California Partner Interviews with The New York Times on Paycheck Protection Program Fraud
In an interview with The New York Times, Tyler Woods explains why confusion exists for employer spending from the Paycheck Protection Program. The article highlights recent examples of fraudulent spending but also dives into on murky area of the law – companies taking loans they didn’t need. It its formal guidance, the Treasury Department said borrowers must be able to show that they could not get access to other loans of cash sources in a way that was “not significantly detrimental to the business.” Tyler says it’s a really gray standard.
To read the full article, visit The New York Times.