The focus of a PPP loan fraud investigation is to determine whether charges should be brought against someone for violating one or more of the strict requirements of the PPP loan program. Generally, federal prosecutors have been targeting businesses and individuals who may have violated the PPP loan program by:
Making a false statement on the PPP loan application
Applying for PPP loans from multiple lenders (“loan stacking”)
Using PPP loan money for an improper or unapproved purpose
Submitting a false certification for PPP loan forgiveness
Not being truthful to agents during a PPP loan audit or investigation