How to report PPP fraud? What are the charges for PPP Loan Fraud?

Paycheck Protection Program

The Paycheck Protection Program is a $953-billion business loan program established by the United States federal government in 2020 through the Coronavirus Aid.

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To become eligible to obtain PPP support, every small business or individual has to prove that they are affected by the pandemic and can get PPP funds.

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PPP fraud happens when individuals and businesses submit false documents or make illegal representations to receive money from the government.

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PPP fraud

False Claim Act and PPP Fraud

Under the False Claim Act, Americans are encouraged to inform the concerned departments against the PPP frauds, frauds by the bosses and employers.

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The Justice Department of the United States announced the list of 57 individuals and businesses that were charged after PPP loan investigations.

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It’s high time that you should check your information and contact the lender to put a halt on further payments.