Posts tagged FIRREA.
 |  By
PPP Borrower Pays Damages and Penalties to Government in First False Claims Act Settlement

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 ...

Posted in: CARES Act/PPP, COVID-19, Federal Tax
Tags: CARES Act, FCA, FIRREA, PPP, PPP Loans, SlideBelts
View more Subscribe
Burr
Jump to Page
Arrow icon Top

Contact Us

We use cookies to improve your website experience, provide additional security, and remember you when you return to the website. This website does not respond to "Do Not Track" signals. By clicking "Accept," you agree to our use of cookies. To learn more about how we use cookies, please see our Privacy Policy.

Necessary Cookies

Necessary cookies enable core functionality such as security, network management, and accessibility. These cookies may only be disabled by changing your browser settings, but this may affect how the website functions.

Analytical Cookies

Analytical cookies help us improve our website by collecting and reporting information on its usage. We access and process information from these cookies at an aggregate level.