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.
Client Testimonials
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THE BEST LAWYER ANYONE COULD ASK FOR.
The BEST LAWYER ANYONE COULD ASK FOR!!! Todd changed our lives! He’s not JUST a lawyer representing us for a case. Todd and his office have become Family. When we entered his office in August of 2022, we entered with such anxiety, uncertainty, and so much stress. Honestly we were very lost. My husband and I felt alone. How could a lawyer who didn’t know us, know our family, know our background represents us, When this could change our lives for the next 5-7years that my husband was facing in Federal jail. By the time our free consultation was over with Todd, we left his office at ease. All our questions were answered and we had a sense of relief.
When the PPP launched in April 2020, there were many applications. Millions of businesses applied for loans. The initial PPP $349 billion allocation of funds was exhausted almost instantly. While many of the applications were legitimate, it was clear that many banks issued millions of dollars of loans due to false applications.
If you recently realized that information in your company’s PPP loan application was false, or if you are being investigated for filing a fake PPP application, then what should you do? At this point, the main thing you can do is speak to an experienced federal criminal defense attorney. The Paycheck Protection Program Flexibility Act of 2020, which was enacted on June 5, 2020, relaxed some of the standards for PPP loan forgiveness.
Employees are turning in employers for PPP loan fraud
For company owners and executes who are concerned about the accuracy of their PPP loan applications, one thing they can’t do is ignore this issue. The SBA is encouraging employees to whistleblow and come forward with information about PPP application fraud. By filing whistleblower claims, employees can get 30% of the amount the government recovers. This has created a significant incentive for individuals to report instances of PPP fraud.
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.
What constitutes PPP loan application fraud?
Employees can file whistleblower claims based on a wide array of allegations. Some examples of fraud, and false, statements which can lead to prosecution include:
misrepresenting the # of employees
misrepresenting the qualification
misrepresenting the needed loan amount
misrepresenting corporate affiliation and identity
falsely stating that no other ppp loans were received
falsely certifying that the need for a loan resulted from covid 19 crisis economic conditions
How is the federal government uncovering false PPP loan applications
In addition to whistleblower claims, one of the main ways the government is uncovering PPP application fraud is the SBA audit program. The SBA is looking at the applications of all companies which got PPP loans of $2 million or more, and is auditing the applications of recipients of smaller PPP loans as well. The SBA is conducting these audits when the company submits their request for loan forgiveness. If the SBA determines that a loan recipient’s application was false, not only can it deny the forgiveness of the application – it can also refer the borrower of the PPP loan for a civil or criminal fraud investigation.
What agencies are investigating PPP application fraud?
There are many federal agencies which are investigating PPP loan application fraud. The investigations are being triggered either by whistleblower claims, SBA audits, or information obtained from PPP lenders. Investigations conducted by each of these agencies can lead to federal charges, and the penalties can be severe. Below is a list of the agencies that are investigating PPP loan application fraud:
DOJ – the DOJ has launched many criminal investigations target individuals and companies that fraudulently obtained PPP loans by submitting fake/false information. The DOJ is heavily involved in all aspects of PPP compliance. Agents, and prosecutors, across the country are targeting PPP borrowers for loan application fraud.
SBA – The SBA-OIG is investigating PPP borrowers as a result of the SBA’s auditing initiative. Allegations of PPP application fraud from the SBA-OIG can lead to criminal or civil prosecution.
FBI – The FBI is working closely with the DOJ to investigate cases of suspected PPP application fraud. Agents in FBI field offices nationwide are working to uncover fraud, and prosecute it. They have a number of tools to do this.
FDIC/OIG – The FDIC/OIG is involved in investigating PPP application fraud and is working on preventing fraud, abuse, and misconduct. Banks that are lending PPP funds which are FDIC-insured, that were obtained by borrowers due to fraud applications – are being investigated by the FDIC.
IRS/CI – The fraudulent use of PPP loan funds can result in tax related offenses as well. Criminal tax fraud is investigated by the Internal Revenue Service Criminal Investigation. Companies accused of fraud under PPP may find themselves facing federal tax fraud, and tax evasion charges.
There are many possible charges and penalties
Companies, and individuals, including company owners/executives – accused of submitting fake PPP applications can face a number of federal charges. Federal prosecutors are using a variety of statutes to prosecute companies and individuals that obtained/tried to obtain, funds under the PPP by submitting fake applications. Below is a list of statutes that could be used against applicants:
False Claims Act (31 U.S.C. §§ 3729 – 3733)
Making False Statements to the SBA or an FDIC-Insured Bank (18 U.S.C. § 1014)
Bank Fraud (18 U.S.C. § 1344)
Wire Fraud (18 U.S.C. § 1343)
Aggravated Identity Theft (18 U.S.C. § 1028A)
Tax Evasion (26 U.S.C. § 7201)
Attempt (18 U.S.C. § 1349)
Conspiracy (18 U.S.C. § 371 and 18 U.S.C. § 1349)
What will happen if you’re charged with criminal fraud
Anyone who is charged with criminal fraud as a result of submitting false PPP loan applications will be subject to scrutiny, and potential prosecution. Facing criminal charges can be very different from a state level proceeding. At Spodek Law Group, our team of lawyers has experience handling some of the toughest federal cases nationwide.
Are you at risk for federal criminal prosecution
There are many mistakes you have to avoid because they can result in potential criminal charges being filed against you.
Ignoring the potential PPP loan fraud you did, and waiting to get caught by federal authorities
Returning PPP loan funds without speaking to lawyers first
Using PPP loan funds which were fraudulent obtained
Submitting a request for loan forgiveness with false information
What Should I Do if I Realize My PPP Application was False?
If your PPP application potentially contained fake information, or false information – it’s critical you speak to our PPP loan fraud lawyers immediately. We are here to help you.
