A Hollywood producer is the latest in a string of arrests made in the U.S. Justice Department’s efforts to locate and prosecute COVID-19 fraud. William Sadleir of Beverly Hills is accused of making false statements on his Payroll Protection Program application and using those funds for unauthorized purposes.
Bank Fraud and False Statements in PPP Loan Application
Applying for the PPP Loan Program using false or inaccurate information can be charged as bank fraud for making false statements using 18 U.S.C. §1001. Section 1001 which makes it a federal crime to knowingly or willfully make a false representation, or to file a document known to contain a false statement, to an agency of the executive branch, which includes the SBA.
Statute of Limitations for COVID-19 Fraud
The statute of limitations for bank fraud is ten (10) years. While some fraud committed during this uncertain time may go undetected for a few years, the DOJ has ten years to investigate and charge for COVID relief and PPP Loan Fraud. The most brazen instances of fraud will be charged first followed by the less obvious. COVID-19 fraud