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Prosperity Bank—which operates in Texas and Oklahoma—has agreed to pay more than $18,600 for allegedly processing a Paycheck Protection Program loan for Woodlands Pain Institute PLLC, which was ineligible for it. Prosperity Bank employees were aware that Woodlands owner Dr. Emad Bishai was facing criminal charges over his opioid prescriptions, but accepted and processed a $213,400 loan application on which he indicated that he was free of any criminal charges. In doing so, the bank received a 5% processing fee of over $10,600. Bishai previously agreed to pay more than $523,000 to resolve allegations of fraudulent billing and the PPP application.
Source:
- Department of Justice: First-Ever False Claims Act Settlement Received from Paycheck Protection Program Lender
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