Federal and state governments have directed the law enforcement to prioritize investigations of fraud schemes arising out of the coronavirus emergency. The U.S. Attorney General has directed Department of Justice to make prosecuting COVID-19 fraud a significant priority. The Texas Attorney General has also made prosecuting fraud and price gouging related to the coronavirus pandemic a top law enforcement priority.
What Is COVID-19 Fraud?
Fraud schemes generally involve a material misstatement, misrepresentation or omission relating to a good or service that is presented to and relied upon in making a decision whether to purchase a product, fund a loan, or provide insurance. In some cases, the “scheme” may involve an agreement between an industry insider or insiders— to siphon money or equity out of a transaction.
A critical fact in any fraud case is whether the fraudulent statement is “material;” whether the allegedly harmed party knew about the falsehood; and whether the alleged victim conducted a diligent review before executing its decision.
Payment Protection Plan Fraud
The Small Business Administration’s Payment Protection Plan, a creation of the Coronavirus Aid, Relief, and Economic Security Act or the CARES Act, creates potential for fraud investigations and enforcement actions by the federal government. Unclear lending applications, regulations, and directions by lenders created uncertainty about information required on loan forms. There continues to be confusion about how and when the loans will be repaid or forgiven. There is also uncertainty as to the status of PPP loans in relation to other loans, mortgages, and lines of credit a small business may have or require in the future. These uncertainties may unwittingly expose small businesses to federal criminal investigations.
Texas COVID-19 Fraud Defense Attorneys
White collar fraud cases are often complex, since they may involve prior civil litigation and large amounts of “paper.” Thus, these cases require significant document review so that the attorney understands the facts and can present a viable defense. These cases frequently involve large amounts of alleged “loss” that, at the federal level, could expose a defendant to lengthy sentences. Loss calculations in and fraud cases require knowledgeable attorneys that understand how to lower or offset “loss” and thus limit a defendant’s prospective sentence.
As stated above, frauds may be prosecuted by federal or state authorities. Often, the prosecution alleges conspiracy, but the crime may also involve bank fraud, false statements to federally backed institutions, mail and wire fraud. Significantly, frauds that affect a federally insured financial institution have a 10-year statute of limitations.
Contact Us To Start Building Your Defense
Hilder & Associates, P.C. is a law firm dedicated to defending the rights of individuals and businesses accused of Covid-19 fraud. The firm is comprised of experienced attorneys who are well-versed in the complex legal issues surrounding Covid-19-related charges. Their goal is to provide clients with the highest quality legal representation possible, ensuring that their rights are protected and their interests are served.
At Hilder & Associates, P.C., the attorneys understand that Covid-19-related charges can have serious consequences, both personally and professionally. As such, they work tirelessly to develop a comprehensive defense strategy tailored to each client’s unique situation. The firm’s attorneys have the skills, knowledge, and experience necessary to navigate the complexities of Covid-19 fraud cases, including those related to Paycheck Protection Program (PPP) loans, Economic Injury Disaster Loans (EIDL), and other Covid-19 relief programs.
With a commitment to integrity, professionalism, and client service, the attorneys at Hilder & Associates, P.C. strive to achieve the best possible outcome for each and every client. Whether through negotiation, litigation, or trial, they are dedicated to protecting the rights and interests of those accused of Covid-19 fraud. If you or your business is facing Covid-19-related charges, Hilder & Associates, P.C. is ready to help you defend your rights and protect your future. Contact our fraud defense attorneys today.