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The US. Government Extends Statute of Limitations for PPP and EIDL Fraud to Ten Years

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PPP and EIDL fraud statutes of limitations extended

Recent legislation passed by Congress demonstrates that pandemic relief fraud enforcement will continue to be a priority in the coming years.

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— Anton S.

VANCOUNVER, BC, CANADA, February 1, 2023 /EINPresswire.com/ -- The US. Government Extends Statute of Limitations for PPP and EIDL Fraud to Ten Years.

The United States Department of Justice has announced extending the statute of limitations for PPP and EIDL fraud to ten years. This move comes as part of the department's ongoing efforts to crack down on fraud and abuse in the coronavirus pandemic relief programs.

"We are committed to aggressively pursuing those who seek to steal from American taxpayers," said Acting Assistant Attorney General Brian C. Rabbitt of the Justice Department's Criminal Division. "This extension will give us additional time to investigate and bring charges in these complex cases."

President Biden signed into law two bills that extend the time limit for civil and criminal actions against fraud on the Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) to ten years. The COVID-19 EIDL Fraud Statute of Limitations Act of 2022 and the PPP and Bank Fraud Enforcement Harmonization Act of 2022 were both passed by Congress with support from both parties.

The extended statute of limitations is essential in the DOJ's efforts to ensure that pandemic relief money goes where it is intended and is not stolen by criminals. The department has made significant progress in its investigations, with hundreds of criminal cases related to COVID-19 fraud filed since January 2020. In addition to extending the statute of limitations, the DOJ will continue to work with state and local authorities and other federal agencies such as the Small Business Administration and FBI to crack down on fraudsters.

Any person or entity found guilty of PPP, or EIDL fraud can face severe consequences, including fines, restitution payments, and lengthy prison sentences. By extending the statute of limitations for these crimes, the DOJ is sending a strong message that such conduct will not be tolerated. We hope this extension demonstrates our commitment to keeping relief funds out of criminals' hands and providing justice for those victimized by these unscrupulous schemes.

This extension of the statute of limitation provides additional time for investigators to identify and prosecute those responsible for PPP and EIDL fraud. We urge anyone with information about potential fraud in these programs to contact us immediately so that we can bring justice to victims of this crime. Together, let's ensure that taxpayer funds are used as intended - to help Americans during this difficult time.

"We are committed to aggressively pursuing those who seek to steal from American taxpayers," said Acting Assistant Attorney General Brian C. Rabbitt of the Justice Department's Criminal Division. "This extension will give us additional time to investigate and bring charges in these complex cases."

The extended statute of limitations will apply to all crimes related to the Paycheck Protection Program and the Economic Injury Disaster Loan program, including conspiracy, wire fraud, bank fraud, and money laundering. The DOJ urges anyone with information about potential fraud in these programs to contact the National Center for Disaster Fraud hotline at 1-866-720-5721 or disaster@leo.gov.

The ten-year time limit also gives the government more time to look into bigger fraud schemes and to think about looking into lenders on the theory that they may have helped fraud by not carefully reviewing loan applications. Companies and people who asked for and got government-funded pandemic relief money but haven't done their due diligence to make sure the money was received, used, and maybe even forgiven should do so now.

The consequences of being charged with PPP and EDIL fraud can be severe, from hefty financial penalties to potential imprisonment. As such, it's essential for anyone facing charges or even an investigation into these matters to seek professional help. Working with a qualified legal team is critical to understanding the full scope of the situation and developing a defence strategy that best suits an individual's needs.

Amicus International consulting, have a professional team of experienced attorneys and consultants who can provide expert advice and guidance on PPP and EDIL matters. There services cover all aspects of the legal process, from initial investigation to potential court proceedings. With there experience in fraud defence and vast network of professional contacts, they can provide tailored advice and support to help clients navigate the legal complexities of PPP and EDIL fraud cases.

Working with a company like Amicus International consulting will give a person facing serious legal ramifications to access professional resources, experienced guidance, and the best chances of success when facing a PPP or EDIL fraud charge. Get in touch today to learn more about there professional services.

Anton S
Amicus International Consulting
info@amicusint.org
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