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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2022-09-26T19:23:00
A Florida-based investment fund will pay approximately $22,000 as part of a settlement resolving the first False Claims Act (FCA) whistleblower case involving a Paycheck Protection Program (PPP) loan in which the United States intervened.
Pan African Interchange and its owner, Stanley Damas, applied for two PPP loans on consecutive days in May 2020 and received the two loans in June 2020, according to a Thursday press release from U.S. Attorney Juan Antonio Gonzalez of the Southern District of Florida. The business had falsely certified it would not receive more than one PPP loan, the Justice Department stated.
Pan African Interchange and Damas repaid $208,332 to the United States, which was the proceeds of the second PPP loan it received. Under the settlement, the firm and Damas must pay an additional $21,583.
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2023-01-25T17:19:00Z By Aaron Nicodemus
The Federal Reserve Board fined New York-based Popular Bank $2.3 million for processing Paycheck Protection Program loans despite finding significant indications of possible fraud in the loan applications.
2022-11-29T13:39:00Z By Adrianne Appel
The Department of Justice requested Rennova Health repay Covid-19 relief funds it received in 2020 as part of a whistleblower lawsuit against the healthcare services provider alleging ineligible use of the money.
2022-09-14T17:57:00Z By Aaron Nicodemus
Houston-based Prosperity Bank will pay approximately $18,700 to resolve allegations it processed a Paycheck Protection Program loan for an ineligible recipient in what is believed to be a landmark False Claims Act settlement.
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Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
2024-07-02T14:42:00Z By Adrianne Appel
A home health company operating in Indiana, Ohio, and Texas agreed to pay nearly $4.5 million to settle allegations it filed false claims by giving sports tickets and other kickbacks to assisted living facilities in exchange for referrals.
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Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
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