馃攳
PPP Loan Fraud - 5 Things You Need to Know - YouTube
Channel: unknown
[0]
[Music]
[4]
hey this is justin isaac welcome to the
[6]
lawyer on youtube today we're going to
[8]
be discussing
[9]
ppp loan fraud what is ppp loan fraud
[12]
how can it affect you obviously you
[14]
found this video because you're curious
[15]
about it you may have someone you know
[17]
that's charged with it or you're worried
[18]
that you may be investigated for it so
[20]
let's talk about five things you should
[22]
know
[23]
if you're facing ppp loan fraud charges
[26]
or investigation none of this is legal
[28]
advice what was the ppp loan program as
[31]
we all know the ppp loan program was
[34]
enacted to help small businesses get
[36]
through the pandemic who were suffering
[38]
greatly from a lack of business because
[41]
no one was going anywhere no one was
[43]
doing anything
[44]
and many businesses had a hard time
[46]
staying afloat the federal government
[48]
through the small business
[48]
administration and banks gave out
[51]
millions and millions and millions of
[53]
dollars to small businesses and what
[55]
they did is they based the loan amount
[57]
on previous income that the business had
[61]
generated used a multiplier to produce a
[64]
number that was then given to them as a
[65]
loan generally these loans were
[67]
forgivable you just had to follow the
[68]
rules and so it was a great program that
[71]
actually kept many small businesses
[72]
afloat during a pretty terrible pandemic
[75]
which thankfully it looks like we're
[76]
starting to come out of now that you
[78]
know about the ppp loan program you need
[80]
to know
[81]
what could be going wrong if you're
[83]
being under investigation or you're
[85]
facing charges
[86]
so
[87]
let's start with our second point ppp
[89]
loan fraud can be prosecuted under
[91]
numerous federal laws there is a federal
[94]
crime for bank fraud there is a federal
[96]
crime for
[98]
loan fraud there's a federal crime for
[101]
wire fraud there's a federal crime for
[104]
mail fraud there are federal crimes for
[106]
computer fraud the moral of the story is
[109]
when it comes to ppp loan fraud the feds
[112]
federal prosecutors have plenty of ways
[114]
to prosecute you and so if they find out
[117]
that you did something illegal there
[118]
will be no problem in them prosecuting
[120]
your case our third point on ppp loan
[122]
fraud is that there are multiple ways
[124]
that people
[125]
have been caught and even have already
[127]
been convicted of committing ppp loan
[130]
fraud obvious way this happens is when
[132]
they ask for your income amount that you
[135]
give a fraudulent
[137]
number
[138]
unfortunately there are many cases that
[139]
have been reported where people gave
[141]
fraudulent income for previous years and
[143]
quarters and because that is the basis
[145]
for which they got the loan people were
[147]
unfairly enriched and given money that
[150]
they didn't deserve under the loan
[151]
program and people are already serving
[153]
prison terms for such fraud other ways
[156]
that you can commit the loan fraud is to
[158]
create documents out of thin air or make
[160]
up businesses that really didn't exist
[162]
what the government has shown is that
[164]
because there was so much money
[165]
available people were making up
[166]
businesses that really didn't exist
[168]
before the ppp loan program came into
[170]
being and so people wanted in on that
[173]
quick fast money they pretended like
[175]
they had a business that had been in
[176]
existence and that was suffering when
[178]
really there wasn't any employees number
[180]
four on our list is the things that you
[182]
should remember about ppp loan fraud is
[184]
this is a federal crime my partner and i
[187]
have been practicing federal criminal
[189]
defense for decades we have handled
[190]
hundreds and hundreds of federal
[192]
criminal cases and what you need to know
[194]
is there is no parole in the federal
[195]
system if you are sentenced to prison
[198]
you will go to prison and there is no
[200]
parole officer for you the fifth and
[202]
final thing you need to know about ppp
[204]
loan fraud is that the president of the
[206]
united states president biden in his
[209]
state of the union address just
[211]
yesterday on the 1st of march 2022 said
[214]
that his federal prosecutors are making
[216]
it a number one priority to prosecute
[219]
ppp loan fraud in fact he has appointed
[223]
a czar a guru a task force leader simply
[227]
for the purpose of prosecuting ppp loan
[230]
fraud i want to finish this video by
[232]
saying is if you are under investigation
[234]
even before a criminal case you need to
[237]
consult with a criminal defense attorney
[240]
preferably one that has federal criminal
[241]
defense experience you need to know
[244]
anything you say during the
[245]
investigative process if they're
[246]
investigating your loan application
[248]
could be used against you
[250]
in your federal criminal case you should
[252]
be consulting with a experienced federal
[255]
criminal defense lawyer from the moment
[258]
you have any concerns about being
[259]
investigated for federal ppp loan fraud
[262]
if you found this video helpful please
[264]
like subscribe and leave a comment if
[266]
you are unfortunately in the position
[268]
where you need a federal criminal
[269]
defense attorney because you believe you
[271]
are under investigation or a loved one
[272]
is you can click the link to our website
[274]
below we offer free consultations for
[276]
federal criminal cases until next time
[278]
remember always every time without a
[281]
doubt never ever ever not once don't
[284]
even think about it talk to the police
[286]
without your logging
[289]
[Music]
Most Recent Videos:
You can go back to the homepage right here: Homepage