By Aaron Nicodemus2022-09-14T17:57:00
A Houston-based regional bank will pay approximately $18,700 to resolve allegations it processed a Paycheck Protection Program (PPP) loan for an ineligible recipient in what is believed to be a landmark False Claims Act settlement.
Prosperity Bank, which holds $37.4 billion in assets across more than 270 banking locations in Texas and Oklahoma, processed a $213,400 PPP loan in May 2020 for a customer that bank employees knew was facing criminal charges, according to a press release issued Tuesday by Jennifer Lowery, U.S. attorney for the Southern District of Texas.
The bank received a $10,670 fee “to which it was not entitled” for processing the improper loan, the press release said.
2023-01-25T17:19:00Z By Aaron Nicodemus
The Federal Reserve Board fined New York-based Popular Bank $2.3 million for processing Paycheck Protection Program loans despite finding significant indications of possible fraud in the loan applications.
2022-11-29T13:39:00Z By Adrianne Appel
The Department of Justice requested Rennova Health repay Covid-19 relief funds it received in 2020 as part of a whistleblower lawsuit against the healthcare services provider alleging ineligible use of the money.
2022-09-26T19:23:00Z By Aaron Nicodemus
A Florida-based investment fund will pay approximately $22,000 as part of a settlement resolving the first False Claims Act whistleblower case involving a Paycheck Protection Program loan in which the United States intervened.
2025-07-22T17:42:00Z By Ian Sherr
The Securities and Exchange Commission is awarding far fewer whistleblower claims, according to Bloomberg Law, which noted the commission denied awards for the entire period between April and July, the longest stretch in the program’s history.
2025-07-21T18:54:00Z By Oscar Gonzalez
The firing of a Democrat commissioner of the U.S. Federal Trade Commission by President Donald Trump was illegal, according to a federal judge’s ruling last week.
2025-07-16T20:11:00Z By Oscar Gonzalez
Delta Air Lines agreed to pay $8.1 million over allegations it violated the False Claims Act by exceeding employee compensation limits it agreed to when taking federal pandemic aid money.
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