Three companies based in California will pay a total of $530,000 to settle allegations that they violated Paycheck Protection Program (PPP) rules.
Settlement Reached in PPP Loan Fraud Case
The allegations claim each company violated the False Claims Act when they received and retained more than one PPP loan prior to December 31, 2020. PPP loans were first created in March 2020 as part of the CARES Act, with applicants required to certify that they would not receive more than one PPP loan before the end of that year.
