Settlement Agreement — Sidesolve v. Taiji Group USA (W.D.N.C.)

Summary

A settlement agreement among the United States, acting through the Department of Justice on behalf of the Small Business Administration, Taiji Group USA, Inc. and relator Sidesolve, LLC, filed February 7, 2025 as Document 14-1 in Case 5:24-cv-00098-KDB-SCR in the U.S. District Court for the Western District of North Carolina. The United States contends that Taiji falsely certified in its Second Draw PPP application that no entity created in the People’s Republic of China owns or holds not less than 20 percent of its economic interest, and that SBA approved a $271,165.00 loan on or about March 27, 2021. Taiji agrees to pay a Settlement Amount of $460,395.09, of which $287,746.93 is restitution, and $12,737.10 to Bracker & Marcus LLC for relator fees. The United States will pay the relator $46,039.51. The agreement is not an admission of liability by Taiji.

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