" and even criminal liability if they didn't really need the government money. Mnuchin's warning came at the height of an uproar last month over large companies using the PPP. Companies that could raise money elsewhere were given a deadline to return the funds.in a CNBC interview on April 28. "It's the borrowers who have criminal liability if they made this certification and it's not true.
"I don't see anybody being convicted for this, honestly," said Scott Pearson, a partner at Manatt, Phelps & Phillips. "What will scare people away is the threat of being accused. The suggestion there is criminal liability for a company that has a good argument that they were eligible for these loans based on the structure of the CARES Act is ludicrous."
"They're trying to use public shaming mechanisms to embarrass companies into giving money back that, technically, they're allowed to take under the program," said Axelrod, now a partner at law firm Linklaters.
realDonaldTrump Of course they aren't punished. Graft at the top takes care of others. Taxpayers are punished! TrumpIsJealousOfObama TrumpHasNoPlan
How many of them are close to chump or putin?
Yes they will be at risk when the food st settles down and government has more time to comb through applications, there will be a lot of penalties because there’s a lot of fraud AND YOU KNOW IT!!!
It's not the peoples country anymore it's theirs. The big corporations screw of the people all the time while the GOP sets back and counts their bonuses.
Unless they are targeted for political purposes...
well the government could pass a retroactive law with massive penalties including jail time would be a nice start
Haha, india mein bhi yahi hota hai..
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: WSJ - 🏆 98. / 63 Read more »