Daniel Markus Inc., which operated pawn shops in New Jersey, and its owner have agreed to pay $50,000 in civil penalties to settle allegations that the company obtained more than one Paycheck Protection Program loan, violating the False Claims Act and the Financial Institutions Reform, Recovery and Enforcement Act, according to the Department of Justice on Thursday.
Daniel Markus Inc. allegedly knowingly and improperly received and retained a second loan in 2020, according to the department.
The company agreed to repay the duplicative loan, relieving the U.S. Small Business Administration of liability to the lender for the federal guaranty ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.