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Government Loan Programs

This archive displays posts tagged as relevant to fraud in government loan programs. You may also be interested in the following pages:

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A better approach to stop feeding the fraudsters with CARES Act relief

Posted  10/29/20
By Gordon Schnell
blue gloves holding a mask
(Published in Tennessean) The federal government has yet to come up with an appropriate answer for the feeding frenzy of fraud that is looming with billions in CARES Act funding in play and trillions more likely on the way. Despite its best efforts, the government loses tens of billions of dollars from fraud every year, much of it committed by the very same companies now benefitting from CARES Act relief. Unless...

Tagged in: CC Lawyers, COVID-19, Government Loan Programs, Government Programs Fraud, Healthcare Fraud,

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COVID Frauds of the Week: Fraudulently Claiming PPP Loans

Posted  10/2/20
person following a trail of money
This week, DOJ took action against two large alleged frauds on the Paycheck Protection Program.  In Hawaii and North Carolina, individuals were charged with fraudulently claiming loans from the critical relief program. In North Carolina, Tristan Pan found himself charged with wire and bank fraud, plus unlawful monetary transactions, for an alleged scheme to get bogus PPP loans.  He allegedly cooked up a series of...

Tagged in: COVID-19, Financial and Investment Fraud, Government Loan Programs, Government Programs Fraud, Misrepresentations,

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September 28, 2020

Lakeway Regional Medical Center, LLC, together with affiliated parties Surgical Development Partners LLC, Surgical Development Partners of Austin Enterprises LLC, G. Edward Alexander, Frank Sossi, and John Prater, will pay $15.3 million to resolve allegations under the False Claim Act arising from the development of the hospital.  Defendants were alleged to have made numerous false statements in applying for a federally-insured mortgage loan for construction of the hospital, including overstating physician support for the hospital and understating other credit risks.  Specifically, while some investors had requested refunds, defendants delayed making those refunds in order to overstate cash on hand, and, after the mortgage funds were obtained, defendants distributed them in contravention of FHA requirements.  The hospital later defaulted on the loan. The government previously settled with other defendants.  DOJ 

Tagged in: FCA Federal, Government Loan Programs, Hospital Fraud,

COVID Frauds of the Week: More PPP and PPE Fraudsters, and an Update

Posted  09/17/20
hundred dollar bill zoomed in
Attorney General William P. Barr announced the results of his Payroll Protection Program (PPP) Criminal Fraud Enforcement Action this week, and noted that as of August 8, 2020, over 5.2 million loans had been approved, with a total federal expenditure of over $525 billion in federal business support expenditures. The downside is that Paycheck Protection Program fraudsters have cost the government over $70 million in...

Tagged in: COVID-19, Financial and Investment Fraud, Government Loan Programs,

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Top Takeaways from Former DOJ Civil Chief Jody Hunt on the Current State of False Claims Act Enforcement

Posted  08/28/20
department of justice website
Law360 recently interviewed former DOJ Civil Chief Jody Hunt on what he sees as the key issues surrounding False Claims Act enforcement these days.  Here are the top takeaways:
    • COVID-relief fraud will be a DOJ priority. No surprise there given the billions of dollars the federal government is pouring into the economy to alleviate some of the financial strain the pandemic is wreaking on healthcare providers...

Tagged in: Anti-Kickback and Stark, COVID-19, Electronic Health Records, FCA Federal, Government Loan Programs, Home Health and Hospice, Importance of Whistleblowers, Risk Adjustment Fraud, Whistleblower Eligibility,

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COVID Frauds of the Week: More Price Gouging and PPP Fraud

Posted  08/21/20
money in a spiral form with a bankroll of cash on top
As the COVID-19 pandemic remains omnipresent in our daily lives, so too do the fraudsters who seek to capitalize on the crisis and line their own pockets.  Fortunately, government regulators have remained vigilant in rooting out fraud and protecting the public.   Just in the past week, federal prosecutors have busted two large schemes seeking to profit off other's pain. First, the U.S. Attorney’s Office for...

Tagged in: COVID-19, Government Loan Programs, Government Programs Fraud, Pricing Fraud,

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COVID Frauds of the Week: Fraud on Stimulus Programs and Consumers

Posted  07/31/20
handcuffs on a gavel with money scattered around
Like the virus itself, fraud that exploits the COVID-19 pandemic just will not go away, so we are back with another installment of our continuing series highlighting related government enforcement actions.  This week, we saw a continued enforcement focus in two areas: fraud on stimulus programs and consumers.

Stimulus Fraud

Three charges this week highlighted the government’s ongoing efforts to expose and bring...

Tagged in: Catch of the Week, COVID-19, Criminal Proceedings, Government Loan Programs, Government Programs Fraud, Healthcare Fraud,

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COVID Frauds of the Week: Fraud on the PPP

Posted  06/26/20
hundared dollar bill zoomed in to president's face
This week’s COVID-19 frauds centered on (temporarily) successful attempts to receive Paycheck Protection Program (PPP) funds for nonexistent companies and fabricated or inflated employee headcounts. First up is the owner of a wedding planning company that sought personal enrichment via more than $3 million in forgivable PPP loans for his 120 nonexistent employees. Fahad Shah, 44, of Murphy, Texas, was arrested...

Tagged in: Catch of the Week, COVID-19, FCA Federal, Financial and Investment Fraud, Financial Institution Fraud, Government Loan Programs, Importance of Whistleblowers, Legislation and Regulation News,

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COVID Frauds of the Week: PPP, PPE, and More

Posted  05/29/20
discarded mask and glove on ground
As the COVID-19 pandemic continues to batter businesses and everyday Americans, it has been one of the busiest weeks yet for the government agencies stopping fraudsters who target government relief programs.  In new cases filed this week, the government has gone after alleged bogus sales and price gouging of PPE, new frauds on the Paycheck Protection Program (PPP), healthcare fraud, and more.

Secret Service Busts...

Tagged in: Catch of the Week, COVID-19, Government Loan Programs, Importance of Whistleblowers, Whistleblower Eligibility,

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COVID Frauds of the Week: More Fraud on the PPP

Posted  05/22/20
accountant
As we enter our third month of nation-wide shelter-in-place efforts, fraudsters continue to exploit government relief programs. For the second week in a row, the Eastern District of Texas DOJ is going after a purported small business owner for defrauding the Paycheck Protection Program (PPP). Samuel Yates has been charged with wire fraud, bank fraud, and making false statements for allegedly submitting fraudulent loan...

Tagged in: Catch of the Week, COVID-19, Government Loan Programs, Importance of Whistleblowers, Whistleblower Eligibility,

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