Lessons From the First DOJ PPP Fraud Prosecutions

The federal government enacted the CARES Act, a $2‑trillion stimulus package, on March 27, 2020, to aid U.S. residents reeling from the effects of the COVID-19 pandemic. The implementation of the Paycheck Protection Program (PPP), one of the Act’s relief initiatives, has been in the spotlight due to concerns about borrowers’ eligibility and the risk of fraud. The DOJ has already begun to file charges against PPP fraudsters. In a guest article, Brian Hayes, a partner at Holland & Knight, highlights lessons learned thus far from the government’s prosecutions. See “COVID-19 Economic Relief Packages Bring Fraud Risks” (Apr. 1, 2020).

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