Aquatherm, L.P. — Has Agreed to Pay $1,351,575.84 to Resolve Allegations (Lindon, Utah; Paycheck Protection Program)

Summary

Aquatherm, a Delaware limited partnership based in Lindon, Utah, has agreed to pay $1,351,575.84 to resolve allegations that the company improperly obtained a Paycheck Protection Program (PPP) loan from the U.S. Small Business Administration (SBA) for which it was not eligible. In March of 2021, Aquatherm applied for and received an $864,982 PPP loan after falsely certifying that it, together with its affiliates, had fewer than 300 employees, and later obtained full forgiveness. The settlement states Aquatherm had over 300 employees together with its domestic and foreign affiliates. U.S. Attorney Benjamin L. Wallace announced the settlement, and the relator will receive a share. The claims resolved are merely allegations, and there has been no determination of liability.

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Full text

Wilmington, Del. – Aquatherm, L.P. (“Aquatherm”), a Delaware limited partnership based in Lindon, Utah, has agreed to pay $1,351,575.84 to resolve allegations that it improperly obtained a Paycheck Protection Program (“PPP”) loan from the U.S. Small Business Administration (“SBA”) for which it was not eligible.
PPP was an emergency loan program established by Congress in March 2020 under the Coronavirus Aid, Relief, and Economic Security Act, and administered by the SBA.  The program was created to support small businesses and to help them continue to pay employees and meet other business expenses during the COVID-19 pandemic. To be eligible for a PPP loan, a business was required to certify that it had no more than 300 employees, including employees of all domestic and foreign affiliates.
Aquatherm is 99% owned by Aquatherm Besitzgesellschaft mbH & Co. KG, a German company, and manufactures polypropylene piping for pressurized mechanical and plumbing systems.
In March of 2021, Aquatherm applied for and received an $864,982 PPP loan after falsely certifying that it, together with its affiliates, had fewer than 300 employees.  Aquatherm later sought and obtained full forgiveness of that loan from SBA.  Aquatherm was ineligible for the loan, however, because together with its domestic and foreign affiliates, it had over 300 employees.
U.S. Attorney Benjamin L. Wallace announced the settlement.  Civil Chief Dylan J. Steinberg handled the case.
The civil settlement includes the resolution of claims brought under the
qui tam
or whistleblower provisions of the False Claims Act. Under those provisions, a private party—known as a relator—can file an action on behalf of the United States and receive a portion of any recovery.  In this case, the relator will receive a share of the settlement.
Individuals with information about allegations of fraud involving COVID-19 are encouraged to report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at:
https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form
.
On April 7, the Department of Justice announced the creation of the National Fraud Enforcement Division (“Fraud Division”).  The Fraud Division is investigating and prosecuting those who commit fraud against the American people.  The Department’s work to combat fraud supports President Trump’s Task Force to Eliminate Fraud, a whole-of-government effort chaired by Vice President J.D. Vance to eliminate fraud, waste, and abuse within Federal benefit programs.
A copy of this press release is located on the website of the U.S. Attorney’s Office for the District of Delaware.  The settlement agreement is attached to this press release.  Related court documents and information are located on the website of the
District Court
for the District of Delaware or on
PACER
by searching for Case
No. 25-413-CFC.
The claims resolved by the settlement are merely allegations.  There has been no determination of liability.
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aquatherm_settlement_agreement_v.5.pdf

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