I expect that in the next year we will see many prosecutions for PPP and SBA Fraud. Anytime there is a major crisis you can expect a high level of fraud as people try to take advantage of others and the government during times of crisis. I have seen it during Katrina, 911, and the 2008 banking crisis. I expect COVID-19 will increase the number of people looking to execute a fraud, as a crisis allows opportunities. Recently the first prosecution for PPP Fraud was announced in the district of Rhode Island. The 2 men charged with SBA Fraud were both arrested by the Boston FBI and presented in the US District Court in Providence, RI. My guess is this will be a difficult road for these 2 men for a few reasons.
1.The government will look to make an example of them to discourage others from committing the same type of fraud.
2. Most Federal Judges will likely view this crime as one that may deserve a higher sentence. They are likely to feel that people who really need this money were denied access because of the crime
3. The press will make these two men look very bad as they were attempting to steal from the needy during one of the worst times in US History.
My guess is there will be multiple charges and high guidelines against anyone who commits these types of crimes.
If you have been charged with SBA Fraud and are facing a long prison sentence please contact us today to discuss your personalized sentence reduction plan
