Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
The Great Pandemic Heist: PPP Loan Fraud
The "good" thieves are able to abscond with tremendously valuable items while remaining undetected. They take care to cover their tracks, to make sure any witnesses are silenced, and to financially clean the ill-gotten goods as quickly as possible. In the COVID-19 era, there has been a heist of great value, but it has not gone undetected. Prosecutors have called the heist the largest fraud in U.S. history, with the thieves stealing hundreds of billions of dollars in taxpayer money through fraudulently obtained Paycheck Protection Program (PPP) loans. The thieves' plan to line their pockets was fairly simple: steal the money that the government was doling out to help buoy the economy during the throes of the pandemic. They took advantage of the government's urgent loan dispersal to those who required immediate help. But the thieves could not resist showing off their looted wealth. They began purchasing flashy and expensive Lamborghinis, beautiful beachfront houses, and spending large amounts in cash. The careless and reckless nature of the heist has proven to be its undoing, and now the U.S. government is coming to take back what was stolen — although they are not acting alone.
In many cases, individuals are serving as whistleblowers to identify the manner in which the thieves fraudulently obtained COVID-19 relief funding. These individuals have become an integral part of the government's effort to crack down on the fraud. They also require legal counsel to help them advance the claims on behalf of the government. Practitioners who position themselves as counsel to these individual whistleblowers stand to not only help the government in its efforts to recover stolen taxpayer funds, but also to receive awards as the government provides significant financial incentive to those who fight fraud. On that note, my firm opened The Whistleblower Advocates earlier this year, to tackle these types of whistleblower claims.
Per the U.S. Department of the Treasury, the PPP was implemented with the support of the Small Business Administration to provide small businesses with funds to pay up to eight weeks of payroll expenses. According to the National Conference of State Legislators, at least 75% of the loans were supposed to be used for payroll expenses, and the loan would be forgiven by the SBA for the amount used for payroll costs, rents, utilities or group health insurance costs.
This premium content is locked for Entertainment Law & Finance subscribers only
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
- Stay current on the latest information, rulings, regulations, and trends
- Includes practical, must-have information on copyrights, royalties, AI, and more
- Tap into expert guidance from top entertainment lawyers and experts
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
Yachts, Jets, Horses & Hooch: Specialized Commercial Leasing Models
Defining commercial real estate asset class is essentially a property explaining how it identifies — not necessarily what its original intention was or what others think it ought to be. This article discusses, from a general issue-spot and contextual analysis perspective, how lawyers ought to think about specialized leasing formats and the regulatory backdrops that may inform what the documentation needs to contain for compliance purposes.
Hyperlinked Documents: The Latest e-Discovery Challenge
As courts and discovery experts debate whether hyperlinked content should be treated the same as traditional attachments, legal practitioners are grappling with the technical and legal complexities of collecting, analyzing, and reviewing these documents in real-world cases.
Identifying Your Practice's Differentiator
How to Convey Your Merits In a Way That Earns Trust, Clients and Distinctions Just as no two individuals have the exact same face, no two lawyers practice in their respective fields or serve clients in the exact same way. Think of this as a "Unique Value Proposition." Internal consideration about what you uniquely bring to your clients, colleagues, firm and industry can provide untold benefits for your law practice.
Risks and Ad Fraud Protection In Digital Advertising
The ever-evolving digital marketing landscape, coupled with the industry-wide adoption of programmatic advertising, poses a significant threat to the effectiveness and integrity of digital advertising campaigns. This article explores various risks to digital advertising from pixel stuffing and ad stacking to domain spoofing and bots. It will also explore what should be done to ensure ad fraud protection and improve effectiveness.
Turning Business Development Plans Into Reality
This article offers practical insights and best practices to navigate the path from roadmap to rainmaking, ensuring your business development efforts are not just sporadic bursts of activity, but an integrated part of your daily success.