On January 12, 2021, the U.S. Department of Justice (DOJ) announced the first civil settlement to arise out of the Paycheck Protection Program (PPP).  Internet retailer SlideBelts Inc. and its president and CEO, Brigham Taylor, have agreed to pay $100,000 in damages and penalties to resolve allegations that they obtained a $350,000 PPP loan by falsely representing to bank lenders when they applied for the forgivable loan that the company was not in bankruptcy, when in fact it was.  The loan proceeds have already been repaid to the lender. The PPP was part of the CARES Act passed in March… Read more