levels, and used the funds to cover the payroll costs and other eligible expenses. The loan amount was based on the # of employees, average payroll costs. 60% of the loan had to be used for payroll, while the other 40% could be used for interest on office mortgage, rent, utilities, etc.

PPP Loan Recipients Could Be At Risk

The PPP program was very susceptible to fraud schemes, more than anyone could have predicted. As a result of this, the federal government has increased their oversight of the program, and are working very hard to ensure compliance of the loan program .The rules and regulations governing the Paycheck Protection Program is constantly changing, and business owners are unsure of whether they were eligible for it – and qualify for loan forgiveness. The Department of Justice is very carefully investigating allegations of PPP loan fraud, and the SBA is auditing PPP loan recipients. There is immense risk for criminal prosecution re: PPP fraud.

What Constitutes PPP Loan Fraud?

The PPP rollout was very rocky. There was high unemployment, and there were ongoing concerns about the pandemic. Small business owners scrambled to get PPP funds before the cash ran out. Lenders struggled to keep up with the influx of loan applications. As of mid-July, the PP program had issued almost 4.9 million forgivable loans for a total of $521 billion in funds. Unfortunately, there was so much confusion – many businesses got PPP funds that weren’t eligible for it. As the federal government undertakes an effort to root out abuses with the PPP program, many applicants and recipients are now concerned about audits and investigations, or being charged with a crime.

Below are examples of things that can trigger criminal prosecution for PPP loan fraud:

  • Overestimating the number of employees
  • Misclassifying employees in order to qualify as a small business
  • Making bad-faith certifications on a PPP loan application
  • Inflating payroll costs to get a higher PPP loan amount
  • Getting PPP funds from multiple lenders
  • Using PPP funds for unauthorized expenses
  • Firing, or failing to rehire employees or cutting employee salaries despite getting PPP funds

PPP Loan Fraud Penalties

The CARES Act doesn’t specifically contain provisions for criminal enforcement of the Paycheck Protection Program. The Act simple says that PPP loan recipients who fail to retain employees, and fail to use funds for qualified expenses for loan forgiveness, have to repay the loan at an interest rate of 1%. As a result, the DOJ has relied on pre-existing federal statutes when pursuing charges for PPP loan fraud. Below are examples of some of the federal crimes the DOJ might pursue against individuals who are suspected of committing PPP fraud and the associated penalties.

The most serious penalties are tied to crimes like bank fraud, mail fraud, and wire fraud. Making a false statement to the SBA or a financial institution can lead to a prison term of up to 30 years. Other federal crimes carry varying degrees of penalties. If you are accused of attempting, or conspiring, to defraud the Paycheck Protection Program —- even if you didn’t get PPP Funds, you could still face criminal penalties upon conviction as if the fraud was successful.

DOJ Aggressively Pursuing PPP Loan Fraud Penalties

Federal investigators have ramped up efforts to combat PPP loan fraud. Since 2021, individuals in many states have been arrested, and criminally charged with fraud crimes and/or the attempt to commit fraud crimes like bank fraud, wire fraud, and for making false statements to a financial institution. The DOJ has issued many press releases following the announcement of charges in each case. Below are examples of what the government is cracking down on:

  • Applicants who are making false or misleading statements on their PPP loan application
  • PPP funds used for unauthorized purposes
  • Loan recipients making false statements on PPP loan forgiveness applications

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Testimonials

I was searching for a law firm with some power to help me deal with a warrant in New York . After 6 days I decided to go with Spodek Law Group. It helped that This law firm is well respected by not only the top law firms in New York , but the DA , Judge as well. I...

~Fonder Brandon

5 Stars
It was my good fortune to retain Spodek Law Group for representation for my legal needs. From the beginning, communication was prompt and thorough. Todd, Kenneth and Alex were the first people I worked with and they all made me, and my company Qumana skincare feel comfortable and confident that the team was going to work hard for me. Everything...

~A G

5 Stars
After meeting with several law firms, I chose the Spodek Law Group not only for their professionalism and experience, but for the personal attention given to me right from the initial consultation. It is important to recognize how crucial having the right legal team is when faced with potentially life altering events that impact families and the lives of loved...

~George Cherubini

Spodek Law Group

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We Provide Superior Service, Excellent Results, At A Level Superior To Other Criminal Defense Law Firms. Regardless Of Where Your Case Is, Nationwide, We Can Help You.
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