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.
Sacramento PPP Loan Fraud Lawyers
The Dark Side of PPP Loans: Fraud and Federal Investigations
As the coronavirus pandemic continues to ravage the economy, many businesses are scrambling to secure financial assistance to keep their doors open. The Paycheck Protection Program (PPP) was created as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act to provide a lifeline to struggling companies. However, as the funds are distributed, a dark side has emerged – fraud.
If your business or organization is under investigation or audit for PPP loan fraud, it is crucial to retain a skilled federal criminal defense attorney to navigate the complex legal landscape and mitigate the risk of facing federal criminal prosecution. The government and private banks are working together to identify irregularities and fraud in the application process, and any individual or business found guilty of illegally receiving PPP funds could be facing severe legal repercussions.
In addition to PPP loan fraud, federal and state agencies are also investigating other forms of fraud, such as loan stacking, using PPP funds for unauthorized use, and fraudulent loan forgiveness certification. And if your company is under investigation, it’s important to be mindful of the potential federal charges that could be leveled against you, such as False Statements, Commerce Fraud, Conspiracy to Make False Statements, Making a False Statement, and Wire Fraud.
At our law firm, we specialize in federal criminal defense, and our attorneys have extensive experience representing clients in PPP loan fraud cases. We understand the gravity of the situation and will work tirelessly to protect your rights and interests. Our attorneys are available 24/7 to provide a FREE CONSULTATION and assess your case.
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.
Don’t wait until it’s too late – early intervention by a knowledgeable SBA fraud defense lawyer is key to mounting a proper defense. Contact us today and let us guide you through this difficult time. We have the expertise, resources, and determination to fight for the best possible outcome for you.
What is PPP Loan Fraud?
In summary, PPP loan fraud occurs when a person or business submits false information on an application for a loan under the federal Paycheck Protection Program (PPP). This can include misrepresenting the number of employees, misclassifying employees as independent contractors, falsely claiming eligibility as a small business, and misrepresenting payroll costs to increase the loan amount. The United States Department of Justice is actively investigating potential PPP loan fraud and other CARES Act violations in an effort to recover money that could have been fraudulently acquired from COVID-19 relief programs. If you are under investigation for PPP loan fraud, it is important to seek the guidance of an experienced criminal defense attorney to help you resolve the case and protect your rights.
The Rush to Provide Aid and the Consequences
When the COVID-19 pandemic hit, small businesses across the country were struggling to stay afloat. In an effort to provide much-needed financial support, the government rolled out the Paycheck Protection Program (PPP) to help these businesses keep their doors open and retain employees. However, as the PPP loan application process was rushed and under intense pressure to get money into the hands of business owners, little auditing was completed prior to issuing funds. This has led to a flood of federal probes and arrests where funds were misused or issued based on false and fraudulent representations.
One way PPP fraud has occurred is through individuals submitting fake or multiple loan applications in the names of newly created businesses, falsely claiming to have numerous employees earning wages. These individuals then use the PPP funds for personal or other non-qualifying expenses, resulting in federal prosecutors treating the entire PPP application as fraud. This can lead to charges of wire fraud and bank fraud, both of which carry a maximum penalty of 30 years in prison. Money laundering charges, with a maximum penalty of 20 years in prison, are also frequently brought against defendants in these cases.
Even for legitimate companies receiving PPP aid, there has been federal scrutiny and threats of criminal prosecution. These cases typically involve businesses that do not actually require assistance, but have made a material misrepresentation in their PPP loan application. This highlights the importance of businesses seeking legal counsel before applying for PPP funds to ensure they are in compliance with all program rules and regulations.
The threat of criminal prosecution and the need for legal representation underscores the gravity of the situation and the dire need for businesses to be vigilant and honest when applying for PPP funds, as the stakes are high and the consequences severe.
