Are Foreign Employees Included in Calculating Size for PPP’S 500-Employee Size Standard? New Guidance...
Morrison Foerster - As many companies are likely aware by now, Small Business Administration (SBA) loans under the Paycheck Protection Program (PPP) provide aid...
False Claims Act Exposure for Beneficiaries of the Public Health and Social Services Emergency...
The CARES Act allocated $100 billion to healthcare providers, to be distributed by HHS through the Public Health and Social Services Emergency Relief Fund....
M&A Considerations Regarding CARES Act Loan Programs and Other Relief
Morrison Foerster - In recent weeks Congress has authorized funding for a number of programs intended to provide relief to small- and medium-sized businesses...
DOJ Brings First Payroll Protection Program-Related Criminal Case
On May 5, the Justice Department filed charges in District Court against David A. Staveley and David Butziger in connection with loan applications made...
Rear View Mirror: Criminal Exposure for Companies that Received PPP Loans Under the CARES...
In response to complaints that large publicly-traded companies had received loans through the SBA’s Paycheck Protection Program, Treasury Secretary Mnuchin announced that companies receiving loans of more than $2 million would be subjected to a full review before being forgiven, and that the Small Business Administration would audit the business when it applied for forgiveness […]
Compliance in a Time of Crisis
The COVID-19 pandemic has companies facing unprecedented financial and operational challenges. Given these challenges, many companies may be forced to shift stretched resources and attention away from key business and operational units, including compliance. In doing so, however, past crises show the vital importance of maintaining an ethical culture and focusing resources and attention on […]
Reckoning (and a May 7 “Mulligan”) On The Horizon For Paycheck Protection Program Abusers
The Paycheck Protection Program allows small businesses to borrow two months’ worth of payroll costs, a loan that will be forgiven if 75 percent is used for payroll costs and 25% to pay rent and utilities. But the federal government is indicating that it will scrutinize borrowers for abuse under the False Claims Act and […]
Will COVID-19 “Crony Charities” Trigger the Next Wave of FCPA Fumbles?
There are reports that businesses and individuals in some countries are under pressure to donate to COVID-19 relief charities that have close ties to government officials, such as Kazakhstan’s deputy prime minister and Uzbekistan’s president. Richard L. Cassin warns that these may be just the first instances, and notes that two of last year’s biggest […]
Watchdog Examining Dozens of Federal Coronavirus Whistleblower Cases
Thirty-one federal whistleblower disclosures related to the coronavirus have been filed with the U.S. Office of Special Counsel, a federal agency where government employees can officially blow the whistle on alleged wrongdoing. In addition, 15 federal whistleblowers have filed official complaints of retaliation for disclosing coronavirus-related concerns. For example, an HHS employee claims that he […]
A Month In, Congress Signals Close Scrutiny of CARES Act and Paycheck Protection Program
The CARES Act is only a month old, but plans for investigations to track the nearly $3 trillion in coronavirus relief funds are already emerging from Congress. Among the mechanisms for oversight created and funded by the CARES Act itself is the Congressional Oversight Commission, a five-member committee overseeing $500 billion in loans doled out […]