Compliance Round-Up: City Bar Series on COVID-19’s Impact on Ethics and Compliance
CARES Act Fraud
Enforcement is Here: What Borrowers Under the COVID-19 Financial Relief
Programs Need to Know to Mitigate Regulatory Risks (OnDemand)
Originally held on Wednesday, July 22, 2020 | 11:00 am - 12:30 pm
Please Note: This program will consist of audio-only instruction by the faculty, along with a visual aid presentation.
Program Fee:
$49 for Members | $99 for Nonmembers
Members who are Recent Law Graduates, Newly Admitted Lawyers (admitted for the first time in any state or country 2020-2022), In-House/Corporate Counsel, Judges, and attorneys who practice within the Government, Academic or Not-for-Profit sectors attend this program for free.
CLE Credit:
New York: 1.5 Professional Practice
New Jersey: 1.6 General
California: 1.0 General
Pennsylvania: 1.0 General
Connecticut: Available to Licensed Attorneys
This program provides transitional/non-transitional credit to all attorneys
Description:
Since March 2020, the federal government has committed trillions of
dollars to COVID-19 financial relief programs. Hundreds of billions of
dollars in forgivable loans have been distributed to small businesses
under the CARES Act Paycheck Protection Program and hundreds more are or
will be available to other businesses through other CARES Act lending
programs, such as the Main Street Lending Program and the Economic
Injury Disaster Loan Program. Yet another multi-trillion dollar
stimulus package appears to be on the way.
The government has already brought several investigations and fraud
actions against borrowers for alleged CARES Act loan abuse. Now that the
Special Inspector General for Pandemic Recovery has been appointed, the
pace of fraud investigations and enforcement actions only will
increase.
In an update to their May 5 webinar
where they introduced the CARES Act loan programs and cautioned
borrowers to expect strict government oversight and increased
enforcement activity, Alixandra Smith, Chief of the Business and
Securities Fraud Section of the U.S. Attorney’s Office for the Eastern
District of New York, George Stamboulidis, co-head of BakerHostetler’s
White Collar practice, and Frances McLeod, Founding Partner of Forensic
Risk Alliance, will cover the latest developments under the CARES Act
loan programs and how borrowers can avoid being the next target of a
fraud investigation or prosecution.
Program topics will include:
- Key legislative updates and regulatory guidance regarding the CARES Act loan programs since May 5th
- Review and analysis of the fraud investigations and criminal
actions for alleged CARES Act loan abuse to date and what to expect from
the government going forward
- Proactive compliance measures that borrowers can still take to mitigate regulatory risk
Click Here to View Program Agenda & Faculty
Program Chair & Moderator:
Patrick T. Campbell, BakerHostetler
Sponsoring Association Committee:
Compliance, Patrick T. Campbell, Chair
Co-Sponsoring Association Committee:
White Collar Crime, Michael S. Schachter, Chair