Jeff Hoffman, Gabriel Altman in Bloomberg News: Small Recordkeeping Missteps Risk a Paycheck Protection Probe
Tuesday, August 6, 2024
Jeffrey C. Hoffman and Gabriel Altman were published via Bloomberg today in an article entitled, "Small Recordkeeping Missteps Risk a Paycheck Protection Probe." Per their analysis, the Justice Department is devoting significant resources to recouping Covid-era Paycheck Protection Program payouts that were improperly obtained or forgiven. As a result, borrowers with PPP debts forgiven may end up in the crosshairs of a False Claims Act investigation, facing civil penalties up to three times the entire loan amount plus other penalties, and individuals may face possible criminal charges carrying substantial custodial sentences. Read more.
