Criminal Defense Lawyers

Riverside PPP – SBA – EIDL Loan Fraud Lawyers

The COVID-19 pandemic brought much needed financial relief to small businesses through the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) program. But it also opened the door for fraudsters trying to take advantage of the rushed loan programs. Many business owners in Riverside and nationwide are now facing accusations of PPP or EIDL fraud. If this happens to you, working with an experienced legal team is critical to protect your rights and avoid criminal charges.

Understanding PPP and EIDL Fraud

When the pandemic hit in 2020, the Small Business Administration (SBA) had to quickly roll out the PPP and EIDL programs to help struggling companies. More than $800 billion was loaned out through these programs in just a couple years.

To speed things up, the SBA reduced its normal fraud checks and made it easy for applicants to self-certify their eligibility. This lack of verification made it tempting for scammers to apply for loans by exaggerating their payroll, employees, or revenue losses.

Some common types of PPP and EIDL fraud include:

• Using stolen identities or fake businesses
• Claiming more employees than the business really had
• Lying about revenue losses from COVID-19
• Using PPP funds for personal purchases instead of payroll
• Applying for multiple EIDL loans for the same business

The SBA Inspector General estimates that over $200 billion may have been fraudulently obtained through these programs. They are now investigating hundreds of thousands of suspicious applications.

Riverside PPP and EIDL Investigations

In Riverside specifically, federal prosecutors have been filing charges against multiple individuals and groups accused of PPP or EIDL fraud over the past couple years. Some examples include:

• A Corona man who got over $500,000 in PPP loans using fake employee names like “Patty O’Furniture” and “Mike Rotch.”
• Two brothers in Riverside who submitted 18 fraudulent PPP and EIDL loan applications worth over $1.1 million.
• A San Jacinto pastor accused of getting $300,000 in PPP loans and using the money to buy himself a Bentley.

These are just a few examples of the COVID relief fraud cases being pursued in the Riverside area. State and federal investigators are aggressively going after individuals and groups they suspect of exploiting these emergency loan programs.

Christine Twomey

2024-03-21

Just had my Divorce case settled 2 months ago after having a horrible experience with another firm. I couldn’t be happier with Claire Banks and Elizabeth Garvey with their outstanding professionalism in doing so with Spodek Law Group. Any time I needed questions answered they were always prompt in doing so with all my uncertainties after 30 yrs of marriage.I feel from the bottom of my heart you will NOT be disappointed with either one. Thanks a million.

Brendan huisman

2024-03-18

Alex Zhik contacted me almost immediately when I reached out to Spodek for a consultation and was able to effectively communicate the path forward/consequences of my legal issue. I immediately agreed to hire Alex for his services and did not regret my choice. He was able to cover my case in court (with 1 day notice) and not only was he able to push my case down, he carefully negotiated a dismissal of the charge altogether. I highly recommend Spodek, and more specifically, Alex Zhik for all of your legal issues. Thanks guys!

Guerline Menard

2024-03-18

Thanks again Spodek law firm, particularly Esq Claire Banks who stood right there with us up to the finish line. Attached photos taken right outside of the court building and the smile on our faces represented victory, a breath of fresh air and satisfaction. We are very happy that this is over and we can move on with our lives. Thanks Spodek law 🙏🏼🙏🏼🙏🏼🙏🏼🙌🏼❤️

Keisha Parris

2024-03-15

Believe every single review here about Alex Z!! From our initial consultation, it was evident that Alex possessed a profound understanding of criminal law and a fierce dedication to his clients rights. Throughout the entirety of my case, Alex exhibited unparalleled professionalism and unwavering commitment. What sets Alex apart is not only his legal expertise but also his genuine compassion for his clients. He took the time to thoroughly explain my case, alleviating any concerns I had along the way. His exact words were “I’m not worried about it”. His unwavering support and guidance were invaluable throughout the entire process. I am immensely grateful for Alex's exceptional legal representation and wholeheartedly recommend his services to anyone in need of a skilled criminal defense attorney. Alex Z is not just a lawyer; he is a beacon of hope for those navigating the complexities of the legal system. If you find yourself in need of a dedicated and competent legal advocate, look no further than Alex Z.

