Government Load Fraud

CONSULT WITH THE BEST SBA Loan Fraud Defense Lawyer

SBA loan fraud is a serious offense that has landed some small business owners in trouble with the government. While most business owners who apply to SBA programs and receive federal funds for their business use it in the way intended, some don’t.
Many people don’t know the ins-and-outs of the terms when they get an SBA loan.  But in court, not being knowledgeable of the law is not an excuse if you’ve been accused of committing a crime. So whether you intentionally made a mistake on your SBA loan application or purposefully try to commit fraud, there will be consequences.
If you have been accused of Federal Small Business Administration (SBA) loan fraud, there are a few steps you should take that can help you get through this situation.
Here’s what you need to know about SBA loan fraud and when to seek legal advice.

What IS SBA Loan FRAUD?

The Small Business Association, or SBA, is a government agency that provides financial and educational support to small business owners throughout the United States. The SBA backs small business owners and connects them with loan and grant opportunities through major banks. There are several types of SBA loan programs available.  Most Popular SBA Loan Programs:

  • SBA 504
  • SBA 7(a)
  • SBA Microloans
  • SBA Export Loans
  • Disaster Loans

A person or business is said to have committed loan fraud when they make false material statements to a federal agency or financial institution. If these untrue statements mislead a lender into giving a loan, it’s fraud.

WHAT IS AN EXAMPLE OF SBA LOAN FRAUD?

Obtaining an SBA loan illegitimately and/or misusing funds is considered SBA loan fraud. There are several different ways this fraud could be committed.
Creating a fake business to apply for SBA loan funding.

  • Making false statements about a legitimate business to acquire SBA loan approval.
  • Applying for an SBA loan without the intention of repaying it.

Joseph Foistner, a former attorney in New Hampshire, was sentenced to 4 years in federal prison for fraud against the SBA. His crimes included lying on multiple SBA loan applications to apply for over 8 million dollars in federal assistance.

What are the POSSIBLE CONSEQUENCES for SBA Loan Fraud?

There are different consequences based on the fraud you or your business have been accused of committing.
Acts involving loan fraud fall under specific statutes. If you go to trial, a prosecutor could seek criminal charges for false statements made on your loan application, to the SBA, or a federal agency.
You could rack up additional charges like mail fraud if you use the mail system for your application. If convicted of loan application fraud, you could face up to 30 years in prison and pay a possible fine of up to $1,000,000.
A false statement to the SBA to get a loan is considered a two-year felony and violators have to pay a fine of up to $5,000. Making a false statement to a federal agency comes with a maximum penalty of five years in prison and $250,000 if convicted.
On top of all these consequences having a criminal record with charges for federal funds fraud could prevent you from qualifying for an SBA loan in the future.

How Can an SBA Loan Fraud Defense Lawyer Fight YOUR CHARGES?

The prosecution will need to prove beyond a doubt that you knowingly and willing committed fraud against the SBA. Prosecutors will be required to demonstrate that your false statements and/or other fraudulent acts were committed with the intent to deceive and that damages resulted from these actions.
An SBA loan fraud defense lawyer will need to create a solid defense strategy that causes reasonable doubt. Several strategies may be utilized that a criminal defense attorney with experience will know how to use effectively. 

Strong Defense Strategies for SBA Loan Fraud:

  • Innocent Mistake
  • Lack of Intent
  • Coercion

Which of these strategies would be the most effective will depend on the unique factors in your case.

The prosecution will need to prove beyond a doubt that you knowingly and willing committed fraud against the SBA. Prosecutors will be required to demonstrate that your false statements and/or other fraudulent acts were committed with the intent to deceive and that damages resulted from these actions.
An SBA loan fraud defense lawyer will need to create a solid defense strategy that causes reasonable doubt. Several strategies may be utilized that a criminal defense attorney with experience will know how to use effectively. 

Contact Gregg Gallian, Top SBA Loan Fraud Defense Lawyer

The prosecution knows which attorneys will fight for their clients. They know who they don’t want to face in a courtroom. 
Choose the best criminal defense lawyer who is experienced in the federal courtroom to beat serious allegations of SBA loan fraud.
Gregg Gallian is an experienced SBA loan fraud defense attorney and will build a fierce defense to fight for you. Reach out today for a free case evaluation.

Do You Know What to Do Next if Charged with SBA Loan Fraud?

SBA Loan Fraud comes with federal charges, and knowing what to do in this type of situation can make all the difference. An experienced criminal defense attorney  like Gregg Gallian can help you understand the best way to protect your rights and build your defense case.
Facing Federal Small Business Administration loan fraud charges is unsettling. That’s why we are here to help you in your time of need. Our trusted team of lawyers will go to work on your behalf.
Reach out for a free case review and get the peace of mind you deserve!
Are you facing charges for SBA loan fraud? SBA loan fraud is a federal crime may result in steep penalties if convicted, including decades behind bars. You need the best SBA loan fraud defense lawyer in your corner to defend you against these serious charges.  One important first step is to reach out to a qualified, experienced, winning defense lawyer in Dallas like Gregg Gallian at Gallian Firm.  In no time at all, Gregg Gallian will provide a free consultation and case review of your situation.  SBA fraud is nothing to play around with.  A free consultation is a good first step. 

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