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Real Estate Agent Hit With Nearly $500,000 PPP Fraud Ruling (1)

June 3, 2022, 2:46 PMUpdated: June 6, 2022, 2:01 PM

A Virginia-based real estate agent owes nearly $500,000 under a default judgment in the US government’s case alleging Paycheck Protection Program fraud, a federal district court said.

Congress enacted the PPP in March 2020 to provide emergency financial support to those suffering the economic effects caused by the Covid-19 pandemic.

The government sued Stephon Brooks Jan. 31 alleging he made false statements that violated the False Claims Act and Financial Institutions Reform, Recovery and Enforcement Act. The government said Brooks knew he was eligible for one loan based on his income, falsely certified that he would only pursue one loan, ...