The United States government offers a wide range of loan programs designed to help applicants start businesses, purchase homes, or receive education. Despite these lofty goals, some recipients of these funds only do so because of fraud. The government has limited resources to police this behavior, so it relies on tips from whistleblowers.

If you have information about fraudulent loan activity, cooperating with the government could result in a monetary award. You have the right to rely on a dedicated whistleblower attorney throughout this process. Reach out to a Columbia government loan fraud whistleblower lawyer for help evaluating your options. Schedule an initial consultation with Bill Nettles, Attorneys at Law, today.

Understanding Government Loans and the Potential for Fraud

Individuals and entities can defraud the federal government in various ways during the loan process. This is true despite the multiple steps an applicant must take to qualify for funding.

First and foremost, the identity of the person borrowing the money matters. Loans are limited to U.S. citizens or lawful permanent residents, and securing money without these legal statuses can be an example of fraud.

The second and most common type of fraud occurs when an applicant provides the government with false information. This could include lying about household income to qualify for a larger loan or fabricating business records so a company can qualify as a small business when they are not one.

The same federal law prohibits this type of behavior regarding any loan offered or secured by the government—the False Claims Act. Under the False Claims Act, it is against the law to provide any false information in an effort to secure funds from the United States. Anyone with information about or evidence of government loan fraud could benefit from a discussion with a Columbia whistleblower attorney.

The Purpose and Benefits of Serving as a Whistleblower

An important aspect of the False Claims Act is that it empowers citizens to cooperate with the government to root out this type of fraud and recover a monetary award when those efforts lead to a conviction.

In order to receive a payment, the whistleblower must have information directly related to the alleged fraud. This information must be new to the government, as it is impossible to secure an award for something investigators are already aware of. If these claims are successful, an individual could recoup between 15 and 25 percent of the money returned from the fraudulent scheme.

In addition, the Act bars some individuals from recovering money. These include perpetrators involved in fraud and members of law enforcement who are legally obligated to report any evidence of wrongdoing when they discover it.

No one has to undertake this process on their own. A government loan fraud whistleblower lawyer in Columbia could review the evidence and provide helpful insight into whether or not a reward is possible.

Talk to a Government Loan Fraud Whistleblower Attorney in Columbia Today

If you believe you have information about fraudulently obtained loans, now is the time to seek legal counsel. The government backs a large number of loans, so you should never assume the False Claims Act does not apply in your situation.

Get in touch with a Columbia government loan fraud whistleblower lawyer with Bill Nettles, Attorneys at Law, today to get started.

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