Posts tagged FIRREA.
The US Department of Justice announced the first civil settlement involving allegations of fraud against a PPP borrower.
SlideBelts Inc. received a PPP loan under the CARES Act. SlideBelts is an internet retail company and debtor in bankruptcy. SlideBelts and its president/CEO agreed to resolve the allegations in connection with the PPP loan by paying the government damages and penalties of $100,000. SlideBelts had already repaid the $350,000 PPP loan it had received.
The announced civil settlement resolves claims that the conduct of SlideBelts and its president/CEO violated ...