There DOJ continues to make arrests for PPP Fraud. As we mentioned in our previous articles anytime there is a crisis where the government provides relief people use that as an opportunity to commit fraud. The government gave out billions of dollars in PPP loans to be used for legitimate businesses to keep their companies alive. Many people however used this as an opportunity to commit fraud. The funds were given out for the purpose of payroll and expenses, however many people used this for their own personal expenses. The latest example is Terence Deshun Williams of Tamarac, Florida. Williams was arrested this past week and charged with fraud in the amount of $984,710. Williams, a high school basketball coach, claimed to have 67 employees through his company Williams Consulting when in fact he had zero employees and zero payrolls. Williams. In addition to taking the $984,710, Williams also received unemployment benefits. Williams, a former Florida High School coach of the year, faces years in prison.
Over 50 arrests have been made in the past few months for PPP Fraud. Penalties for these types of crimes are expected to be high in fines and potential prison sentences. The trend for these types of fraud is either single business owners who file for PPP without any employees or payroll, or in other cases groups combing in conspiracies with straw business owners that are committing much larger fraud. The DOJ is working with highly sophisticated tracking systems to track these types of loan approvals and matching them with current tax and business information of these businesses that have taken funds., I expect many more arrests in the next few months you have been arrested for PPP or SBA Fraud please call me to discuss your no-obligation Sentence Reduction Plan.
