Mayday For PPP Borrowers – Having To Choose Between Possible Insolvency Or Risking Criminal Prosecution

Mayday For PPP Borrowers – Having To Choose Between Possible Insolvency Or Risking Criminal Prosecution

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As discussed in our blog post dated May 4, 2020, individuals and businesses that received PPP loans and did not qualify by having the loan be “necessary to support the ongoing operations of the business” now have until May 14 to return the monies in order to receive full amnesty for all civil and criminal exposures associated therewith.

It is noteworthy that at least two…

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