Taïko Beauty

2024-03-15

I don’t know where to start, I can write a novel about this firm, but one thing I will say is that having my best interest was their main priority since the beginning of my case which was back in Winter 2019. Miss Claire Banks, one of the best Attorneys in the firm represented me very well and was very professional, respectful, and truthful. Not once did she leave me in the dark, in fact she presented all options and routes that could possibly be considered for my case and she reinsured me that no matter what I decided to do, her and the team will have my back and that’s exactly what happened. Not only will I be liberated from this case, also, I will enjoy my freedom and continue to be a mother to my first born son and will have no restrictions with accomplishing my goals in life. Now that’s what I call victory!! I thank the Lord, My mother, Claire, and the Spodek team for standing by me and fighting with me. Words can’t describe how grateful I am to have the opportunity to work with this team. I’m very satisfied, very pleased with their performance, their hard work, and their diligence. Thank you team!

Anthony Williams

2024-03-12

Hey, how you guys doing? Good afternoon my name is Anthony Williams I just want to give a great shout out to the team of. Spodek law group. It is such a honor to use them and to use their assistance through this whole case from start to finish. They did everything that they said they was gonna do and if it ever comes down to it, if I ever have to use them again, hands-down they will be the first law office at the top of my list, thank you guys so much. It was a pleasure having you guys by my side so if you guys ever need them, do not hesitate to pick up the phone and give them a call.

Loveth Okpedo

2024-03-12

Very professional, very transparent, over all a great experience

Bee L

2024-02-28

Amazing experience with Spodek! Very professional lawyers who take your case seriously. They treated me with respect, were always available, and answered any and all questions. They were able to help me very successfully and removed a huge stress. Highly recommend.

divesh patel

2024-02-24

I can't recommend Alex Zhik and Spodek Law Firm highly enough for their exceptional legal representation and personal mentorship. From the moment I engaged their services in October 2022, Alex took the time to understand my case thoroughly and provided guidance every step of the way. Alex's dedication to my case went above and beyond my expectations. His expertise, attention to detail, and commitment to achieving the best possible outcome were evident throughout the entire process. He took the time to mentor me, ensuring I understood the legal complexities involved to make informed decisions. Alex is the kind of guy you would want to have a beer with and has made a meaningful impact on me. I also want to acknowledge Todd Spodek, the leader of the firm, who played a crucial role in my case. His leadership and support bolstered the efforts of Alex, and his involvement highlighted the firm's commitment to excellence. Thanks to Alex Zhik and Todd Spodek, I achieved the outcome I desired, and I am incredibly grateful for their professionalism, expertise, and genuine care. If you're in need of legal representation, look no further than this outstanding team.

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Google rating score: 4.9 of 5, based on 736 reviews

What To Do If You’re Under Investigation

If your business receives a subpoena, audit letter, or visit from SBA investigators about potential PPP or EIDL fraud, take it very seriously. Here are some tips on how to respond:

• Be cooperative but avoid volunteering too much information before talking to a lawyer.
• Begin gathering documentation on your loan applications and use of funds.
• Consult an experienced white collar criminal defense attorney as soon as possible.
• Have your lawyer communicate with investigators on your behalf going forward.
• Follow your lawyer’s advice about whether to participate in interviews with investigators.

It’s important not to panic or overreact, but also not to ignore inquiry letters or subpoenas. An experienced financial fraud lawyer can advise you on how to respond to avoid making your situation worse.

Riverside White Collar Criminal Defense Lawyers

If your business or one of your employees is being investigated for potential PPP or EIDL fraud, it’s important to consult an experienced white collar criminal defense attorney right away. At our law firm, we represent individuals and companies accused of SBA loan fraud across Riverside and Southern California.

Our legal team can help with tasks like:

• Negotiating with investigators to avoid charges when possible
• Contesting subpoenas or contesting evidence improperly obtained
• Presenting defenses to demonstrate your innocence
• Navigating plea agreements and sentencing guidelines if charges are filed

We understand these complex financial fraud cases and the wide-ranging penalties defendants face. Our goal is to resolve your case as favorably as possible, protecting your freedom, finances, and reputation.

Don’t wait to seek experienced legal counsel if you receive notice of a PPP or EIDL fraud investigation. Call our Riverside white collar criminal defense lawyers today for a free consultation.