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Upstate NY company pays $1.9M to settle PPP loan fraud allegations
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New York UpstateUpstate NY company pays $1.9M to settle PPP loan fraud allegations
An Upstate New York company has agreed to pay $1.9 million to settle allegations that it improperly obtained a Paycheck Protection Program loan by failing to disclose its foreign ownership and employee count, federal prosecutors announced Thursday.Sark Wire Corporation, an Albany-based manufacturer, admitted it did not meet eligibility requirements for the second-round PPP loan because it failed to count employees of its foreign affiliates when …
·Syracuse, United States
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