VIEWPOINTS: Civil and Criminal Prosecution of the Many Flavors of COVID-19 Relief Fraud Will Be Around for Years lawstreetmedia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lawstreetmedia.com Daily Mail and Mail on Sunday newspapers.
VIEWPOINTS: Civil and Criminal Prosecution of the Many Flavors of COVID-19 Relief Fraud Will Be Around for Years
Dan Eckhart
It’s not as if we needed another cautionary tale about good intentions colliding with unbridled greed. This time it is about the federal government’s multi-billion-dollar Paycheck Protection Program (PPP) and emergency lending from the Small Business Administration (SBA). PPP offers 1% loans meant to cover operating expenses, such as payroll, rent, and utilities, and is subject to forgiveness. Economic Injury Disaster Loans (EIDL) cover similar expenses but a company may not double dip by securing funds for the same expenses as covered by the company’s PPP loan.