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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

  • work Practice Area

    Corporate Law

Date & Time
  • event Date

    Wednesday, August 31, 2022

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$297.00
CLE
ALL

This CLE webinar will advise corporate counsel on the current Department of Justice (DOJ) investigations of fraud in Paycheck Protection Program (PPP) applications. The panel will address the potential criminal and civil enforcement actions against businesses and owners who fraudulently applied for and received these emergency loans.

Faculty

Ronald G. DeWaard
Partner
Varnum LLP

Mr. DeWaard is a trial lawyer and former federal prosecutor who currently serves as chair of the firm. He concentrates his practice in civil and white collar litigation, as well as internal investigations. Mr. DeWaard is a fellow in the American College of Trial Lawyers, a member of the American Board of Trial Advocates, and has been recognized as one of Michigan’s top lawyers by Best Lawyers®, Super Lawyers®, Benchmark Litigation©and by Michigan Lawyers Weekly as a Leader in the Law. Prior to his election as chair, he led the firm’s Litigation and Trial Practice Team.

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Gary J. Mouw
Partner
Varnum LLP

Mr. Mouw's practice is primarily focused on representing companies and individuals – in Michigan and across the country – in connection with government enforcement actions and white collar criminal defense. He has extensive experience conducting internal investigations in a wide range of matters, including antitrust claims, False Claims Act suits and environmental matters. Mr. Mouw's has represented clients in investigations conducted by the United States Department of Justice, the United States Attorney’s Offices throughout the country, the United States Department of Defense and State Attorney General’s Offices. Moreover, he recently served as a member of the team assembled by the Independent Monitor appointed by the United States Attorney’s Office for the Southern District of New York responsible for monitoring General Motors’ obligations under a Deferred Prosecution Agreement arising out of the ignition switch crisis.

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Description

The DOJ has started investigating and subsequently confirmed that the Paycheck Protection Program (PPP) was the subject of persistent fraud, possibly totaling $80 billion in fraudulent loans. Federal prosecutors call this theft of taxpayer money "the largest fraud in U.S. history" as it represents approximately 10 percent of the $800 billion handed out to small businesses during the pandemic.

During the DOJ's pursuit of PPP fraud prosecutions, the government may find it difficult to distinguish between borrowers that intended and affirmatively acted to commit fraud and those that were well-intentioned but failed to comply with the federal relief program. Many unwitting borrowers may find themselves caught in the DOJ's fishnet of fraud charges. Business owners who received PPP funds must immediately evaluate their compliance and potential exposure as the target of a federal investigation.

Listen as our expert panel discusses the government's process for identifying and investigating potential fraud and the status of PPP loan fraud prosecution. The panel will also provide best practices for responding to a Request for Information related to pandemic relief funds and what steps to mitigate noncompliance and address corrective measures before an investigation begins.

Outline

  1. Paycheck Protection Program
    • History
    • DOJ investigations
      • Prior prosecutions
    • Civil penalties
    • Criminal penalties
    • Mitigate noncompliance
  2. Other best practices

Benefits

The panel will discuss these and other relevant topics:

  • How is the DOJ distinguishing between intentional fraud and poor business decision-making?
  • What are the potential civil and criminal penalties for PPP loan fraud?
  • What steps can businesses take to mitigate noncompliance and potential PPP loan fraud exposure?