VSoft Corporation Agrees to Pay Nearly $2.3 Million to Resolve Allegations It Improperly Obtained a PPP Loan — Banking and Payment Solutions Provider, Atlanta, Georgia
Summary
A press release in which U.S. Attorney Russ Ferguson announced that VSoft Corporation (VSoft), a banking and payment solutions provider located in Atlanta, Georgia, 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. The settlement resolves allegations that VSoft misrepresented that it had less than 300 employees on its application for a second round PPP loan of $1,259,732.00, when it was part of an international corporation over the 300-employee limit. The matter arose from a qui tam lawsuit captioned United States ex rel. GHGH2, Inc. v. Vsoft Technologies Corporation, Case No. 3:24-cv-999 (W.D.N.C.). The release states that there has been no determination of liability.
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“VSoft Corporation Agrees to Pay Nearly $2.3 Million to Resolve Allegations It Improperly Obtained a PPP Loan — Banking and Payment Solutions Provider, Atlanta, Georgia.”
Original at www.justice.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/doj-usao-wdnc-press-release-vsoft-corporation-agrees-pay-nearly-23-mil-b270dd7f4b/
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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 provision of the False Claims Act, which permits private parties to file suit on behalf of the United States for false claims and share in a portion of the government’s recovery. The qui tam lawsuit is captioned United States ex rel. GHGH2, Inc. v. Vsoft Technologies Corporation ; Case No. 3:24-cv-999 (W.D.N.C.). The government’s investigation was led by Assistant U.S. Attorney Seth Johnson. 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 Hotline at 866-720-5721, or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form . The claims resolved by the settlement are allegations only. There has been no determination of liability.
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