Vsoft Corporation Agrees to Pay Nearly $2.3 Million to Resolve Allegations It Improperly Obtained A PPP Loan
Excerpt
CHARLOTTE, N.C. – U.S. Attorney Russ Ferguson announced today that VSoft Corporation (VSoft), a banking and payment solutions provider located in Atlanta, Georgia, has agreed to pay $2,291,927.07 to resolve allegations that it violated the False Claims Act by providing false information to obtain a Paycheck Protection Program (PPP) loan for which it was not eligible. This settlement resolves allegations that VSoft misrepresented that it was a small business with less than 300 employees on its application for a second round PPP loan of $1,259,732.00—when instead, VSoft was part of an international corporation with multiple locations worldwide, totaling well over the 300-employee limit for second round PPP loans. This matter arose from a lawsuit filed under the qui tam or whistleblower provi