Experienced Illinois Lawyer For PPP Loan Fraud
The government is ramping up its efforts to hold businesses accountable for Paycheck Protection Program (PPP) loan fraud. Amid this increased government scrutiny, experienced legal support is essential.
Attorney Jessica Koester of The Law Office of Jessica Koester, LLC, understands the severity of federal fraud charges in Illinois. Based in Edwardsville, she offers free consultations and brings extensive trial experience to the table. Known for her meticulous attention to detail and unwavering dedication, attorney Koester gets results on behalf of those facing federal fraud charges.
The PPP Loan Fraud Crackdown
The PPP program was established to provide much-needed financial relief to businesses during the COVID-19 pandemic. However, the misuse of these funds has led to rigorous federal investigations over activities like these:
- Misrepresenting employee numbers
- Falsifying payroll documents
- Using loans for unauthorized expenses
- Seeking multiple loans from different lenders
The misrepresentation of business status (closed, nonoperational, etc.) is another issue subject to fraud investigations on the federal level.
The Federal Response To PPP Loan Fraud
Federal authorities have intensified efforts to combat PPP loan fraud, charging hundreds of individuals and securing millions in damages from companies. PPP fraud investigations can involve:
- Audits and reviews: The Small Business Administration (SBA) audits loan recipients to ensure PPP compliance, focusing on the accuracy of business nature, employee count and fund use.
- Department of Justice (DOJ) investigations: The DOJ investigates PPP fraud using tips, reports and data analysis, targeting businesses that provided false information.
- Legal actions and prosecutions: Fraud cases often lead to civil lawsuits or criminal prosecutions, resulting in fines, fund repayments and possible imprisonment.
- Publicizing enforcement actions: The government publicizes enforcement successes to deter fraud and reassure the public, potentially resulting in business reputation harm.
Individuals and companies prosecuted for PPP loan fraud can face severe civil and/or criminal penalties, including:
- Fines approaching $250,000
- Imprisonment for up to 20 years
- Restitution payments
- Probation
- Permanent criminal record
Ms. Koester conducts thorough reviews, develops tailored defense strategies and provides ongoing legal advice to everyone she serves. She is also prepared to represent the accused in court, ensuring comprehensive legal representation throughout the process.
Call For Swift Representation
Attorney Koester’s trial experience and commitment to her clients make her an invaluable ally for those facing PPP loan fraud charges in Illinois. Call her Edwardsville office at Call or contact her online today to schedule a free consultation.