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Miami SBA Fraud Lawyer

Inflating income, falsifying bank statements, and creating false work history records are all forms of fraud. If you have information about your employer engaging in any of these types of behavior, you may be entitled to a substantial sum in compensation for acting as a federal whistleblower. The whistleblower program was created to help decrease theft, and ensure that taxpayer’s money is spent correctly, not funneled into the hands of white collar criminals. Whether you simply have questions about the potentially unsavory acts of your employer, you know for sure of a party that is engaging in Small Business Association fraud, we can help. An experienced Miami SBA fraud lawyer can guide you through what steps to take if you notice fraudulent activities within a small business.

History of the SBA and Recent Covid-19 Developments

The U.S. Small Business Association (SBA) was created in 1953 as a way to protect small businesses across the country by providing entrepreneurial development and advocacy along with helping small businesses obtain government contracts and access loans. It is with these last two objectives that fraud can become an issue.

According to Politico, the SBA doled out $192 billion in Economic Injury Disaster Loans, $20 billion of related disaster grants, and $525 billion worth of forgivable loans under the Paycheck Protection Program (PPP) since the Covid-19 pandemic began. CNBC reported a year into the pandemic that estimated fraud from pandemic relief could reach upwards of $84 billion dollars. If you are aware of fraud, it is important to report it to the SBA. You may even be entitled to a reward for reporting it.

Examples of SBA Fraud

Obtaining a government contract can be a sign of success and offer stability to a company because these contracts are often quite large. This can lead a

  • Falsifying financial records or bank statements;
  • Inflating income;
  • Altering tax documents or records;
  • Forging signatures on documents such as checks;
  • Concealing liabilities for gain;
  • Creating false work histories;
  • Failing to disclose true ownership of a company; and
  • More.

Whistleblowers Can Be Rewarded For Reporting Fraud

If an individual reports fraud to the Office of the Inspector General (OIG) and they decide to take the case, there may be reward money available in the form of a lawsuit (in which you file on behalf of the federal government). By helping the government with information about fraudulent small business activity, a person may be rewarded up to 30 percent of the money recovered in the case.

Talk with a Miami SBA Fraud Attorney About What Steps to Take Next

If you suspect that your employer or another party has engaged in fraudulent activities, you may be able to act as a whistleblower for the federal government. By working with an experienced Miami SBA fraud attorney, you may be in the position to not only help stop an illegal act, but also be heavily compensated for your services. We strongly encourage you to contact the Miami SBA attorneys at Spencer Morgan Law today at 305-423-3800 to schedule a free consultation.

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